Right, the 49th year is a Sabbath year, but the next year, the 1st year and 50th year, is the Jubilee... also a rest year. This is a very similar concept to the Counting of the Omer, where the day after the 49th day, is Shavout (which is typically called Sunday within the West's pagan calendar). In that case, the first day of the week is a rest day... but the preceding day was also a rest day, the normal Shabbat day. That in itself is a controversy... but isn't almost everything a controversy these days. 
I too once held your view, but found very little historical backing for it. That is why the very long and detailed book "The Sabbath and Jubilee Cycle" is so useful. It basically proves the 49 year increment based solely upon the historical record... starting as far back as 700 BC with the seige of Jerusalem... and coming forward all the way to the time of the Bar Kochba rebellions.
Thanks for the comment, "Old Sage".
