Fla. Appeals Court Scuttles Developer's Tax Refund Bid

Law360, New York (January 17, 2014, 4:52 PM EST) -- A Florida appeals court on Friday upheld a lower court ruling denying a tax refund to developer Gulf Atlantic Office Properties Inc. over a condominium it had built in a former commercial development zone in St. Petersburg.

According to court documents, Gulf built a condo in an area designated as an enterprise zone until 2005. Among other things, the zoning allowed developers to recoup taxes on raw construction materials, which the developer sought to do. But Gulf Atlantic purchased the materials after the site lost the...
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