In 2023, SB 102, also known as the Live Local Act, was passed by the Florida Legislature and signed by the Governor. The Live Local Act created a new law, Section 196.1979 Fla. Stat., which allows local governments to provide certain tax relief to facilitate affordable housing. The St. Lucie County Board of County Commissioners enacted this ordinance, June 4, 2024, in compliance with the Live Local Act and under the procedures for adoption of a nonemergency ordinance by a municipal governing body specified in Chapter 166, Florida Statutes, in order to help the continued development and retention of affordable housing in St. Lucie County.

The exemption period shall first apply to the 2025 tax roll and shall expire on December 31, 2028 unless, prior to said expiration date, the Board of County Commissioners shall pass legislation to extend the tax exemption as authorized by Section 196. 1979, Florida Statutes.

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Eligibility Requirements

In accordance with Section 196.1979, Florida Statutes and St. Lucie County Ordinance 24-018, any person whose property meets the following criteria shall be entitled to make an application for an affordable housing property tax exemption:

i. The property must be used to house natural persons or families whose annual household income:

a. Is greater than 30 percent but not more than 60 percent of the median annual adjusted gross income for households within St. Lucie County; or

b. Does not exceed 30 percent of the median annual adjusted gross income for households within St. Lucie County.

ii. The property must be within a multifamily project containing 50 or more residential units, at least 20 percent of which are used to provide affordable housing that meets the requirements of Section 196.1979, Florida Statutes;

iii. The property must be rented for an amount no greater than the amount as specified by the most recent multifamily rental programs income and rent limit chart posted by the Florida Housing Finance Corporation and derived from the Multifamily Tax Subsidy Projects Income Limits published by the United States Department of Housing and Urban Development or 90 percent of the fair market value rent as determined by a rental market study meeting the requirements of Section 42-218 (g), whichever is less;

iv. The property may not have been cited for code violations on three or more occasions in the 24 months before the submission of a tax exemption application;

v. The property may not have any cited code violations that have not been properly remedied by the property owner before the submission of a tax exemption application; and

vi. The property may not have any unpaid fines or charges relating to the cited code violations. Payment of unpaid fines or charges before a final determination on a property’s qualification for an exemption under this Part will not exclude such property from eligibility if the property otherwise complies with all other requirements for the exemption.

Affordable Housing Tax Exemption

(a) Qualified property may receive an ad valorem property tax exemption of:

i. 75% of the assessed value of each residential unit used to provide affordable housing if fewer than 100% of the multifamily project's residential units are used to provide affordable housing.

ii. 100% of the assessed value if 100% of the multifamily project' s residential units are used to provide affordable housing.

(b) If a residential unit that in the previous year qualified for the exemption under this Section and was occupied by a tenant is vacant on January 1, the vacant unit may qualify for the exemption under this Section if the use of the units is restricted to providing affordable housing that would otherwise meet the requirements of this Section and a reasonable effort is made to lease the unit to eligible persons or families.

FHFC Multi-Family Rent and Income Limits

January 15, 2025 is the application submission deadline for the local certification of exemption to be issued for the 2025 tax year.

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