THE BILL ITSELF
SB 1520
Affordable Housing Property Tax Exemption
Florida Senate - 2026 SB 1520 By Senator Calatayud 38-01062B-26 20261520__
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A bill to be entitled
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An act relating to the affordable housing property tax
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exemption; amending s. 196.1978, F.S.; revising a
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specified finding that a taxing authority must make in
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order to elect not to exempt certain property from
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certain ad valorem taxation; authorizing certain
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property owners in a multifamily project to apply for
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and continue to receive an exemption; providing
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applicability; providing an effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Paragraph (o) of subsection (3) of section
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196.1978, Florida Statutes, is amended to read:
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196.1978 Affordable housing property exemption.—
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(3)
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(o)1. Beginning with the 2025 tax roll, a taxing authority
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may elect, upon adoption of an ordinance or resolution approved
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by a two-thirds vote of the governing body, not to exempt
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property under sub-subparagraph (d)1.a. located in a county
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specified pursuant to subparagraph 2., subject to the conditions
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of this paragraph.
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2. A taxing authority must make a finding in the ordinance
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or resolution that annual housing reports the most recently
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published by the Shimberg Center for Housing Studies Annual
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Report, prepared pursuant to s. 420.6075 , identify identifies
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that a county that is part of the jurisdiction of the taxing
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authority is within a metropolitan statistical area or region
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where , for each of the previous 3 years, the number of
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affordable and available units in the metropolitan statistical
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area or region is greater than the number of renter households
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in the metropolitan statistical area or region for the category
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entitled “0-120 percent AMI.”
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3. An election made pursuant to this paragraph may apply
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only to the ad valorem property tax levies imposed within a
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county specified pursuant to subparagraph 2. by the taxing
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authority making the election.
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4. The ordinance or resolution must take effect on the
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January 1 immediately succeeding adoption and shall expire on
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the second January 1 after the January 1 in which the ordinance
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or resolution takes effect. The ordinance or resolution may be
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renewed prior to its expiration pursuant to this paragraph.
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5. The taxing authority proposing to make an election under
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this paragraph must advertise the ordinance or resolution or
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renewal thereof pursuant to the requirements of s. 50.011(1)
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prior to adoption.
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6. The taxing authority must provide to the property
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appraiser the adopted ordinance or resolution or renewal thereof
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by the effective date of the ordinance or resolution or renewal
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thereof.
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7. Notwithstanding an ordinance or resolution or renewal
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thereof adopted pursuant to this paragraph, property in a
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multifamily project that received an exemption pursuant to sub
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subparagraph (d)1.a. before the adoption or renewal of such
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ordinance or resolution may continue to receive such exemption
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for each subsequent consecutive year that the same owner or each
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successive owner applies for and is granted the exemption.
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8. Notwithstanding an ordinance or a resolution or a
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renewal thereof adopted pursuant to this paragraph, the owner of
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a property in a multifamily project that received a final site
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plan approval within 1 year before the adoption of such
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ordinance or resolution may apply for and be granted the
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exemption under sub-subparagraph (d)1.a. after meeting the
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requirements of this subsection and may continue to receive such
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exemption for each subsequent consecutive year that the same
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owner or each successive owner applies for and is granted the
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exemption.
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Section 2. The amendments made by this act to s. 196.1978,
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Florida Statutes, first apply to the 2027 property tax roll.
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Section 3. This act shall take effect July 1, 2026.