Proposal Would Phase Out Commercial Rent Tax
TALLAHASSEE (CBSMiami) - A House Republican wants to phase out a heavily discussed tax on the rental of commercial property over the next decade.
Rep. Larry Ahern filed a bill this week that would gradually increase exemptions before fully repealing the tax in January 2025.
Business groups have lobbied in the past for cutting the 6 percent rental tax but have been unsuccessful.
Ahern's proposal, which will be considered during the 2016 legislative session, would begin next year by exempting from the tax the first $10,000 in rent that would be subject to the levy. That exemption would increase by $10,000 a year until it reached $90,000 in 2024.
The tax would be repealed the following year.
Senate Finance and Tax Chairwoman Dorothy Hukill also has filed a bill for the 2016 session seeking a reduction in the tax. Her bill would trim the tax rate from 6 percent to 5 percent, with the cut effective January 1st, 2017.
