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FLORIDA STATUTES AND CODES
197.3072 Deferral for affordable rental housing properties.
197.3072 Deferral for affordable rental housing properties.
(1) Any property owner in a jurisdiction that has adopted an ad valorem tax-deferral ordinance or a deferral of non-ad valorem assessments ordinance pursuant to s. 197.307 and who owns an eligible affordable rental housing property as described in s. 197.3071 may apply for a deferral of payment by filing an annual application for deferral with the county tax collector on or before January 31 following the year in which the taxes and non-ad valorem assessments are assessed. The property owner has the burden to affirmatively demonstrate compliance with the requirements of this section.
(2) Approval by the tax collector defers that portion of the combined total of ad valorem taxes and any non-ad valorem assessments plus interest that are authorized to be deferred by an ordinance enacted pursuant to s. 197.307.
(3) Deferral may not be granted if:
(a) The total amount of deferred taxes, non-ad valorem assessments, and interest plus the total amount of all other unsatisfied liens on the property exceeds 85 percent of the assessed value of the property; or
(b) The primary financing on the affordable rental housing property is for an amount that exceeds 70 percent of the assessed value of the property.
(4) The amount of taxes deferred, non-ad valorem assessments, and interest shall accrue interest at a rate equal to the annually compounded rate of 3 percent plus the Consumer Price Index for All Urban Consumers; however, the interest rate may not exceed 9.5 percent.
(5) The deferred taxes, non-ad valorem assessments, and interest constitute a prior lien on the affordable rental housing property and shall attach as of the date and in the same manner and be collected as other liens for taxes as provided for under this chapter, but such deferred taxes, non-ad valorem assessments, and interest are due, payable, and delinquent as provided in ss. 197.307-197.3079.
History. s. 6, ch. 2007-198.