PTO Bulletin 13-05 Pro er Tax Oversi:ht Bulletin: PTO 13-05
To: Property Appraisers, Tax Collectors, Clerks of the Court, Value
Adjustment Board Clerks, Board of County Commissioners,
Taxing Authorities and Interested Parties
From: James McAdams
Date: July 31, 2013
Bulletin: PTO 13-05
FLORIDA DEPARTMENT OF REVENUE
PROPERTY TAX INFORMATIONAL BULLETIN
Community Development; Affordable Housing Property Tax Exemption
The 2013 Legislature enacted Chapter 2013-83, Laws of Florida, (HB 437) effective
May 30, 2013. Section 3 deletes the affordable housing tax exemption for property owned by
certain Florida-based limited partnerships and used for affordable housing for certain income-
qualified persons. This law applies retroactively to the 2013 tax roll.
Section 196.1978, Florida Statutes, is amended to read (words stricken are deletions; words
underlined are additions):
196.1978 Affordable housing property exemption.
Property used to provide affordable housing to serving eligible persons as defined by s.
159.603 1-59603(7) and natural persons or families meeting the extremely low- income,
very-low-income, low-income, or moderate-income limits specified in s. 420.0004, which
property is owned entirely by a nonprofit entity th at is a corporation not for profit,
qualified as charitable under s. 501(c)(3) of the Internal Revenue Code and in compliance
with Rev. Proc. 96-32, 1996-1 C.B. 717, is • . . . • • • .. •
I . . • • . . • . . • • • . . I
1996 1 C.B. 717, shall be considered property owned by an exempt entity and used for a
charitable purpose, and those portions of the affordable housing property that whie-h•
provide housing to natural persons or families classified as extremely low income,very low
income, low income, or moderate income under s. 420.0004 are shall-be exempt from ad
valorem taxation to the extent authorized under in s. 196.196.All property identified in this
section must shall comply with the criteria provided under s. 196.195 for determining
deter of exempt status and to be applied by property appraisers on an annual
basis as defned in '96.'95. The Legislature intends that any property owned by a limited
liability company which is disregarded as an entity for federal
income tax purposes pursuant to Treasury Regulation 301.7701-3(b)(1)(ii) shall be treated
as owned by its sole member .
Bulletin PTO 13-05
Community Development;Affordable Housing Property Tax Exemption
July 31, 2013
Page 2 of 2
The full text of the changes can be accessed at: http://laws.f1rules.org/2013/83.
This bulletin is provided by the Department of Revenue for your general information. If you
wish to discuss this matter, you may send your questions to DORPT0 c)dor.state.fl.us.