Effective January 1, 2018, the state sales tax rate for renting, leasing, or granting a license to use real property is decreasing 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 make certain to adjust your commercial rental contracts to reflect the new sales tax rate effective for next year.
Stay updated on local tax policies and ensure you benefit from the upcoming real property tax decrease. Call us today.