197.307 Deferrals for ad valorem taxes and non-ad valorem assessments on affordable rental housing property. - Florida Statutes

197.307 Deferrals for ad valorem taxes and non-ad valorem assessments on affordable rental housing property.

   (1) A board of county commissioners or the governing authority of a municipality may adopt an ordinance to allow for ad valorem tax deferrals on affordable rental housing if the owners are engaging in the operation, rehabilitation, or renovation of such properties in accordance with the guidelines provided in part VI of chapter 420.

   (2) The board of county commissioners or the governing authority of a municipality may also, by ordinance, authorize the deferral of non-ad valorem assessments, as defined in s. 197.3632, on affordable rental housing.

   (3) The ordinance must designate the percentage or amount of the deferral and the type and location of affordable rental housing property for which a deferral may be granted. The ordinance may also require the property to be located within a particular geographic area or areas of the county or municipality.

   (4) The ordinance must specify that the deferral applies only to taxes and assessments levied by the unit of government granting the deferral. However, a deferral may not be granted for taxes or non-ad valorem assessments levied for the payment of bonds or for taxes authorized by a vote of the electors pursuant to s. 9(b) or s. 12, Art. VII of the State Constitution.

   (5) The ordinance must specify that any deferral granted remains in effect for the period for which it is granted regardless of any change in the authority of the county or municipality to grant the deferral. In order to retain the deferral, however, the use and ownership of the property as affordable rental housing must be maintained over the period for which the deferral is granted.

   (6) If an application for tax deferral is granted on property that is located in a community redevelopment area as defined in s. 163.340:

   (a) The amount of taxes eligible for deferral must be reduced, as provided for in paragraph (b), if:

   1. The community redevelopment agency has previously issued instruments of indebtedness which are secured by increment revenues on deposit in the community redevelopment trust fund; and

   2. The instruments of indebtedness are associated with the real property applying for the deferral.

   (b) The tax deferral does not apply to an amount of taxes equal to the amount that must be deposited into the community redevelopment trust fund by the entity granting the deferral based upon the taxable value of the property upon which the deferral is being granted. Once all instruments of indebtedness that existed at the time the deferral was originally granted are no longer outstanding or have otherwise been defeased, this paragraph no longer applies.

   (c) If a portion of the taxes on a property are not eligible for deferral as provided under paragraph (b), the community redevelopment agency shall notify the property owner and the tax collector 1 year before the debt instruments that prevented such taxes from being deferred are no longer outstanding or otherwise defeased.

   (d) The tax collector shall notify a community redevelopment agency of any tax deferral that has been granted on property located within the agency’s community redevelopment area.

   (e) Issuance of debt obligation after the date a deferral has been granted does not reduce the amount of taxes eligible for deferral.

   (7) The tax collector shall notify:

   (a) The taxpayer of each parcel appearing on the real property assessment roll of the law allowing the deferral of taxes, non-ad valorem assessments, and interest under ss. 197.307-197.3079. Such notice shall be printed on the back of envelopes used to mail the notice of taxes as provided under s. 197.322(3). Such notice shall read:

NOTICE TO TAXPAYERS OWNINGAFFORDABLE RENTAL HOUSING PROPERTY

If your property meets certain conditions you may qualify for a deferred tax payment plan on your affordable rental housing property. An application to determine your eligibility is available in the county tax collector’s office.

   (b) On or before November 1 of each year, the tax collector shall notify each taxpayer for whom a tax deferral has been previously granted of the accumulated sum of deferred taxes, non-ad valorem assessments, and interest outstanding.

History. s. 6, ch. 2007-198.