Lessees Must Pay Real Property Tax On Upgrades: Fla. Court

Law360, New York (March 20, 2014, 5:23 PM EDT) -- The Florida Supreme Court ruled in two separate cases Thursday that individuals who hold long-term leases on municipal land and make improvements on the property must pay real property taxes on those improvements instead of a personal property tax, affirming a lower-court decision.

In both cases, the taxpayers argued that they should pay an intangible personal property tax on the improvements instead of an ad valorem real property tax because they lacked equitable ownership in the properties. But the high court found that under the terms...
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