FL H1271

Exempts rental, lease, or license fees for real property from sales tax if the property owner and renting/leasing entity are separate legal entities with 100 percent common ownership.

Property must have a just value of no more than $1 million on the 2020 tax roll, with adjusted thresholds in subsequent years based on property appraiser determinations.

For properties not listed as discrete parcels on the tax roll, just value must be reasonably prorated from the parent parcel's value, using square footage and other relevant market value information.

Starting January 1, 2021, and annually thereafter, the $1 million threshold adjusts based on the percentage change in the average Consumer Price Index for the 12-month period ending September 30.

Effective July 1, 2019.