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The Florida Senate

2009 Florida Statutes

Ad valorem tax deferral for recreational and commercial working waterfront properties.
Section 197.303, Florida Statutes 2009

197.303  Ad valorem tax deferral for recreational and commercial working waterfront properties.--

(1)  The board of county commissioners of any county or the governing authority of any municipality may adopt an ordinance to allow for ad valorem tax deferrals for recreational and commercial working waterfront properties if the owners are engaging in the operation, rehabilitation, or renovation of such properties in accordance with guidelines established in this section.

(2)  The board of county commissioners or the governing authority of the municipality by ordinance may authorize the deferral of ad valorem taxation and non-ad valorem assessments for recreational and commercial working waterfront properties.

(3)  The ordinance shall designate the percentage or amount of the deferral and the type and location of working waterfront property, including the type of public lodging establishments, for which deferrals may be granted, which may include any property meeting the provisions of s. 342.07(2), which property may be further required to be located within a particular geographic area or areas of the county or municipality.

(4)  The ordinance must specify that such deferrals apply only to taxes levied by the unit of government granting the deferral. The deferrals do not apply, however, to taxes or non-ad valorem assessments defined in s. 197.3632(1)(d) levied for the payment of bonds or to taxes authorized by a vote of the electors pursuant to s. 9(b) or s. 12, Art. VII of the State Constitution.

(5)  The ordinance must specify that any deferral granted remains in effect regardless of any change in the authority of the county or municipality to grant the deferral. In order to retain the deferral, however, the use and ownership of the property as a working waterfront must be maintained over the period for which the deferral is granted.

(6)(a)  If an application for deferral is granted on property that is located in a community redevelopment area, the amount of taxes eligible for deferral shall be reduced, as provided for in paragraph (b), if:

1.  The community redevelopment agency has previously issued instruments of indebtedness that are secured by increment revenues on deposit in the community redevelopment trust fund; and

2.  Those instruments of indebtedness are associated with the real property applying for the deferral.

(b)  If the provisions of paragraph (a) apply, the tax deferral shall not apply to an amount of taxes equal to the amount that must be deposited into the community redevelopment trust fund by the entity granting the deferral based upon the taxable value of the property upon which the deferral is being granted. Once all instruments of indebtedness that existed at the time the deferral was originally granted are no longer outstanding or have otherwise been defeased, the provisions of this paragraph shall no longer apply.

(c)  If a portion of the taxes on a property were not eligible for deferral because of the provisions of paragraph (b), the community redevelopment agency shall notify the property owner and the tax collector 1 year before the debt instruments that prevented said taxes from being deferred are no longer outstanding or otherwise defeased.

(d)  The tax collector shall notify a community redevelopment agency of any tax deferral that has been granted on property located within the community redevelopment area of that agency.

(e)  Issuance of debt obligation after the date a deferral has been granted shall not reduce the amount of taxes eligible for deferral.

History.--s. 14, ch. 2005-157; s. 4, ch. 2006-220.