TALLAHASSEE, FL-Gov. Rick Scott, as part of his plan to eliminate $500 million in taxes and fees, proposed on Tuesday to slash taxes on commercial rents by approximately $104 million.
The governor's budget reduces the tax on commercial leases by one half of a percentage point from its current 6% rate, according to the Tampa Bay Business Journal. The commercial rent tax cut follows the governor's previous call to reduce car registration fees by $400 million.
"The economic impact of a $100 million reduction in this tax would provide over $500 million in value to Floridians in terms of jobs and economic activity," states Danny Smith, chairman of the Florida Realtors Commercial Alliance Committee. See story in the Tampa Bay Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
