ServicesAnnual Recertification
Annual Live Local Recertification in Lake Worth Beach
The Live Local Act tax exemption does not carry forward on its own. Each year your property has to qualify again on current rents, current tenants and current income limits. We review your files first, tell you what we found, then prepare the renewal filings.
What annual recertification covers
Under Florida's Live Local Act, a qualifying multifamily property can have part or all of its assessed value exempt from property tax. The exemption is granted one year at a time. To keep it, an owner requests a new certification from the Florida Housing Finance Corporation (FHFC), then files Form DR-504AFH with the county property appraiser by March 1. The FHFC request has to come first, so its deadline falls ahead of the county's.
The work is not filling the forms again. The forms are short. The hard part is proving that last year's qualifying units still qualify. Tenants move out, rents go up at renewal, income limits get republished each spring, and a unit that met the 80 percent of area median income test in January may not meet it after a turnover in August. We start by checking each restricted unit against the current numbers and showing you the results in plain terms before anything is filed.
What we do in a recertification
- 01
Rent roll review
We go through your current rent roll unit by unit and mark which units are counted toward the exemption. We flag any unit whose rent has moved above the applicable limit.
- 02
Rent limit comparison
Restricted rents must stay at or below the lesser of the published affordable rent limit for the unit size and 90 percent of the market rent for comparable units. We check both figures, because the lower one controls and it can change year to year.
- 03
Tenant file check
Each counted unit needs an income certification for the tenant in place. We look for missing signatures, expired documents and turnovers where no new certification was done. Where files need fresh paperwork, our Resident Income Verification service can handle it.
- 04
Unit count confirmation
The exemption depends on the property keeping more than 70 units set aside as affordable. We confirm the count still clears that line after the year's move-ins and move-outs.
- 05
FHFC request and DR-504AFH filing
Once the findings are clean, we prepare the FHFC certification request and, after the certification is issued, the DR-504AFH for the property appraiser. You review and sign everything before it goes out.
Questions about Annual Recertification?
Call(561) 783-2260Signs your recertification needs attention now
Rents went up at renewal
A standard increase on a restricted unit can push it over the limit. Once a unit is over the line, it no longer counts toward the exemption.
High turnover this year
Every new tenant in a restricted unit needs a new income certification. Leasing offices under pressure often skip this step.
Your unit count is close to 71
If the property sits near the minimum, losing two or three qualifying units can put the whole exemption at risk, not just those units.
The person who filed last year is gone
When a property manager or asset manager leaves, the working files and deadline notes often leave too. We rebuild the record from what you have.
The appraiser asked questions
A letter from the property appraiser's office about last year's filing usually points to a gap that will come up again. It is better to close it before this year's submission.
How a recertification runs
- 1
A short call
You tell us the property, the unit count and how last year's filing went. We tell you what documents we need, usually the rent roll, lease summaries and tenant income files.
- 2
File review
We work through the documents at our office or with you by video. Every restricted unit gets checked for rent, income certification and status.
- 3
Written findings
You get a plain list: units that qualify, units that do not and why, and what can be fixed before the deadline. We do not recommend steps until you have seen what we found.
- 4
Corrections
Where a file is missing a certification or a rent needs adjusting at the next renewal, we help you get it done. Some issues cannot be fixed for this year, and we will say so.
- 5
Filing
We prepare the FHFC request, then the DR-504AFH once certification is issued. We keep copies of what was filed for next year's cycle.
What affects the cost of recertification
The fee depends on how much checking the files need, not on the size of the tax savings. A property with clean records and few turnovers takes far less time than one where tenant files are scattered across two management companies. We give you a clear fee after the first review, so nothing is added later without your say.
- Number of restricted units
- More counted units means more files to check against rent and income limits.
- Condition of tenant files
- Complete, signed income certifications move quickly. Missing or expired ones take time to track down and document.
- Turnover during the year
- Each new tenant in a restricted unit adds a certification to verify.
- Time before the deadline
- Starting in the fall leaves room to correct problems. Starting in late February leaves less room and more work packed into a short window.
Questions about annual recertification
Does my exemption renew automatically each year?
No. The Live Local Act exemption requires a new FHFC certification and a new DR-504AFH filing every year. If you miss either step, the exemption does not apply for that tax year.
If a single unit stops qualifying, do we lose the whole exemption?
Not by itself. The exempt portion is figured on the units that still meet the rent and income tests, so one failed unit trims the benefit rather than ending it. The bigger risk comes when several units fail and the affordable count slips to 70 or below, because then the property misses the threshold altogether. We confirm the count before anything is filed for that reason.
When should we start?
We suggest the fall before the filing year. That leaves time to find files that need new income certifications and to adjust rents at lease renewal if needed. Starting late is possible, but fewer problems can be corrected in time.
We filed the first application ourselves. Can you take over recertification?
Yes. We start from your prior FHFC certification and DR-504AFH, then check what has changed since. If the original filing has gaps, we will point them out.
Our property is in Boynton Beach. Can you still handle the renewal?
We can. Our clients hold properties across Palm Beach County, from Greenacres and Lantana north to West Palm Beach. The file review runs at our office or over phone and video, so the property's address changes very little about how the work goes. The only local difference is which appraiser's office receives the DR-504AFH, and we prepare it for the right one.
Find out where this year's filing stands
Tell us about the property and we will explain what a renewal review involves and what the exemption may be worth to you this year. If your first year is still ahead, ask about Live Local Act Exemption Applications instead.