Bill Text: FL H1329 | 2010 | Regular Session | Introduced

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Bill Title: Inheriting Homestead Property

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2010-04-30 - Died in Economic Development & Community Affairs Policy Council [H1329 Detail]

Download: Florida-2010-H1329-Introduced.html

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HJR 1329

1	House Joint Resolution
2	A joint resolution proposing an amendment to Section 4 of
3	Article VII of the State Constitution to allow the cap on
4	homestead property assessments and the transfer of that
5	cap to a new homestead to inure to the spouse, child, or
6	grandchild of the property owner who inherits the property
7	if the property becomes the homestead of the inheritor.
8
9	Be It Resolved by the Legislature of the State of Florida:
10
11	That the following amendment to Section 4 of Article VII of
12	the State Constitution is agreed to and shall be submitted to
13	the electors of this state for approval or rejection at the next
14	general election or at an earlier special election specifically
15	authorized by law for that purpose:
16	ARTICLE VII
17	FINANCE AND TAXATION
18	SECTION 4. Taxation; assessments.-By general law
19	regulations shall be prescribed which shall secure a just
20	valuation of all property for ad valorem taxation, provided:
21	(a) Agricultural land, land producing high water recharge
22	to Florida's aquifers, or land used exclusively for
23	noncommercial recreational purposes may be classified by general
24	law and assessed solely on the basis of character or use.
25	(b) As provided by general law and subject to conditions,
26	limitations, and reasonable definitions specified therein, land
27	used for conservation purposes shall be classified by general
28	law and assessed solely on the basis of character or use.
29	(c) Pursuant to general law tangible personal property
30	held for sale as stock in trade and livestock may be valued for
31	taxation at a specified percentage of its value, may be
32	classified for tax purposes, or may be exempted from taxation.
33	(d) All persons entitled to a homestead exemption under
34	Section 6 of this Article shall have their homestead assessed at
35	just value as of January 1 of the year following the effective
36	date of this amendment. This assessment shall change only as
37	provided in this subsection.
38	(1) Assessments subject to this subsection shall be
39	changed annually on January 1st of each year; but those changes
40	in assessments may shall not exceed the lower of the following:
41	a. Three percent (3%) of the assessment for the prior
42	year.
43	b. The percent change in the Consumer Price Index for all
44	urban consumers, U.S. City Average, all items 1967=100, or
45	successor reports for the preceding calendar year as initially
46	reported by the United States Department of Labor, Bureau of
47	Labor Statistics.
48	(2) No assessment shall exceed just value.
49	(3) After any change of ownership, as provided by general
50	law, homestead property shall be assessed at just value as of
51	January 1 of the following year, unless the provisions of
52	paragraphs (7) and (8) paragraph (8) apply. Thereafter, the
53	homestead shall be assessed as provided in this subsection.
54	(4) New homestead property shall be assessed at just value
55	as of January 1st of the year following the establishment of the
56	homestead, unless the provisions of paragraphs (7) and (8)
57	paragraph (8) apply. That assessment shall only change as
58	provided in this subsection.
59	(5) Changes, additions, reductions, or improvements to
60	homestead property shall be assessed as provided for by general
61	law; provided, however, after the adjustment for any change,
62	addition, reduction, or improvement, the property shall be
63	assessed as provided in this subsection.
64	(6) In the event of a termination of homestead status, the
65	property shall be assessed as provided by general law.
66	(7) The provisions of this subsection shall inure to the
67	surviving spouse, child, or grandchild of the property owner who
68	inherits the homestead property if such spouse, child, or
69	grandchild makes the property his or her homestead as provided
70	in Section 6 of this Article. The provisions of this amendment
71	are severable. If any of the provisions of this amendment shall
72	be held unconstitutional by any court of competent jurisdiction,
73	the decision of such court shall not affect or impair any
74	remaining provisions of this amendment.
75	(8)a. A person who establishes a new homestead as of
76	January 1, 2009, or January 1 of any subsequent year and who has
77	received a homestead exemption pursuant to Section 6 of this
78	Article as of January 1 of either of the two years immediately
79	preceding the establishment of the new homestead is entitled to
80	have the new homestead assessed at less than just value. If this
81	revision is approved in January of 2008, a person who
82	establishes a new homestead as of January 1, 2008, is entitled
83	to have the new homestead assessed at less than just value only
84	if that person received a homestead exemption on January 1,
85	2007. The assessed value of the newly established homestead
86	shall be determined as follows:
87	1. If the just value of the new homestead is greater than
88	or equal to the just value of the prior homestead as of January
89	1 of the year in which the prior homestead was abandoned, the
90	assessed value of the new homestead shall be the just value of
91	the new homestead minus an amount equal to the lesser of
92	$500,000 or the difference between the just value and the
93	assessed value of the prior homestead as of January 1 of the
94	year in which the prior homestead was abandoned. Thereafter, the
95	homestead shall be assessed as provided in this subsection.
96	2. If the just value of the new homestead is less than the
97	just value of the prior homestead as of January 1 of the year in
98	which the prior homestead was abandoned, the assessed value of
99	the new homestead shall be equal to the just value of the new
100	homestead divided by the just value of the prior homestead and
101	multiplied by the assessed value of the prior homestead.
