RE Tax Reduction for Commercial Leases
If you own a business and are leasing the space you run your business from, be advised that Florida is making changes to the Real Estate Tax they collect for commercial properties. Currently for commercial real estate properties, the going rate for property tax is 4.5% of the total rent payment (base plus CAM fees).
In an effort to help alleviate the ever rising costs of doing business, the state has agreed to a reduction in the state taxes from 4.5% down to just 2% effective June 1. This could represent significant savings for some business owners.
Speak with your landlord or the management company to find out how this change will impact your payment. Feel free to reach out to us with any questions or concerns you may have. You can reach us at (954) 710-2345 (call, text or WhatsApp).
Rafael Amador, Realtor®