State legislature discusses the cost of tax breaks on affordable living spaces

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The state Revenue Estimating Conference considered the cost of HB 1299, a proposal regarding affordable living spaces, on Friday. The bill allows cities and counties to give tax breaks to people with accessory dwelling units on their property.

These accessory dwelling units are attached living areas, sectioned-off parts of a home or something like a guest house. The space needs a fully operating kitchen and bathroom to qualify.

The discussion at the Impact Conference centered on how this housing would impact the value of the property and its effect on taxes. They projected a loss of $781 million in tax revenue if these living spaces make up 35% of the property value.

Ultimately, the real figure will depend on how local governments enact the exemptions. Until then, HB 1299 will continue moving through the Florida Legislature.

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