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Palm Coast Monday, Jun. 3, 2019 2 months ago

Florida Realtors applauds cut to Business Rent Tax

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Also in the Observer: New and improved; Awards, promotions and new hires.
by: Ray Boone Sports Editor

​Florida Realtors, the state’s largest professional trade association with more than 187,000 members, applauds Gov. Ron DeSantis’ signing into law House Bill 7123, which includes a 0.2% reduction to the state tax on commercial leases, known more commonly as the Business Rent Tax.

“Every single day, businesses both in and outside of Florida must face tough decisions due to the business rent tax, a tax no other state levies,” said 2019 Florida Realtors President Eric Sain, a Realtor and district sales manager with Illustrated Properties in Palm Beach. “Thank you to Gov. DeSantis and our Legislature for the third-straight cut to this tax.”

With the signing of HB 7123, the new state tax rate on commercial leases will be 5.5%, down from its original 6% in 2017. In total, the three consecutive BRT cuts will save businesses an estimated $156 million each year they can use to expand, hire more employees, improve benefits and raise salaries.

The BRT cut contained in HB 7123 will become effective on Jan. 1, 2020.

New and improved

  • Adette’s Bistro and Bakery is a new restaurant in Palm Coast. Located at 160 Cypress Point Parkway, Adette's was announced as a new commercial business in the city of Palm Coast's Week in Review.
  • A certificate of occupancy for $20,000 was issued Rudy's Delicatessen and Eatery, located at 4984 Palm Coast Parkway NW, Unit 3.
  • An occupancy permit was issued to Art Among the Flowers, which is located at 160 Cypress Point Parkway, Unit A114.
  • A commercial permit was issued to Gildas Creperie Du Village Ice Cream, located at 101 Palm Harbor Parkway, Unit C133, for $8,900 in interior renovations. 
  • The Kangaroo Convenience Store located at 890 Palm Coast Parkway SW is renovating the food and polar pop area of the story. The renovation will cost about $45,697.

Awards, promotions and new hires

Dr. Roger Thayer. Photo courtesy of Lindsay Cashio
  • The Million Dollar Advocates Forum announced that attorneys Michael D. Chiumento III and Ronald A. Hertel, shareholder partners of Chiumento Dwyer Hertel Grant and Kistemaker, are now certified members. The forum is recognized as one of the most prestigious groups of trial layers in the country.
  • Florida Oral and Facial Surgical Associates announced a new appointment for one of its own. Dr. Roger Thayer is the newly installed President of the Volusia-Flagler County Dental Association – a professional membership organization devoted to improving the oral health of people in the counties. Thayer has been a member for the past eight years.

     

  • Ken Belshe, senior sales director for SunBelt Land Management, announced that Joe King has joined the sales team for the company’s Marina del Palma development. King, who has been with SunBelt since 2002, previously served as broker in charge of the company’s Waterbridge property in Myrtle Beach, South Carolina. Marina del Palma will be his sixth community on the sales team. Throughout this tenure, he has won many quarterly sales awards throughout the years, including the award for "Top Volume of the Year" in 2006.

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