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Largo opts out of Live Local Act middle‑market tax exemption for 80–120% AMI units
Summary
The commission voted to opt out of the Live Local Act property‑tax exemption for newly constructed rental units serving households at 80–120% of area median income; staff said Pinellas County’s housing report shows a surplus at 0–120% AMI and identified one developer pipeline application this year.
On Sept. 16 the Largo City Commission adopted Resolution 2444 to opt the city out of the Live Local Act’s middle‑market (80–120% AMI) property‑tax exemption for newly constructed rental units. Staff briefed commissioners on the state law, which preempts 100% exemptions for units serving 80% AMI and allows cities to opt out of the 75% exemption for units serving 80–120% AMI.
City staff said the Pinellas County Schomburg (housing) report indicates a surplus for housing at the 0–120% AMI level and noted that, in the past year, only one development in the city applied and received state approval for the exemption. Staff explained the opt‑out requires a two‑thirds commission vote and a new resolution must be adopted annually if the city wishes to remain opted out.
Commissioner Smith and others expressed concern about rental affordability and emphasized the need to continue affordable‑housing efforts; staff and other commissioners said opting out of the 80–120% tier does not affect the city’s other affordable‑housing work. The commission approved the opt‑out resolution.
