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 creates 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 modifies the factors that property appraisers must consider when determining just valuation, explicitly including the requirement to assess resale-restricted affordable housing under the existing law. The property appraiser is instructed to take into account the limitations imposed by the resale restrictions when calculating the property's value. The effective date for these changes is set for July 1, 2025.

Statutes affected:
S 556 Filed: 193.011