850 Living is a Live Local Community
• The Live Local Act is a State of Florida legislation which offers incentives that allows 850 Living to provide rents below market rate, provided those rents are offered to residents whose combined household adjusted gross income is at or below the 120% average median income for Miami-Dade County.
• Live Local unit occupant(s) adjusted gross income must be certified by the Miami-Dade County appraiser who has indicated that the only way to certify is through the adjusted gross income reported to the Federal Government – which is specifically shown in tax returns [an alternative to copies of filed tax returns is the ‘Tax Return Transcript’ which can be requested from the Internal Revenue Service].
• Potential renters for the remainder of 2025 who wish to take advantage of the below market rents, must provide their 2024 tax returns documentation (copy of returns or transcript). If potential unit occupants are filing jointly (i.e. married, Head of household, family, etc.), the jointly filed return will suffice. If potential occupants of a Live Local unit file separately, each occupant filing must provide his/her returns.
• The copies of the tax returns provided by residents are securely transferred to the Miami-Dade County property appraiser’s office who only uses the data for the income verification associated with the Live Local Act incentive and safeguards them with the highest security – as they do for other housing programs for which tax returns are required (i.e. senior housing, vouchers, etc.).
• Occupants of Live Local Units who wish to maintain the applicable below market rents year over year, will need to continue to provide their returns annually as they are filed.
• Potential residents who cannot or are unwilling to provide their tax returns or tax transcripts, may be ineligible for the below market rents and corresponding Live Local units.