Florida’s budget increased cumulatively more than the maximum rate of population growth plus inflation in state funds and all funds from 2016-25, meaning taxes are higher than the average taxpayer can afford. 

  • The 2025 state funds budget is $11.3 billion higher than it would have had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew faster than population growth plus inflation for the last ten years, the state spent $64.7 billion too much.
  • The 2025 all funds budget is $14.7 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the all funds budget grew faster than population growth plus inflation over the past decade, the state spent $117.5 billion too much.

State Funds Budget Data

  • Estimated FY 2026 Only State Funds Budget ($ Billions): $ 82.26
  • FY 2027 Only State Funds Budget Limit ($ Billions): $ 85.98
  • FY 2027 Only State Funds Budget Limit Growth (%): 4.51%
  • Cost per person of only state funds budgeting more than pop+inf over the last decade in 2025 budget: $ 20,738
  • Cost per family of 4 of only state funds budgeting more than pop+inf over the last decade in 2025 budget: $ 481
  • Cumulative cost per person of only state funds budgeting more than pop+inf over the last decade from 2016-25: $ 2,759
  • Cumulative cost per family of 4 of only state funds budgeting more than pop+inf over the last decade from 2016-25: $ 11,037

All Funds Budget Data

  • Estimated FY 2026 All Funds Budget ($ Billions): $ 123.70
  • FY 2027 All Funds Budget Limit ($ Billions): $ 129.28
  • FY 2027 All Funds Budget Limit Growth (%): 4.5%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2025 budget: $ 31,866
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2025 budget: $ 627
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2016-25: $ 5,008
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2016-25: $ 20,034

Other Economic and Fiscal Considerations