2010 Florida Code
TITLE XIV TAXATION AND FINANCE
Chapter 193 ASSESSMENTS
PART II GENERAL PROVISIONS(ss. 193.011-193.1556)
193.017 Low-income housing tax credit.
193.017 Low-income housing tax credit.
Property used for affordable housing which has received a low-income housing tax credit from the Florida Housing Finance Corporation, as authorized by s. 420.5099, shall be assessed under s. 193.011 and, consistent with s. 420.5099(5) and (6), pursuant to this section.
(1) The tax credits granted and the financing generated by the tax credits may not be considered as income to the property.
(2) The actual rental income from rent-restricted units in such a property shall be recognized by the property appraiser.
(3) Any costs paid for by tax credits and costs paid for by additional financing proceeds received under chapter 420 may not be included in the valuation of the property.
(4) If an extended low-income housing agreement is filed in the official public records of the county in which the property is located, the agreement, and any recorded amendment or supplement thereto, shall be considered a land-use regulation and a limitation on the highest and best use of the property during the term of the agreement, amendment, or supplement.
History. s. 6, ch. 2004-349.
Disclaimer: These codes may not be the most recent version. Florida may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
