Leviticus 25:4 says, "But in the seventh year shall be a sabbath of rest unto the land, a sabbath for the Lord; thou shalt neither sow thy field, nor prune they vineyard."
Leviticus 25:8-13 says, "And thou shalt number seven sabbaths of years unto thee, seven times seven years; and the space of the seven sabbaths of years shall be unto thee forty and nine years. Then shalt thou cause the trumpet of the jubilee to sound on the tenth [day] of the seventh month, in the day of atonement shall ye make the trumpet sound throughout all your land. And ye shall hallow the fiftieth year, and proclaim liberty throughout [all] the land unto all the inhabitants thereof: it shall be a jubilee unto you; and ye shall return every man unto his possession, and ye shall return every man unto his family. A jubilee shall that fiftieth year be unto you: ye shall not sow, neither reap that which groweth of itself in it, nor gather [the grapes] in it of thy vine undressed. For it [is] the jubilee; it shall be holy unto you: ye shall eat the increase thereof out of the field. In the year of this jubilee ye shall return every man unto his possession."
Since most of Israel is secular and is not letting the land rest every seventh year which is considered the Sabbath year of rest, I don't see how the 50th year could be considered a Jubilee year. Also the land is supposed to be allowed to rest in both the 49th and 50th year as indicated in verse 25:11 which also is not being done by the entire nation of Israel.
In Leviticus 26:14-46, the Lord tells the Israelites what their punishment will be for not keeping his commandments. In 26:18, the Lord said, "And if ye will not yet for all this hearken unto me, then I will punish you seven times more for your sins." In verses 21, 24, and 28, the Lord tells them how he will punish them seven times for their sins which is the reason why they were removed from the land (verse 33) so that the land in Israel could enjoy its sabbaths and its rest (verses 34 & 35).
I don't really see there being a sabbath year when the entire land of Israel rests nor a jubilee year where the entire land of Israel rests until the Lord Jesus Christ returns. Isaiah 66:22-23 says, :For as the new heavens and the new earth, which I will make, shall remain before me, saith the LORD, so shall your seed and your name remain. And it shall come to pass, [that] from one new moon to another, and from one sabbath to another, shall all flesh come to worship before me, saith the LORD." Also in speaking about the new temple to be built in Jerusalem, Ezekiel 44:24 says, "And in controversy they shall stand in judgment; [and] they shall judge it according to my judgments: and they shall keep my laws and my statutes in all mine assemblies; and they shall hallow my sabbaths." Ezekiel 46:1, " Thus saith the Lord GOD; The gate of the inner court that looketh toward the east shall be shut the six working days; but on the sabbath it shall be opened, and in the day of the new moon it shall be opened." Ezekiel 46:3, "Likewise the people of the land shall worship at the door of this gate before the LORD in the sabbaths and in the new moons." So the people of the land will be keeping the sabbaths (sabbath day and the sabbath years in which the land is allowed to rest every 7th year) when the Lord is in the new temple in Jerusalem, and the 50th year will be considered a jubilee year at that time.