The Newly Constructed Multifamily Project Ad Valorem Tax Exemption (also known as the “missing middle” tax exemption) encourages new or recently constructed market rate multifamily rental developments to offer affordable and workforce units. Interested owners must first apply with Florida Housing to obtain a Multifamily Middle Market certification notice and then with their local property appraiser, by March 1st, to obtain the exemption. Before issuing the Multifamily Middle Market certification notice, Florida Housing will review specific criteria and determine if a certification notice can be issued. While a certificate from Florida Housing is required in order to receive the exemption, it is not a guarantee that an exemption will be issued. The property appraiser will determine eligibility and final issuance of an exemption. In order to be eligible for this property tax exemption, the following requirements, at minimum, must be met.

More than 70 units of a multifamily rental development must be set aside for affordable housing. Those designated units must serve:

• Up to 80% AMI per unit for an 100% property tax exemption; OR
• 81% up to 120% AMI per unit for a 75% property tax exemption. Check with your local property appraiser as to whether or not it has opted out of the 75% exemption pursuant to s. 196.1978(3), F.S.

The Area Median Income (AMI) is determined through multifamily rental programs income and rent limit chart derived from the Multifamily Tax Subsidy Projects Income Limits published by the United States Department of Housing and Urban Development, or 90% of the fair market value rent as determined by a qualifying rental market study.

Source: Section 196.1978(3), F.S.

Links:

Certification Portal

Multifamily Tax Subsidy Projects Income and Rent Limits

Property Appraiser Search: Florida Dept. of Revenue - Property Tax - Local Officials 

Certification Portal (opening Fall 2025)

How-to Guide for the Multifamily Middle Market Certification

FHFC Multifamily Middle Market Certification Frequently Asked Questions

For questions or comments regarding the Multifamily Middle Market Certification email
Middle.Market.Cert@Floridahousing.org