Loading chat...
FL S0556
Bill
AI Summary
- Creates section 193.0181, Florida Statutes, defining "resale-restricted affordable housing" as property with a legally enforceable deed restriction lasting 15 years or longer, recorded in county public records, that limits resale to income-eligible buyers for a specified period
- Requires property appraisers to treat resale restrictions on affordable housing as a land-use regulation and limitation on highest and best use, which must be considered when arriving at just valuation — effectively lowering assessed property values for these homes
- Covers housing purchased or constructed with government assistance, housing purchased from 501(c)(3) housing organizations, or housing subject to a 99-year ground lease from such organizations, serving extremely-low-income through moderate-income persons or families
- Requires owners of resale-restricted affordable housing to submit an application (on a Department of Revenue form) to the property appraiser, including an affidavit signed under penalty of perjury affirming the owner's obligation to abide by the resale restriction
- Takes effect July 1, 2025
Legislative Description
Resale-restricted Affordable Housing
Last Action
Died in Community Affairs
6/16/2025
Full Bill Text
No bill text available