Florida S1350 amends property tax exemption rules for affordable housing, affecting multifamily projects and income-qualified renters.

Florida S1350 revises property tax exemption rules for affordable housing, impacting multifamily projects and income-qualified renters. The bill defines "LURA" as a land use restriction agreement and "newly constructed" as improvements completed within two years. It allows taxing authorities to opt out of exempting certain properties if they meet specific conditions. The bill also mandates annual housing reports from the Shimberg Center for Housing Studies and requires property appraisers to issue verification letters to property owners under certain conditions.

Florida S1350 amends property tax exemption rules for affordable housing, affecting multifamily projects and income-qualified renters.

Florida S1350 revises property tax exemption rules for affordable housing, impacting multifamily projects and income-qualified renters. The bill defines "LURA" as a land use restriction agreement and "newly constructed" as improvements completed within two years. It allows taxing authorities to opt out of exempting certain properties if they meet specific conditions. The bill also mandates annual housing reports from the Shimberg Center for Housing Studies and requires property appraisers to issue verification letters to property owners under certain conditions.