Florida’s budget increased, cumulatively, more than pop+inf in state funds and all funds from 2013-22.
State Funds Budget Data
- Estimated 2023 State Funds Budget ($ Billions): $65.84
- Budget Limit ($ Billions): $69.54
- Budget Limit Growth ($ Billions): 5.62%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $492.61
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $1,970
- Cumulative cost per person of budgeting more than pop+inf over the last decade: $2,441.95
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $9,767.80
State All Funds Budget Data
- Estimated 2023 All Funds Budget ($ Billions): $107.38
- Budget Limit ($ Billions): $113.41
- Budget Limit Growth ($ Billions): 5.62%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $3,764.39
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $15,058
- Cumulative cost per person of budgeting more than pop+inf over the last decade: $12,850.02
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $51,400.06
Other Considerations
- Economic Freedom (2020) (Rank): 1 [Fraser Institute]
- State Tax Collections Per Capita (FY2021) ($): $2,264 [Tax Foundation]
- State Tax Collections Per Capita (FY2021) (Rank): 48 [Tax Foundation]
- State-Local Total Tax Burden per Capita (2022) ($): $5,406 [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (%): 9.10% [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (Rank): 11 [Tax Foundation]
- Top Income Tax Rate (2023) (%): 0.00% [Tax Foundation]
- Top Income Tax Rate (2023) (Rank): 1 [Tax Foundation]
- Flat or Progressive Income Tax (2023) (Flat/Progressive/Zero): Z [Tax Foundation]
- Overall State Business Tax Climate Index (2023)(Rank): 4 [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (%): 5.50% [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (Rank): 32 [Tax Foundation]
- State-Local Sales Tax Rate (2023) (%): 7.02% [Tax Foundation]
- State-Local Sales Tax Rate (2023) (Rank): 23 [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (%): 0.91% [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (Rank): 26 [Tax Foundation]
- Tax and Expenditure Limit (0-3): 2 [American Legislative Exchange Council]
- Tax and Expenditure Limit (Rank): 3 [American Legislative Exchange Council]
- Right-to-Work Law (2022) (Y/N): Y [American Legislative Exchange Council]
- State-Local Spending per Capita (2022) ($): $10,228 [US Government Spending]
- State-Local Spending per Capita (2022) (Rank): 5 [US Government Spending]
- Official Poverty Rate (2020-22) (%): 13.1 [Census Bureau]
- Official Poverty Rate (2020-22) (Rank): 39 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (%): 12.7 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (Rank): 49 [Census Bureau]
- Labor Force Participation Rate (Dec. 2022) (%): 59.10% [Bureau of Labor Statistics]
- Labor Force Participation Rate (Dec. 2022) (Rank): 40 [Bureau of Labor Statistics]