Accardo v. Brown
Annotate this CaseAt issue in this case was whether the land and improvements on certain leaseholds that were created under long-term leases granted by Santa Rosa County were subject to the ad valorem real property tax. The leaseholders argued that the leasehold interests were taxable only as intangible personal property because the leaseholders were not the actual owners of the property under Florida law, and there could be no equitable ownership absent the right to acquire legal title. The First District Court of Appeals concluded that, given the nature of their perpetual leasehold interests, the leaseholders were the equitable owners of the real property and the improvements thereon, and therefore, the land and improvements at issue were subject to the ad valorem real property tax. The Supreme Court approved of the decision reached by the First District, concluding that the leaseholders were the equitable owners of the real property at issue.
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