If an improvement qualifies an historic property for an exemption under F.S. § 196.1997
and the property is used for nonprofit or governmental purposes and is regularly and
frequently open for the public's visitation, use, and benefit, the city commission
by ordinance may authorize the exemption from ad valorem taxation of up to 100 percent
of the assessed value of the property, as improved, any provision of section 86-92 to the contrary notwithstanding, if all other provisions of sections 86-94, 86-95 and 86-96 are complied with. However, the assessed value of the improvement must be equal to
at least 50 percent of the total assessed value of the property as improved. The exemption
applies only to real property to which improvements are made by or for the use of
the existing owner. In order for the property to qualify for the exemption provided
in this section, any such improvements must be made on or after the day the ordinance
granting the exemption is adopted.
(Ord. No. 687, § 1(6A-7), 12-13-1994)
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