Florida Tax Changes - January 2025
Florida Intangibles Tax Overview for 2025
Key Information
- Applicable Tax: Florida Governmental Leasehold Intangible Tax
- Form: DR-601G (Governmental Leasehold Intangible Personal Property Tax Return)
- Filing Requirement:
- Lessees of government-owned property must file an annual intangible tax return.
- Exceptions apply for leasehold estates that qualify for specific exemptions.
Valuation Factors
- Just Value Calculation:
- Determined by the rent payments for the remaining term of the lease.
- Calculated using the Federal Reserve Bank of Atlanta discount rate on the last business day of the previous year, plus 1%.
2025 Specifics
- Discount Rate:
- The rate for 2025 is 5.5%, a decrease from the previous 6.5%.
Department's Role
- The Florida Department of Revenue annually determines the valuation factor tables based on the discount rate.
Florida Intangibles Tax—2025 Florida governmental leasehold intangible tax valuation factor table.
The Florida Department of Revenue has issued the valuation factor table for the 2025 Governmental Leasehold Intangible Personal Property Tax Return (Form DR-601G). Lessees of governmentally owned property, except for leasehold estates that qualify for specific exemptions, are required to file an annual intangible tax return. In calculating the intangible tax due, the just value of a lessee's leasehold estate or possessory interest reported on the tax return is determined by the rent payments for the remaining term of the lease at the Federal Reserve Bank of Atlanta discount rate on the last business day of the previous year, plus 1%. The Department annually determines valuation factor tables based on that discount rate, plus 1%. The rate for 2025 is 5.5% (previously, 6.5%). (Florida Tax Information Publication No. 25C02-01, 01/02/2025.)
Florida Intangibles Tax—2025 Florida governmental leasehold intangible tax valuation factor table.
The Florida Department of Revenue has issued the valuation factor table for the 2025 Governmental Leasehold Intangible Personal Property Tax Return (Form DR-601G). Lessees of governmentally owned property, except for leasehold estates that qualify for specific exemptions, are required to file an annual intangible tax return. In calculating the intangible tax due, the just value of a lessee's leasehold estate or possessory interest reported on the tax return is determined by the rent payments for the remaining term of the lease at the Federal Reserve Bank of Atlanta discount rate on the last business day of the previous year, plus 1%. The Department annually determines valuation factor tables based on that discount rate, plus 1%. The rate for 2025 is 5.5% (previously, 6.5%). (Florida Tax Information Publication No. 25C02-01, 01/02/2025.)