After the destruction of the second Mikdash, we are accustomed to no longer count the extra year for Yovel (the laws are not applicable). Thus, the th year is now the first year of the next 7-year cycle even according to the Chachamim. We still the count the years for Shmitah since we do observe the laws of Shmitah in Eretz Yisrael as a rabbinical decree. (One has to be careful during the Shmitah year and following year regarding exported agricultural products from Israel)
Why do we not count the Yovel during this Exile while counting the Shmitah years, yet count both in the second Mikdash period? The Ramban explains that during the time of the Mikdash the Jews owned land in Eretz Yisrael. Thus, the Rabbis established a remembrance for the Yovel by counting the year of Yovel, not to forget the concept of the returning of the ancestral land to their original owners in the future restoration of the Yovel. This reason does not apply during the current Exile since most of Jewish people do not live or own land in Eretz Yisrael.
FINAL EXILE ????
SECOND MIKDASH DESTROYED
TH OF AV
SPEEDILY IN OUR DAYS
Once the Bais HaMikdash is rebuilt then the counting of the Yovel year will be restored.
