Drew Dixon
The state real estate advocacy group Florida Realtors has released research that the organization says backs up its claim that eliminating the business rent tax would benefit the state.
According to the findings, eliminating the business rent tax would grow the Sunshine State economy by $19.7 billion and create another 58,653 jobs over the next half-decade.
Ultimately, new residents coming to Florida are numbering so many, the study concluded the business rent tax is becoming obsolete.
“Nearly 1,000 people move to Florida every day. It is essential to remove this tax burden to allow for more investment in housing, retail, and development to support growth and keep Florida one of the top-performing economies in the world’s largest economy,” stated the study’s narrative in the report, which was published Tuesday.
The study, entitled “An Economic Impact Analysis of Eliminating Florida’s Commercial Rent Tax,” concluded the business rent tax has been reduced so many times it’s essentially time to do away with it altogether.
“This tax rate has already been reduced several times, and it is expected to be reduced to 2% within the current state fiscal year. Eliminating this tax from the expected lower rate generates significant returns to the state economy.”
The 21-page report conducted by the Regional Economic Impact Consulting Group, founded by two former state economists. It claimed that Florida’s rapidly growing population will offset any need for a business rent tax.
The study acknowledged that the state government will lose tax revenue if the business rent tax is eliminated. However, the burgeoning increase in state residents will far offset any tax revenue decline, according to the analysis.
“The study shows the state will grow by $6.52 for every dollar of lost revenue when comparing the initial loss to the overall economic gain. When the new tax collections mitigate the initial state losses, the increase becomes $8.39 per dollar of lost revenue.”
6 comments
Earl Pitts "Sage Political Expert Emeritas" American
February 13, 2024 at 7:17 pm
Good evening America,
Ending this rental tax is Sage Wisdom from The State Where Woke Goes To Die.
Thank you America,
Earl Pitts “Sage Economist” Anerican
Peninsula Of Shame
February 13, 2024 at 8:49 pm
Hahahahaha you probably want Publix to stop asking you to pay also…
BWAHAHAHAHAHAHAHAHAHAHAH
Bunch a broke ass losers
Marvin M.
February 13, 2024 at 9:56 pm
“The 21-page report detailing the study was conducted by Regional Economic Impact Consulting Group, founded by two former economists for the state of Florida. It claimed that Florida’s rapid growing population will offset any need for a commercial real estate rent tax.”
Those two “former economists for the state of Florida” could be wrong, you know.
Seriously, I am trying to figure out how more people just moving to Florida will just “offset any need for a commercial real estate rent tax.”
I don’t think there’s any argument that the rent is too high here in South Florida
But what I can say as a person who has rented most of my life: Landlords will raise your rent if their taxes are increased, but if their taxes are decreased, they never lower your rent. The best you can hope for is that they will not increase your rent very much, or very often.
This is not going to decrease my rent. Or yours. If you think it will, you are delusional
Michael K
February 13, 2024 at 10:02 pm
Imagine. A business real estate lobby group wants to repeal tax on business real estate.
Earl Pitts "Sage Political Expert Emeritas" American
February 14, 2024 at 6:52 am
Good mornting Florida and America,
I, Earl Pitts American, appoligise to you gentel readers for being subjected to the three Dook 4 Brains Leftist commenters above.
Lets all re-read just the posters with actual Sage wisdom. That would be the top post [by Earl] and this post.
Pay no attention to those three rambeling nonsenseical Leftys who have lamely attempted to “SOIL” the Sage Wisdom of ME, Earl Pitts “Sage Economist” American.
Thank you Florida and thank you America,
Earl Pitts “Sage Real Estate Economist” American
rick whitaker
February 15, 2024 at 7:44 pm
earl, you spent your life as a radio clown, what a loser
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