102	However, if the difference between the just value of the new
103	homestead and the assessed value of the new homestead calculated
104	pursuant to this sub-subparagraph is greater than $500,000, the
105	assessed value of the new homestead shall be increased so that
106	the difference between the just value and the assessed value
107	equals $500,000. Thereafter, the homestead shall be assessed as
108	provided in this subsection.
109	b. By general law and subject to conditions specified
110	therein, the Legislature shall provide for application of this
111	paragraph to property owned by more than one person.
112	(e) The legislature may, by general law, for assessment
113	purposes and subject to the provisions of this subsection, allow
114	counties and municipalities to authorize by ordinance that
115	historic property may be assessed solely on the basis of
116	character or use. Such character or use assessment shall apply
117	only to the jurisdiction adopting the ordinance. The
118	requirements for eligible properties must be specified by
119	general law.
120	(f) A county may, in the manner prescribed by general law,
121	provide for a reduction in the assessed value of homestead
122	property to the extent of any increase in the assessed value of
123	that property which results from the construction or
124	reconstruction of the property for the purpose of providing
125	living quarters for one or more natural or adoptive grandparents
126	or parents of the owner of the property or of the owner's spouse
127	if at least one of the grandparents or parents for whom the
128	living quarters are provided is 62 years of age or older. Such a
129	reduction may not exceed the lesser of the following:
130	(1) The increase in assessed value resulting from
131	construction or reconstruction of the property.
132	(2) Twenty percent of the total assessed value of the
133	property as improved.
134	(g) For all levies other than school district levies,
135	assessments of residential real property, as defined by general
136	law, which contains nine units or fewer and which is not subject
137	to the assessment limitations set forth in subsections (a)
138	through (d) shall change only as provided in this subsection.
139	(1) Assessments subject to this subsection shall be
140	changed annually on the date of assessment provided by law; but
141	those changes in assessments shall not exceed ten percent (10%)
142	of the assessment for the prior year.
143	(2) No assessment shall exceed just value.
144	(3) After a change of ownership or control, as defined by
145	general law, including any change of ownership of a legal entity
146	that owns the property, such property shall be assessed at just
147	value as of the next assessment date. Thereafter, such property
148	shall be assessed as provided in this subsection.
149	(4) Changes, additions, reductions, or improvements to
150	such property shall be assessed as provided for by general law;
151	however, after the adjustment for any change, addition,
152	reduction, or improvement, the property shall be assessed as
153	provided in this subsection.
154	(h) For all levies other than school district levies,
155	assessments of real property that is not subject to the
156	assessment limitations set forth in subsections (a) through (d)
157	and (g) shall change only as provided in this subsection.
158	(1) Assessments subject to this subsection shall be
159	changed annually on the date of assessment provided by law; but
160	those changes in assessments shall not exceed ten percent (10%)
161	of the assessment for the prior year.
162	(2) No assessment shall exceed just value.
163	(3) The legislature must provide that such property shall
164	be assessed at just value as of the next assessment date after a
165	qualifying improvement, as defined by general law, is made to
166	such property. Thereafter, such property shall be assessed as
167	provided in this subsection.
168	(4) The legislature may provide that such property shall
169	be assessed at just value as of the next assessment date after a
170	change of ownership or control, as defined by general law,
171	including any change of ownership of the legal entity that owns
172	the property. Thereafter, such property shall be assessed as
173	provided in this subsection.
174	(5) Changes, additions, reductions, or improvements to
175	such property shall be assessed as provided for by general law;
176	however, after the adjustment for any change, addition,
177	reduction, or improvement, the property shall be assessed as
178	provided in this subsection.
179	(i) The legislature, by general law and subject to
180	conditions specified therein, may prohibit the consideration of
181	the following in the determination of the assessed value of real
182	property used for residential purposes:
183	(1) Any change or improvement made for the purpose of
184	improving the property's resistance to wind damage.
185	(2) The installation of a renewable energy source device.
186	(j)(1) The assessment of the following working waterfront
187	properties shall be based upon the current use of the property:
188	a. Land used predominantly for commercial fishing
189	purposes.
190	b. Land that is accessible to the public and used for
191	vessel launches into waters that are navigable.
192	c. Marinas and drystacks that are open to the public.
193	d. Water-dependent marine manufacturing facilities,
194	commercial fishing facilities, and marine vessel construction
195	and repair facilities and their support activities.
196	(2) The assessment benefit provided by this subsection is
197	subject to conditions and limitations and reasonable definitions
198	as specified by the legislature by general law.
199	BE IT FURTHER RESOLVED that the following statement be
200	placed on the ballot:
201	CONSTITUTIONAL AMENDMENT
202	ARTICLE VII, SECTION 4
203	INHERITING HOMESTEAD PROPERTY.-Proposing an amendment to
204	the State Constitution to allow the cap on homestead property
205	assessments and the transfer of that cap to a new homestead to
206	inure to the spouse, child, or grandchild of the property owner
207	who inherits the property if the property becomes the homestead
208	of the inheritor.

CODING: Words stricken are deletions; words underlined are additions.