Bill Text: FL S0120 | 2023 | Regular Session | Comm Sub

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Bill Title: Homestead Assessments

Spectrum: Bipartisan Bill

Status: (Failed) 2023-05-05 - Died in Finance and Tax [S0120 Detail]

Download: Florida-2023-S0120-Comm_Sub.html

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       Florida Senate - 2023                              CS for SB 120
       
       
        
       By the Committee on Community Affairs; and Senator Avila
       
       
       
       
       
       578-02099-23                                           2023120c1
    1                        A bill to be entitled                      
    2         An act relating to homestead assessments; amending s.
    3         193.155, F.S.; revising the limitation on annual
    4         increases of homestead property tax assessments;
    5         providing a contingent effective date.
    6          
    7  Be It Enacted by the Legislature of the State of Florida:
    8  
    9         Section 1. Subsection (1) of section 193.155, Florida
   10  Statutes, is amended to read:
   11         193.155 Homestead assessments.—Homestead property shall be
   12  assessed at just value as of January 1, 1994. Property receiving
   13  the homestead exemption after January 1, 1994, shall be assessed
   14  at just value as of January 1 of the year in which the property
   15  receives the exemption unless the provisions of subsection (8)
   16  apply.
   17         (1) Beginning in 1995, or the year following the year the
   18  property receives homestead exemption, whichever is later, the
   19  property shall be reassessed annually on January 1. Any change
   20  resulting from such reassessment shall not exceed the lower of
   21  the following:
   22         (a) Two Three percent of the assessed value of the property
   23  for the prior year; or
   24         (b) The percentage change in the Consumer Price Index for
   25  All Urban Consumers, U.S. City Average, all items 1967=100, or
   26  successor reports for the preceding calendar year as initially
   27  reported by the United States Department of Labor, Bureau of
   28  Labor Statistics.
   29         Section 2. This act shall take effect on the effective date
   30  of the amendment to the State Constitution proposed by SJR 122
   31  or a similar joint resolution having substantially the same
   32  specific intent and purpose, if such amendment to the State
   33  Constitution is approved at the next general election or at an
   34  earlier special election specifically authorized by law for that
   35  purpose.