§ 2-29-102. Deferral of large assessments against homesteads.

(a)

The owner of any large lot or parcel meeting the qualifications for homestead exemption under Section 196.031, Florida Statutes, at the time the project is approved, with a total assessment in excess of twice the average per lot or parcel calculation for all parcels within the project, may, upon timely filing of an appropriate application, obtain deferral of payment of any amount in excess of twice the average per lot or parcel assessment. The amount in excess of twice the average per lot or parcel assessment, plus interest, shall be a lien against the lot or parcel of land and due upon transfer or subdividing of the lot or parcel. If any lot or parcel of land assessed for an amount in excess of twice the average lot or parcel is not transferred or subdivided within twenty (20) years, or such additional time period as granted by the board of county commissioners after the date of adoption of the resolution establishing the assessments and imposing the liens, the assessment shall be due and payable. The excess deferred hereunder shall be deemed a public benefit and shall not be added to the cost of the project assessed to the owners of abutting lots or parcels of land.

(b)

The owner must apply for deferral of the assessment and enter into an agreement for deferral of the assessment prior to the date of the hearing establishing the special assessment liens or at such earlier date as provided in a written notice from the county.

(c)

Interest shall be charged against the deferred assessment at the rate provided for the portion of the special assessment to be paid in annual installments.

(d)

All deferred assessment liens provided for in this section shall be due and payable prior to or at the time the property is transferred or subdivided.

(Ord. No. 05-28, § 2, 4-5-05)