Live Local Act Exemption Applications in Hallandale Beach

How an exemption application comes together

The Live Local Act added Section 196.1978 to the Florida Statutes. It exempts multifamily properties from property tax when more than 70 units are reserved for residents earning no more than 120 percent of area median income. Units held for residents at or below 80 percent can be exempt in full, while units in the 80 to 120 percent band can be exempt at 75 percent. Rent on those units is capped at the lower of two numbers: the published affordable limit or 10 percent below market rent.

The exemption is never automatic. Two agencies handle it in a fixed order: the Florida Housing Finance Corporation issues its certification first, then the DR-504AFH return reaches the county property appraiser by March 1. Leave out a step or file late, and the savings for that tax year are usually lost. We help each owner the way we would help a neighbor stuck on a difficult form: we work from the actual numbers, explain them in plain terms, and file only when the property really qualifies.

What an exemption application with us covers

Checking qualification

We tally qualifying units, test each lease's rent against current income and rent limits, and confirm the property is over the more-than-70-unit line. If it comes up short, you hear why and what would need to change.

Testing rents and incomes

The 10 percent below market test can be stricter than the published limit, so market rent comparisons count. We record how market rent was set so the number stands up if the property appraiser questions it.

The FHFC certification request

We put together the request to the Florida Housing Finance Corporation with the unit list, rent schedule and owner attestations. More detail on this step is on our FHFC Certification Filing page.

The DR-504AFH return

After certification arrives, we complete the county return and its schedules for the property appraiser, matched to the parcels listed on your tax bill.

A complete file for your records

You receive copies of every filing, the math behind each figure and a brief note on what has to remain true during the year to keep the exemption.

Signs it is time to look at an application

• You rent many units below market

  If a large share of your leases already sit under area rents, you may be carrying affordable units without claiming the tax benefit for them.

• Your tax bill jumped after reassessment

  Rising assessed values hit rental properties hard in South Florida. The exemption applies to the assessed value of qualifying units, so it can offset a big part of that increase.

• A past application was denied

  Denials often trace back to a missing FHFC certification, a rent above the lower limit, or a late county filing. We read the denial letter and find the actual cause before refiling the next year.

• You bought a property with set-aside units

  A new owner has to file in their own name. Prior certifications do not carry over on a sale.

From the first call to the filing

1. 1

   Eligibility check

   By phone or video, we ask about unit count, current rents and how tenant incomes are recorded. By the end of that call you will usually know if the exemption is worth going after.

2. 2

   Document review at our office

   You send the rent roll, lease summaries and income records. We test every unit against the limits and mark any lease that would fail, with the reason.

3. 3

   Certification with FHFC

   We assemble the certification request and send it to the Florida Housing Finance Corporation. During review we follow its status and respond to agency questions, so the certificate the county needs is ready on time.

4. 4

   County filing by March 1

   We file the DR-504AFH with the property appraiser, attach the certification and confirm the county received it. Then we go over what next year's Annual Recertification will require.

How we price an application

Your fee reflects the work your file needs, not a fixed bundle. You see the scope in writing before we begin, so the invoice matches what you expected. During the first call, a savings estimate lets you compare what the exemption could be worth against that fee.

How many units and parcels

A single building on one parcel takes less work than a project across several parcels, because every parcel needs a schedule of its own.

State of the income files

Tenant income files that are current and complete can be tested fast. Gaps add hours and may mean Resident Income Verification has to happen first.

Supporting the market rent figure

For some properties, proving the 10 percent margin takes a closer look at area rents, and that research adds time.

When you start

Starting in late fall gives room to correct mistakes. Starting close to the March 1 county deadline tightens the schedule.