Menu

Property Tax Resources

52 minutes reading time (10364 words)

Florida Property Tax Updates

UPDATED june 2023

Florida’s New “Live Local Act” Creates New Property Tax Exemptions For Affordable Housing

The Florida legislature passed sweeping reform encouraging development of more affordable housing.  One aspect of the bill is the creation of new property tax exemptions for affordable housing.  The Live Local Act, which takes effect in July 2023 (but won’t apply until the 2024 tax year with regard to the tax exemptions), creates three new exemptions for affordable housing.  There is a new exemption of either 75% or 100% of the assessed value, for affordable housing completed within the past 5 years, that has at least 71 units, and does not receive Federal Income Tax Credits.  If tenants are at 80% AMI or below, there is a full 100% exemption.  If tenants are between 80% and 120% AMI, the exemption is 75% of the assessed value.  The bill also empowers cities and counties to authorize their own exemptions for lower income tenants, earning up to 60% AMI. These local exemptions can be applied to older properties with at least 50 units.  The third exemption is for land owned by a non-profit that is leased for affordable housing.  These exemptions provide a powerful incentive to developers and landowners to build more affordable housing units in Florida.


Julie M. Schwartz, Esq.
Rennert Vogel Mandler & Rodriguez, P.A.
American Property Tax Counsel (APTC)

Delaware Property Tax Updates
Georgia Property Tax Updates

American Property Tax Counsel

Recent Published Property Tax Articles

Reject Tax Assessors’ Finance-Industry Valuations

Appraisals designed for lenders often inflate assessments of seniors living real estate for property taxation.

Appraisal methodologies for financing seniors housing properties factor in more than real estate to produce amounts that exceed property-only value. That means seniors housing owners may be paying real estate taxes on non-real-estate assets.

Everyone can...

Read more

3 Keys to Appealing an Unfair Assessment

Spencer Fane's Michael Miller on the critical steps for finding tax relief.

This is a challenging time in the property tax world. Pandemic-era federal assistance programs have dried up, increasing communities' appetite for tax dollars to deal with crime, homelessness, transportation and other issues. Recognizing that inflation has put taxpayers under...

Read more

Drew Raines: How to Reduce Student Housing Property Tax Assessments Post-Pandemic

Not long ago, assessors' student housing properties valuations generally struggled keeping pace with the rising market.College enrollment was high, rent growth outpaced expenses and student expectations lined up with most newer facility amenities. However, the COVID-19 pandemic and its fallout changed the game.

Property taxes are often the single highest expense...

Read more

Member Spotlight

Members

Forgot your password? / Forgot your username?