Bill Text: FL S0654 | 2024 | Regular Session | Introduced


Bill Title: Assessments of Homestead Property

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2024-03-08 - Died in Community Affairs [S0654 Detail]

Download: Florida-2024-S0654-Introduced.html
       Florida Senate - 2024                                    SJR 654
       
       
        
       By Senator Garcia
       
       
       
       
       
       36-00998-24                                            2024654__
    1                       Senate Joint Resolution                     
    2         A joint resolution proposing an amendment to Section 4
    3         of Article VII and the creation of a new section in
    4         Article XII of the State Constitution to revise the
    5         manner for assessing property that receives a
    6         homestead exemption and to provide an effective date.
    7          
    8  Be It Resolved by the Legislature of the State of Florida:
    9  
   10         That the following amendment to Section 4 of Article VII
   11  and the creation of a new section in Article XII of the State
   12  Constitution are agreed to and shall be submitted to the
   13  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.—
   19         By general law regulations shall be prescribed which shall
   20  secure a just valuation of all property for ad valorem taxation,
   21  provided:
   22         (a) Agricultural land, land producing high water recharge
   23  to Florida’s aquifers, or land used exclusively for
   24  noncommercial recreational purposes may be classified by general
   25  law and assessed solely on the basis of character or use.
   26         (b) As provided by general law and subject to conditions,
   27  limitations, and reasonable definitions specified therein, land
   28  used for conservation purposes shall be classified by general
   29  law and assessed solely on the basis of character or use.
   30         (c) Pursuant to general law tangible personal property held
   31  for sale as stock in trade and livestock may be valued for
   32  taxation at a specified percentage of its value, may be
   33  classified for tax purposes, or may be exempted from taxation.
   34         (d) All persons entitled to a homestead exemption under
   35  Section 6 of this Article shall have their homestead assessed at
   36  just value as of January 1 of the year following the effective
   37  date of this amendment. This assessment shall change only as
   38  provided in this subsection.
   39         (1) Assessments subject to this subsection shall be changed
   40  annually on January 1st of each year; but those changes in
   41  assessments shall not exceed the lower of the following:
   42         a. Three percent (3%) of the assessment for the prior 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  paragraph (8) apply. Thereafter, the homestead shall be assessed
   53  as provided in this subsection.
   54         (4) New homestead property shall be assessed under the
   55  provisions of paragraphs (g)(4) and (h)(4) at just value as of
   56  January 1st of the year following the establishment of the
   57  homestead, unless the provisions of paragraph (8) apply. That
   58  assessment shall only change as 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 amendment are severable. If any
   67  of the provisions of this amendment shall be held
   68  unconstitutional by any court of competent jurisdiction, the
   69  decision of such court shall not affect or impair any remaining
   70  provisions of this amendment.
   71         (8)a. A person who establishes a new homestead as of
   72  January 1 and who has received a homestead exemption pursuant to
   73  Section 6 of this Article as of January 1 of any of the three
   74  years immediately preceding the establishment of the new
   75  homestead is entitled to have the new homestead assessed at less
   76  than just value. The assessed value of the newly established
   77  homestead shall be determined as follows:
   78         1. If the just value of the new homestead is greater than
   79  or equal to the just value of the prior homestead as of January
   80  1 of the year in which the prior homestead was abandoned, the
   81  assessed value of the new homestead shall be the just value of
   82  the new homestead minus an amount equal to the lesser of
   83  $500,000 or the difference between the just value and the
   84  assessed value of the prior homestead as of January 1 of the
   85  year in which the prior homestead was abandoned. Thereafter, the
   86  homestead shall be assessed as provided in this subsection.
   87         2. If the just value of the new homestead is less than the
   88  just value of the prior homestead as of January 1 of the year in
   89  which the prior homestead was abandoned, the assessed value of
   90  the new homestead shall be equal to the just value of the new
   91  homestead divided by the just value of the prior homestead and
   92  multiplied by the assessed value of the prior homestead.
   93  However, if the difference between the just value of the new
   94  homestead and the assessed value of the new homestead calculated
   95  pursuant to this sub-subparagraph is greater than $500,000, the
   96  assessed value of the new homestead shall be increased so that
   97  the difference between the just value and the assessed value
   98  equals $500,000. Thereafter, the homestead shall be assessed as
   99  provided in this subsection.
  100         b. By general law and subject to conditions specified
  101  therein, the legislature shall provide for application of this
  102  paragraph to property owned by more than one person.
  103         (e) The legislature may, by general law, for assessment
  104  purposes and subject to the provisions of this subsection, allow
  105  counties and municipalities to authorize by ordinance that
  106  historic property may be assessed solely on the basis of
