(1) All property owned by an exempt entity, including educational institutions, and used exclusively for 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 exempt purposes shall be exempted from ad valorem taxation to the extent of the ratio that such predominant use bears to the nonexempt use.
(3) All tangible personal property loaned or leased by a natural person, by a trust holding property for a natural person, or by an exempt entity to an exempt entity for public display or exhibition on a recurrent schedule is exempt from ad valorem taxation if the property is loaned or leased for no consideration or for nominal consideration.
For purposes of this section, each use to which the property is being put must be considered in granting an exemption from ad valorem taxation, including any economic use in addition to any physical use. For purposes of this section, property owned by a limited liability company, the sole member of which is an exempt entity, shall be treated as if the property were owned directly by the exempt entity. This section does not apply in determining the exemption for property owned by governmental units pursuant to s. 196.199.
History.—s. 3, ch. 71-133; s. 2, ch. 88-102; s. 2, ch. 89-122; s. 3, ch. 2007-106; s. 2, ch. 2008-193.
Structure Florida Statutes
Title XIV - Taxation and Finance
196.001 - Property Subject to Taxation.
196.011 - Annual Application Required for Exemption.
196.015 - Permanent Residency; Factual Determination by Property Appraiser.
196.021 - Tax Returns to Show All Exemptions and Claims.
196.031 - Exemption of Homesteads.
196.041 - Extent of Homestead Exemptions.
196.061 - Rental of Homestead to Constitute Abandonment.
196.071 - Homestead Exemptions; Claims by Members of Armed Forces.
196.075 - Additional Homestead Exemption for Persons 65 and Older.
196.082 - Discounts for Disabled Veterans; Surviving Spouse Carryover.
196.091 - Exemption for Disabled Veterans Confined to Wheelchairs.
196.095 - Exemption for a Licensed Child Care Facility Operating in an Enterprise Zone.
196.101 - Exemption for Totally and Permanently Disabled Persons.
196.121 - Homestead Exemptions; Forms.
196.131 - Homestead Exemptions; Claims.
196.141 - Homestead Exemptions; Duty of Property Appraiser.
196.151 - Homestead Exemptions; Approval, Refusal, Hearings.
196.171 - Homestead Exemptions; City Officials.
196.173 - Exemption for Deployed Servicemembers.
196.181 - Exemption of Household Goods and Personal Effects.
196.182 - Exemption of Renewable Energy Source Devices.
196.183 - Exemption for Tangible Personal Property.
196.185 - Exemption of Inventory.
196.192 - Exemptions From Ad Valorem Taxation.
196.193 - Exemption Applications; Review by Property Appraiser.
196.194 - Value Adjustment Board; Notice; Hearings; Appearance Before the Board.
196.195 - Determining Profit or Nonprofit Status of Applicant.
196.1961 - Exemption for Historic Property Used for Certain Commercial or Nonprofit Purposes.
196.1975 - Exemption for Property Used by Nonprofit Homes for the Aged.
196.1976 - Provisions of Ss. 196.197(1) or (2) and 196.1975; Severability.
196.1977 - Exemption for Property Used by Proprietary Continuing Care Facilities.
196.1978 - Affordable Housing Property Exemption.
196.198 - Educational Property Exemption.
196.1983 - Charter School Exemption From Ad Valorem Taxes.
196.1985 - Labor Organization Property Exemption.
196.1986 - Community Centers Exemption.
196.1987 - Biblical History Display Property Exemption.
196.199 - Government Property Exemption.
196.1993 - Certain Agreements With Local Governments for Use of Public Property; Exemption.
196.1995 - Economic Development Ad Valorem Tax Exemption.
196.1996 - Economic Development Ad Valorem Tax Exemption; Effect of Ch. 94-136.
196.1997 - Ad Valorem Tax Exemptions for Historic Properties.
196.1998 - Additional Ad Valorem Tax Exemptions for Historic Properties Open to the Public.
196.1999 - Space Laboratories and Carriers; Exemption.
196.2001 - Not-for-Profit Sewer and Water Company Property Exemption.
196.2002 - Exemption for S. 501(c)(12) Not-for-Profit Water and Wastewater Systems.
196.202 - Property of Widows, Widowers, Blind Persons, and Persons Totally and Permanently Disabled.
196.24 - Exemption for Disabled Ex-Servicemember or Surviving Spouse; Evidence of Disability.
196.26 - Exemption for Real Property Dedicated in Perpetuity for Conservation Purposes.
196.28 - Cancellation of Delinquent Taxes Upon Lands Used for Road Purposes, Etc.
196.31 - Taxes Against State Properties; Notice.
196.32 - Executive Office of the Governor; Consent Required to Certain Assessments.