Hillsborough Florida NO Agreement, also known as the Non-Qualifying Order (NO) Agreement, is a legal arrangement specific to Hillsborough County in Florida. This agreement is designed to regulate certain categories of property that do not meet the criteria for qualifying under the standard homestead exemption regulations. The Hillsborough Florida NO Agreement is formulated to address properties that don't qualify for exemption due to specific ownership, classification, or usage requirements. These agreements provide an alternative method for owners to receive a reduced property tax assessment without qualifying for the homestead exemption. There are various types of Hillsborough Florida NO Agreements, each catering to different situations and property characteristics: 1. Non-Qualifying Agricultural NO Agreement: This type of agreement is applicable to agricultural properties that fail to meet the criteria for the Agricultural Classification. By entering into and NO Agreement, property owners can receive a reduced assessment and tax rate based on the agricultural use, even if the property doesn't meet the usual Agricultural Classification requirements. 2. Non-Qualifying Residential NO Agreement: This agreement applies to residential properties that cannot qualify for the standard homestead exemption due to specific reasons such as ownership or usage. With this agreement, certain residential property owners can benefit from reduced property tax assessments and tax rates. 3. Non-Qualifying Commercial/Industrial NO Agreement: Commercial or industrial properties that do not meet the standard requirements for classification or exemptions can enter into this type of NO Agreement. It offers property owners the opportunity to obtain a reduced assessment and tax rate based on the commercial or industrial usage of the property. 4. Historic Preservation NO Agreement: This agreement is designed for historic properties that are not eligible for the usual historic preservation exemptions or credits. Property owners can enter into and NO Agreement that allows them to receive reduced assessments and tax rates while still preserving their historic properties. In conclusion, the Hillsborough Florida NO Agreement addresses the needs of property owners facing particular circumstances that hinder their eligibility for regular exemptions. The different types of NO Agreements cater to various property classifications, including agricultural, residential, commercial/industrial, and historic properties. These agreements provide an opportunity for owners to receive reduced property tax assessments, allowing them to manage their tax liabilities effectively.