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FL S1440
Bill
Status
Failed
3/8/2024
Primary Sponsor
Community Affairs
Click for details
AI Summary
- Counties and municipalities in Florida are authorized to exempt accessory dwelling units (ADUs) used for affordable housing from ad valorem (property) taxation, expanding an existing exemption that previously applied only to multifamily projects with 50 or more units
- Qualifying ADUs may receive up to 100% exemption on assessed value if used to provide affordable housing meeting the section's requirements
- Eligible units must house individuals or families with household income at or below 60% of the area median income and must charge rent no greater than limits set by HUD or 90% of fair market rent, whichever is less
- Properties with three or more code violations in the prior 24 months, unresolved code violations, or unpaid fines related to violations are ineligible for the exemption
- The amendments first apply to the 2025 ad valorem tax roll, with an effective date of July 1, 2024
Legislative Description
Affordable Housing Property Tax Exemptions for Accessory Dwelling Units
Last Action
Died in Finance and Tax
3/8/2024
Committee Referrals
Finance and Tax1/18/2024
Full Bill Text
No bill text available