The Greenbelt Law was meant to protect working farms. Now, developers use it to protect their profits.
By Josh Salman/Suncoast Searchlight
Original Air Date: March 5, 2025
Host: Ever heard about “Rent-a-Cow”? Developers have used this tax loophole for years, depriving counties of much-needed funding. Josh Salman with the Suncoast Searchlight brings us that story.
Suncoast Searchlight logo.
Josh Salman: Our latest investigation dives into a loophole in Florida’s tax laws that is costing Sarasota and Manatee counties millions of dollars in lost revenue every year.
For decades, a measure designed to preserve farmland—known as the Greenbelt law—has been used by developers in Sarasota and Bradenton to avoid paying their fair share of property taxes. The law, originally passed in 1959 to protect working farms, offers steep tax breaks to landowners using their property for agriculture. But over the years, developers have figured out how to master this loophole.
By leasing land to cattle grazers, developers can qualify for these agricultural tax rates—even if they plan to eventually turn that land into shopping malls or housing developments. In some cases, the developers are saving millions of dollars in taxes, an expense that instead falls on the general tax base instead of the very companies profiting.
A recent investigation by Suncoast Searchlight found that developers in our region are costing local governments at least $6.5 million in lost property taxes every year. That’s money that could be going to improve infrastructure, build roads, or fund schools. Instead, it’s being diverted to developers who are legally sidestepping the system.
For example, Neal Communities, one of the area’s most active developers, paid just $55 in ad valorem property taxes last year on a site worth $2.2 million. Meanwhile, a homeowner with a modest 1,900 square foot home nearby paid far more in taxes.
Local officials are well aware of the issue, but as Manatee County Property Appraiser Charles Hackney pointed out, the developers are not breaking any laws. They’re simply taking advantage of a loophole that was never meant for urban sprawl.
The problem, according to local officials, is that the Greenbelt law hasn’t kept up with modern development. Instead of protecting farmland, it’s being used by developers to pad their profits at the expense of local communities.
It’s clear that this loophole, which some have dubbed the “Rent-a-Cow” strategy, has been a boon for developers—but a bust for local taxpayers.
And while some politicians have tried to fix the problem in the past, including Steve Geller, a former Florida senator who is now a county commissioner in Broward, the issue remains unresolved.
The bottom line: Florida’s Greenbelt law was meant to preserve agriculture, but now it’s being exploited by real estate developers to avoid taxes while local governments foot the bill for the growth.
As always, we’ll keep an eye on this story as it continues to unfold. This has been Josh Salman with the Suncoast Searchlight.
Host: To read the full story, go to suncoastsearchlight.org/sarasota-bradenton-developers-score-big-tax-breaks-with-rent-a-cow-loophole.
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