The Florida REMI econometric model was used to model the economic impact of two primary scenarios across the Florida economy. The first scenario adjusted property tax rates from a “rollback” perspective that examined both property tax reductions to residential and commercial sectors of the economy. The second scenario involved adjusting the property tax rate and corresponding sales tax rate. The model measured changes in consumer and producer behaviors and their impacts on the state Gross Regional Products, real disposable personal income, employment, population growth, relative cost of production, and a few other economic indicators. The model also measured both one-year and five-year effects of changes in property and/or sales tax.
