Florida economists scaled back revenue projections by $267 million Monday for this year and next, saying they are wary of slightly weaker state and national forecasts.
The potential impact on tourism of Great Britain’s recent vote to leave the European Union, and the historically low level of home ownership in Florida played a role in the decision to downsize the level of collections expected from sales and documentary taxes.
The steadily rising number of Floridians suffering from the mosquito-borne Zika virus also looms over the state’s economy going forward, and could bring tourism numbers down farther, said Amy Baker, coordinator of the Legislature’s Office of Economic and Demographic Research.
“We still have growth – we’re still positive year over year, just not as strong,” Baker said. “It’s just slowed down.”
Baker is among four economists, representing the Legislature, Gov. Rick Scott’s office and the state Revenue Department, who meet to estimate the state’s revenue.