06/17/2025
GREAT NEWS for COMMERCIAL RENTERS!!! Your Net Income will INCREASE 2.5% beginning October 1, 2025 if you are in a commercial lease. Your total Commercial Rent just got reduced by 2.5%!!
The FL Legislature late last night passed House Bill 7031 that includes the complete elimination of the Business Tax Rent (BTR) which includes both State and Local Sales Tax. It is currently 2% to the State and .05% to Volusia County. Here is the link to the Bill if you wish to read it.
https://www.flhouse.gov/Sections/Bills/billsdetail.aspx?BillId=82434&SessionId=105
This Tax has been a bone of contention of mine since I got into commercial real estate in 2005. To me it's just criminal..... commercial rents included paying Sales Tax on Real Estate Taxes. Taxing the Tax is what has been done. It has been gradually reduced since 1/1/2018 from 6.5% to 0% (10/2/2025).