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1 August | 2006
Florida - Property Tax: Most of Annual Intangibles Tax Repealed
The Florida annual intangible personal property tax is repealed effective January 1, 2007, except as it relates to
qualifying government leasehold interests. No substantive change is made to the 2-mill, non-recurring tax imposed on
obligations secured by liens on Florida property.
It is the express intent of the Legislature that all intanglible due and owing for calendar years through 2006 be paid,
assessed and audited. The Florida Department of Revenue, anticipating enactment of this law, previously had notified
taxpayers that 2006 filings were still required.
Florida Governor Jeb Bush had called for repeal of the annual tax, which currently is imposed at the rate of 0.5 mills.
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