TAX NEWS - JULY 2009

Florida tax exemptions: Exemption for Educational Institutions to Operate Retroactively

Florida Department of Revenue Property Tax Informational Bulletin

The 2009 Legislature enacted Chapter 2009-130, Laws of Florida, effective July 1, 2009. (SB 1580). Section 3 provides that the exemption granted to educational institutions in s. 196.192, Florida Statutes, shall operate retroactively to January 1, 2005.

Section 3 is created to read (words stricken are deletions; words underlined are additions): The amendment to s. 196.192, Florida Statutes, made by section 2 of chapter 2008-193, Laws of Florida, shall operate retroactively to January 1, 2005.

Section 2 of Chapter 2008-193, L.O.F., was amended s. 196.192, F.S. to read (words stricken are deletions; words underlined are additions):

196.192 Exemptions from ad valorem taxation. — Subject to the provisions of this chapter:

(1) All property owned by an exempt entity, including educational institutions, and used exclusively for tax exempt purposes shall be totally exempt from ad valorem taxation.

(2) All property owned by an exempt entity, including educational institutions, and used predominantly for tax exempt purposes shall be exempted from ad valorem taxation to the extent of the ratio that such predominant use bears to the nonexempt use.