Subject:
Title
Resolution electing to not exempt property under Section 196.1978(3)(o), Florida Statutes, commonly known as the Live Local Act Property Tax Exemption.
label
Recommended Action:
Recommended Action
Recommend adoption of a resolution to not exempt property under the Live Local Act Property Tax Exemption (The Act).
• Section 196.1978(3), Florida Statutes, commonly known as The Act, requires the Pinellas County Property Appraiser (PAO) to exempt rental properties with households whose annual household income is between 80.0%-120.0% of the Area Median Income within a Metropolitan Statistical Area (MSA) from ad valorem taxes.
• With the commencement of the 2027 tax roll, taxing authorities may “opt-out” of providing The Act to certain rental units in multifamily projects that would otherwise qualify for the 80.0% to 120.0% Tax Exemption if the previous three years of the Shimberg Center for Housing Studies Annual Report (Shimberg Annual Report) identifies a surplus of affordable and available units.
• On November 18, 2025, the Board of County Commissioners approved a Resolution to “opt-out” for 2026, but a new resolution is required to continue it through 2027.
• The County finds that the previous three years of the Shimberg Annual Report identify a surplus of affordable and available units within the Tampa St. Petersburg- Clearwater MSA, in which Pinellas County is located, for those households that meet the income criteria for the 80.0% to 120.0% Tax Exemption.
• Pursuant to the provisions of Section 196.1978(3)(o) Florida Statutes, the County remains eligible for the “opt-out” election and, pending approval of this Resolution, elects not to exempt properties eligible for the exemption and requests that PAO not grant any such exemptions.
• This resolution applies to all ad valorem property tax levies imposed by the County. If approved, it will take effect on January 1, 2027, and will expire or be renewed pursuant to the provisions Section 196.1978(3)(o), Florida Statutes.
• The adoption of this resolution has no fiscal impact on the County.
Body
Strategic Priorities:
Prosperity and Opportunity
3.5 Foster business growth.
Smart Service Delivery
4.4 Pursue continuous improvement.
Summary:
Summary
Section 196.1978(3), Florida Statutes, commonly known as The Act, requires the PAO to exempt rental properties with households whose annual household income is between 80.0%-120.0% AMI within a MSA, from ad valorem taxes.
With the commencement of the 2027 tax roll, taxing authorities may “opt-out” of providing The Act to certain rental units in multifamily projects that would otherwise qualify for the 80.0% to 120.0% Tax Exemption if the previous three (3) years of the Shimberg Annual Report identifies a surplus of affordable and available units.
The County finds that the previous three (3) years of the Shimberg Annual Report identify a surplus of affordable and available units in the Tampa-St. Petersburg-Clearwater MSA, in which Pinellas County is located, for those households that meet the income criteria for the 80.0%-120.0%Tax Exemption.
Pursuant to Section 196.1978(3)(o), Florida Statutes, the County is eligible for the “opt-out” election. If this Resolution is approved, the County would not exempt properties eligible for the exemption and would request that the PAO not grant any such exemptions.
This Resolution applies to all ad valorem property tax levies imposed by the County. If approved, it will take effect on January 1, 2027, and expire on January 1, 2028. It may be renewed prior to January 1, 2028, pursuant to Section 196.19787(3)(o), Florida Statutes.
Body
Background Information:
Florida Senate Bill 102, commonly referred to as The Act, was approved by the Governor on March 29, 2023. The Act provides a property tax exemption of up to 100.0% of the assessed value of a qualifying project’s units. To qualify, a project must contain at least 71 housing units and must serve housing occupants with household incomes which are equal to or less than 120.0% of AMI. Qualifying projects are eligible to receive an exemption equal to: (i) 75.0% of the assessed value of units serving occupants whose household income is greater than 80.0% of AMI, but no greater than 120.0% of AMI, or (ii) 100.0% of the assessed value of units serving occupants whose household income is at or below 80.0% of AMI. The ability to opt-out only applies to situations under (i) above.
In 2026, House Bill 1389 amended the Shimberg Annual Report affordable and available unit surplus requirement. Instead of just having a surplus as indicated in the latest Annual Report, there must now be a demonstrated surplus covering the previous three (3) years. The Tampa-St. Petersburg-Clearwater MSA continues to meet that requirement.
On November 18, 2025, the Board approved agenda item #64 (Granicus #25-1411A), Resolution No. 25-138 to opt-out for the 2026 tax roll. This new resolution is required to continue the opt-out for 2027.
Fiscal Impact:
N/A
Staff Member Responsible:
Gregg Mims, Director, Housing and Community Development
Glenn Bailey, Planning Manager, Housing and Community Development, presenter
Partners:
N/A
Attachments:
Resolution
Shimberg Center for Housing Studies Annual Report, December 2025
Shimberg Center for Housing Studies Annual Report, December 2024
Shimberg Center for Housing Studies Annual Report, December 2023
Notice of Public Hearing
Presentation