‘Surplus in a state’s budget’ is not a phrase many people are used to hearing, but that’s what Florida residents have to look 
forward to in 2015. Governor Rick Scott was pleased to announce that after attending a meeting with state economists Monday Florida now has a nearly one billion-dollar surplus of spending money. This extra money will allow for Scott to implement his proposed tax cuts for residents, as well increase spending for public schools throughout the state. As Scott recently stated to reporters, “Because we are creating an environment where our private sector can succeed, our economy is growing, which makes it possible for us to invest in areas important to Florida families. I look forward to working with the Legislature to continue to cut taxes by $1 billion over the next two years and increase K-12 per pupil funding to the highest level in our state’s history this coming year.” This budget surplus is reflective of Florida’s economic growth over the past few years, which has resulted in more government revenue generated by sales taxes given the increased spending throughout the state. The predicted dip in gas prices and revived housing market also lead economists to believe this government spending surplus in Florida will continue to benefit residents well into the future.
Future tax cuts are expected to ease the stress of the holidays for many Floridians, who can expect many good things to come in the new year. With a booming economy and fiscally minded government this sunny state is quickly becoming one of the most desirable places to live, either seasonally or full time. If you are interested in seeing all the commercial and residential properties available throughout South Florida feel free to contact a RE/MAX agent today and they can assist you with all your real estate needs!