Prior to the granting of any tax exemption, the property owner must execute a preservation
covenant for the term of the exemption. Such covenant shall be in a form approved
by the division of historic resources division, department of state, and shall require
that the property owner must maintain the character of the property and the qualifying
improvements to the property during the ten-year exemption period. This requirement
shall be binding on the current property owner, transferees, and their heirs, successors,
or assigns. Violation of the terms of the covenant shall result in the property owner
being subject to the payment of the differences between the total amount of taxes
which would have been due in March in each of the previous years in which the covenant
was in effect had the property not received the exemption and total amount of taxes
actually paid in those years, plus interest on the difference calculated as provided
in F.S. § 212.12(3).
(Ord. No. 687, § 1(6A-11), 12-13-1994)
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