Real estate taxes in Florida are expected to hit the $2.3 billion mark in 2015, an increase of over $200 million.
Documentary tax receipts, which peaked at around $4 billion in 2006 and plunged to below $1.5 billion in 2009, could continue their increase over the last few years to $2.3 billion.
Environmentalists are watching this increase closely thanks to the Florida Water & Land Legacy Amendment 1. Recently approved, this amendment allows the state to use one third of the tax collections for land and water protection and conservation.
Legislative committees are scheduled to meet in the coming weeks to discuss how the money should be spent.