Local Ad Valorem Tax Exemption

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Local ad valorem Tax Exemption for Affordable Multifamily Housing

In 2023, SB 102, also known as the Live Local Act, was passed by the Florida Legislature and signed by the Governor. The Live Local Act created a new law, Section 196.1979 Fla. Stat., which allows local governments to provide certain tax relief to facilitate affordable housing. The City of St. Petersburg enacted this ordinance, 561-H on November 2, 2023, in compliance with the Live Local Act and under the procedures for adoption of a nonemergency ordinance by a municipal governing body specified in Chapter 166, Florida Statutes, in order to help the continued development and retention of affordable housing in the City.

View the Ordinance

Eligibility Requirements

Section 28-202. Applicability; non-applicability

Unless specifically enumerated, the provisions of this Article shall apply to multifamily projects in which all the following apply:

  1. The Development contains 50 or more Units, at least twenty percent (20%) of which are used by natural persons or families whose annual household income is not more than 60 percent AMI;
  2. Such Affordable Units are rented for an amount no greater than the amount specified by the most recent Rent Limit;
  3. The Development has not been cited for code violations on three or more occasions in the 24 months before the submission of an Application;
  4. Any cited code violations related to the Development have been properly remedied and closed to compliance by the Owner before the submission of an Application;
  5. The Development has no unpaid fines or charges relating to cited code violations at the time the Exemption is granted by the City.

Note related to items (c), (d), and (e), Code Violations means either (i) a Municipal Ordinance Violation that is disposed of in any manner other than a dismissal or finding of not guilty by a court, or (ii) a finding of violation by the City’s Code Enforcement Board.

FHFC Multi-Family Rent and Income Limits

Application Requirements

Information that will be included in the application are as described below:

  • Applicant will be required to submit the most recently completed Rental Market Study which must comply with the subsection 4 of FS 196.1979.
  • Applicant will be required to identify the list of units for which the property owner seeks an Exemption.
  • Applicant will be required to provide documentation that the rent amount received by the Owner for each unit for which the Owner seeks an Exemption and, if a unit is vacant and qualifies for an exemption under Section 196.1979, Florida Statutes, the Owner must provide evidence of the published rent amount for the vacant unit. Documentation can include a current Rent Roll, Tenant Income Certification and/or State Program Compliance Report.
  • The percentage of the assessed value that is exempted from municipal ad valorum taxes will be determined by the review of the application.

Application Exemptions

For Affordable Housing in New Construction:

  1. If all of the Units in a Development are Affordable Units, the portions of the Development that are Affordable Housing are eligible for an Exemption relieving the Affordable Housing of 100% of all City Taxes.
  2. If all of the Units in a Development are not Affordable Units, the portions of the Development that are Affordable Housing are eligible for an Exemption relieving such Affordable Housing of 75% of all City Taxes.

For Affordable Housing in Existing Construction:

  1. If the Owner proves it has Special Circumstances, as set forth herein and described below (ii), the portions of the Development that are Affordable Housing are eligible for an Exemption relieving it of 50% of City Taxes.
  2. Special Circumstance means an owner can demonstrate, to the sole and absolute satisfaction of the POD, that it has at least two of the following circumstances:
    • Extended the affordability period of Affordable Housing by the addition of a minimum of fifteen (15) years of affordability.
    • Have made considerable and substantial renovations to the Affordable Housing such that the renovations would qualify as a “Substantial Rehabilitation” under the definition in Fla. Admin. Code 67-48.002
    • Can demonstrate an increase of insurance rates of more than 50% over the average rate of the immediately preceding three (3) years.  

Apply Here

January 31st, 2024 is the application submission deadline for the local certification of exemption to be issued for the 2024 tax year.

2024 TAX YEAR: LIST OF CITY OF ST.PETERSBURG LOCAL AD VALOREM TAX EXEMPTION APPROVALS (subject to final approval by Pinellas County Property Tax Appraiser’s Office)