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FL H0229
Bill
Status
Failed
5/5/2023
Primary Sponsor
Lindsay Cross
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AI Summary
- Counties and municipalities may adopt ordinances granting ad valorem property tax exemptions for properties used to provide affordable housing to extremely-low-income, very-low-income, low-income, or moderate-income persons or families
- Eligible properties must be within multifamily projects containing 50 or more residential units, with at least 10% of units providing affordable housing, and must be subject to a recorded land use restriction agreement with the Florida Housing Finance Corporation or another governmental entity
- Exemptions are capped at 75% of assessed value for qualifying affordable units, increasing to up to 100% if all residential units in the project are used for affordable housing
- Taxpayers must apply annually to the property appraiser by March 1, accompanied by an affidavit certifying that occupants meet income requirements; improperly granted exemptions are subject to back taxes, a 50% penalty, and 15% annual interest for up to 10 years
- Creates s. 196.1979, Florida Statutes, effective July 1, 2023, first applying to the 2024 tax roll
Legislative Description
Taxation of Affordable Housing
Last Action
Died in Ways & Means Committee; companion bill(s) passed, see CS/SB 102 (Ch. 2023-17)
5/5/2023
Committee Referrals
Ways and Means Committee1/25/2023
Full Bill Text
No bill text available