Property Tax Alert–Florida

February 2005

After an economic development Florida property tax exemption has been granted, tangible personal property purchased by a business to replace or increase equipment or for additional improvements to real property would qualify for the exemption only if it facilitates an expansion of an existing business. Property that is acquired to replace existing property may not be considered to facilitate a business expansion and, therefore, would not be exempt.

Please contact Rash & Associates for more information.