Property Tax Alert: Florida

January 2004

In Florida, legislation recently passed prorated assessments against common elements of subdivision property for property tax purposes and is effective January 1, 2004, and applies to common elements in subdivisions planned before and after that date. A "common element" of a subdivision includes any subdivision property not already sold, or intended to be sold, into private ownership that is designated on the site plan or the subdivision plat as a common element. It is also the intended use of the property and not the ownership interest that will determine whether assessments placed on the property will be prorated among the subdivision lot owners.

Please contact Rash & Associates for more information.