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SB 1520

Affordable Housing Property Tax Exemption

2026 Regular Session Introduced by Alexis Calatayud

Florida bill creating property tax exemptions for affordable housing to reduce development costs and increase low-income housing availability.

Now in Appropriations
#taxationandfinance
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WeVote Research Nonpartisan
Bill Summary · SB 1520

Legislative bill overview

SB 1520 proposes a property tax exemption for affordable housing developments in Florida. The bill would allow qualifying affordable housing properties to receive tax relief, reducing the tax burden on developers and property owners who commit to maintaining affordable units. The specific exemption parameters, duration, and qualifying criteria would be defined within the bill's provisions.

Why is this important

Florida faces a significant affordable housing shortage, with rising property costs pricing out middle and lower-income residents. Property tax exemptions are a common policy tool to incentivize affordable housing development by improving project economics. This bill directly addresses housing affordability while potentially reducing local government tax revenue unless offset by increased development activity.

Potential points of contention

  • Revenue impact on local governments: School districts and municipalities depend on property tax revenue; exemptions reduce funding unless compensated through state reimbursal or higher overall tax bases
  • Definition of "affordable": Disputes over income thresholds, affordability duration requirements, and whether exemptions should apply to for-profit developers versus nonprofits
  • Market distortion concerns: Critics may argue exemptions benefit developers more than end-users and could reduce incentives for market-rate housing development in desirable areas

Compiled from official sources — confirm details with the bill’s official record.

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