The loophole: Florida law allows developers and speculators to purchase thousands of acres of prime virgin land and then avoid a steep annual tax assessment by planting trees, growing grapes or raising cattle on the dirt until it is ready for commercial development.
That endeavor automatically puts the land in the agriculture-zoned category, the lowest tax level in the state.
For example: To get a lower tax bill, the Hyatt Hotel chain, owned by the Pritzker family of Chicago, grows pine trees on undeveloped land it owns next to the Orange County Convention Center annex on International Drive.
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