This bill amends Florida Statutes to establish new requirements for the assessment of resale-restricted affordable housing. It mandates that owners of such properties submit a specific application to the property appraiser, detailing the legal limitations on the property and including an affidavit affirming their obligation to adhere to resale restrictions. The bill also introduces a new section defining terms related to resale-restricted affordable housing, which is characterized as a land-use regulation that affects the highest and best use of the property.

Additionally, the bill specifies that resale-restricted affordable housing must be assessed according to existing valuation laws, taking into account the limitations imposed by the resale restrictions. The property appraiser is required to consider these limitations when determining the just valuation of the property. The effective date for this legislation is set for July 1, 2025.

Statutes affected:
S 556 Filed: 193.011