Pasco and other counties will likely be allowed to opt out giving huge tax breaks to new apartment developers who they say are not providing affordable housing as envisioned. State lawmakers wrote the definition of affordable so broadly that it could be applied to complexes advertising luxury features and high rents. Pasco estimated that the loss in tax revenue from just these two complexes could be $86 million through 2059.
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Pasco County Opts Out Of Property Tax Break For New Apartment Developers
