Real Estate Property Taxes Decrease This Year

By Dana McBroom, CPA | Business Development Partner

🕒 1 min read

Consulting Investment Policy Tax Management Tax Tip Tuesday

Effective January 1, 2018, the state sales tax rate for renting, leasing, or granting a license to use real property decreases from 6% to 5.8%. Your county surtax will remain the same; for example:

If your commercial property is in Seminole County, the rate will drop from 7% (state and county) to 6.8%. If you are in Orange County, the rate will drop from 6.5% to 6.3%.

Please adjust your commercial rental contracts to reflect the new sales tax rate effective next year.

Major taxes collected in Florida include sales and use, intangible, estate, property, and corporate income taxes.

Click here for a Quick Look at Florida Taxes.

Stay updated on local tax policies and ensure you benefit from the upcoming decrease in real property taxes. Call us today.

Dana McBroom

Certified Public Accountant

About The Author

Dana joined Howard, Howard and Hodges in 1988 and became a partner in 2016. She holds a Bachelor of Science in Business Administration and an MBA from the University of Central Florida. She is a Certified Specialist in Estate Planning, Certified Specialist in Retirement Planning, Qualified 401(k) Administrator, and Certified Valuation Analyst, with experience in estates and trusts, retirement plans, income tax preparation and consulting, business valuations, mergers and acquisitions, and litigation support. Dana is a member of the AICPA and the Florida Institute of CPAs. A Seminole County native, she volunteers with Seminole County Schools and Northland Community Church, and serves on the Seminole County Port Authority and Central Florida Regional Hospital boards.