§ 29-130. [Approval by property appraiser.]

If the Property Appraiser has received a timely filed application with all supporting documentation and is satisfied that the property is entitled to a reduction in assessment under this ordinance and Section 193.703 and other applicable Florida Statutes, the property appraiser shall approve the application, and, to the extent herein authorized, the value of such residential improvements used as qualifying living quarters shall be excluded from the value of the property for purposes of ad valorem taxation. The value excluded shall not exceed the lesser of:

(a)

The increase in assessed value resulting from construction or reconstruction of the property for its use as living quarters; or

(b)

Twenty percent of the total assessed value of the property as improved.

(Ord. No. 04-25, § 6, 2-3-04)