Ad Valorem Tax Exemption – F.S. 196.1978(4)

Per Florida Statute 196.1978(4), effective July 1, 2024, an exemption from ad valorem taxes is available for certain properties that are subject to a Land Use Restriction Agreement with the Florida Housing Finance Corporation (“Florida Housing”) and are used as an affordable housing property that provides housing to natural persons or families meeting the extremely-low-income, very-low-income, or low-income limits specified in s. 420.0004.

Florida Housing has received stakeholder interest in understanding how Florida Housing will accommodate Developments that have already been awarded Florida Housing funding but can meet the requirements of the statute to avail themselves of the ad valorem tax exemption through their local property appraiser.

This website contains documents that detail our written policies and procedures for Applicants that have been awarded Florida Housing funding for Developments and that can also meet the statutory requirements. For potential Applicants of future RFAs, information will be included in the RFAs.