Fort Lauderdale banana farm on $33 million lot seeks agricultural tax break, but Broward County rejects it

The owners of a two-acre lot in downtown Fort Lauderdale are at odds with the Broward County Property Appraiser's Office over bananas growing on the property.

The owner, The Benjamin Companies, is seeking an agricultural tax break. Under Florida state law, land used for commercial agricultural operations can be classified as agricultural and taxed based on agricultural use instead of market value.

The property appraiser's office rejected the company's application to reclassify the property, located at SE 8th Street and SW 2nd Avenue.

"At this juncture, the property owner has filed a value adjustment board petition, which is an opportunity for them to challenge our decision," said Mila Schwartzreich, general counsel for the Broward County Appraiser's Office.

Fred Segal, president of the Broward Farm Bureau, noted that developers using empty lots to plant crops or graze cattle on a small scale for tax breaks is not a new tactic. However, he views the downtown operation as a legitimate commercial business.

"(The grower has) a business plan, he's got existing contracts for what he's growing and he's meeting the requirements," Segal said.

The New York City-based owners purchased the lot for $33 million in 2022 when it was a blacktop parking lot frequently used by courthouse visitors. Three years ago, the Fort Lauderdale City Commission approved plans to build two 30-story towers on the site.

In 2025, the owners put the land up for sale, and last November they began renting the lot to a banana farmer.

"Having a banana plantation in the middle of a downtown urban area, I think, can end up being a positive tourist draw," Segal said.

The farmer, who operates similar banana farms in Davie, planted 1,000 banana plants on the lot. However, fruit is not the primary crop.

"He sells the leaves and selling them to whether it be decorators, party planners, hotels or zoos," Segal said. "The grower has other locations in the county where he is growing bananas and he basically has more demand than he can currently supply. So, he needs more area to be growing to meet existing demands for supply."

The banana leaves sell for $5 each, which could generate $50,000 for the grower.

The property owner did not offer any comments to CBS News Miami.  

If the value adjustment board rules in favor of the property appraiser's office, the land's owner could file a lawsuit, Schwartzreich said.