  107  character or use. Such character or use assessment shall apply
  108  only to the jurisdiction adopting the ordinance. The
  109  requirements for eligible properties must be specified by
  110  general law.
  111         (f) A county may, in the manner prescribed by general law,
  112  provide for a reduction in the assessed value of homestead
  113  property to the extent of any increase in the assessed value of
  114  that property which results from the construction or
  115  reconstruction of the property for the purpose of providing
  116  living quarters for one or more natural or adoptive grandparents
  117  or parents of the owner of the property or of the owner’s spouse
  118  if at least one of the grandparents or parents for whom the
  119  living quarters are provided is 62 years of age or older. Such a
  120  reduction may not exceed the lesser of the following:
  121         (1) The increase in assessed value resulting from
  122  construction or reconstruction of the property.
  123         (2) Twenty percent of the total assessed value of the
  124  property as improved.
  125         (g) For all levies other than school district levies,
  126  assessments of residential real property, as defined by general
  127  law, which contains nine units or fewer and which is not subject
  128  to the assessment limitations set forth in subsections (a)
  129  through (d) shall change only as provided in this subsection.
  130         (1) Assessments subject to this subsection shall be changed
  131  annually on the date of assessment provided by law; but those
  132  changes in assessments shall not exceed ten percent (10%) of the
  133  assessment for the prior year.
  134         (2) No assessment shall exceed just value.
  135         (3) After a change of ownership or control, as defined by
  136  general law, including any change of ownership of a legal entity
  137  that owns the property, such property shall be assessed at just
  138  value as of the next assessment date. Thereafter, such property
  139  shall be assessed as provided in this subsection.
  140         (4) Changes, additions, reductions, or improvements to such
  141  property shall be assessed as provided for by general law;
  142  however, after the adjustment for any change, addition,
  143  reduction, or improvement, the property shall be assessed as
  144  provided in this subsection.
  145         (h) For all levies other than school district levies,
  146  assessments of real property that is not subject to the
  147  assessment limitations set forth in subsections (a) through (d)
  148  and (g) shall change only as provided in this subsection.
  149         (1) Assessments subject to this subsection shall be changed
  150  annually on the date of assessment provided by law; but those
  151  changes in assessments shall not exceed ten percent (10%) of the
  152  assessment for the prior year.
  153         (2) No assessment shall exceed just value.
  154         (3) The legislature must provide that such property shall
  155  be assessed at just value as of the next assessment date after a
  156  qualifying improvement, as defined by general law, is made to
  157  such property. Thereafter, such property shall be assessed as
  158  provided in this subsection.
  159         (4) The legislature may provide that such property shall be
  160  assessed at just value as of the next assessment date after a
  161  change of ownership or control, as defined by general law,
  162  including any change of ownership of the legal entity that owns
  163  the property. Thereafter, such property shall be assessed as
  164  provided in this subsection.
  165         (5) Changes, additions, reductions, or improvements to such
  166  property shall be assessed as provided for by general law;
  167  however, after the adjustment for any change, addition,
  168  reduction, or improvement, the property shall be assessed as
  169  provided in this subsection.
  170         (i) The legislature, by general law and subject to
  171  conditions specified therein, may prohibit the consideration of
  172  the following in the determination of the assessed value of real
  173  property:
  174         (1) Any change or improvement to real property used for
  175  residential purposes made to improve the property’s resistance
  176  to wind damage.
  177         (2) The installation of a solar or renewable energy source
  178  device.
  179         (j)
  180         (1) The assessment of the following working waterfront
  181  properties shall be based upon the current use of the property:
  182         a. Land used predominantly for commercial fishing purposes.
  183         b. Land that is accessible to the public and used for
  184  vessel launches into waters that are navigable.
  185         c. Marinas and drystacks that are open to the public.
  186         d. Water-dependent marine manufacturing facilities,
  187  commercial fishing facilities, and marine vessel construction
  188  and repair facilities and their support activities.
  189         (2) The assessment benefit provided by this subsection is
  190  subject to conditions and limitations and reasonable definitions
  191  as specified by the legislature by general law.
  192                             ARTICLE XII                           
  193                              SCHEDULE                             
  194         Assessments of homestead property.—The amendment to Section
  195  4 of Article VII to revise the method for assessing property
  196  that receives a homestead exemption shall take effect January 1,
  197  2025.
  198         BE IT FURTHER RESOLVED that the following statement be
  199  placed on the ballot:
  200                      CONSTITUTIONAL AMENDMENT                     
  201                       ARTICLE VII, SECTION 4                      
  202                             ARTICLE XII                           
  203         REVISION IN ASSESSMENT OF HOMESTEAD PROPERTY.—Proposing an
  204  amendment to the State Constitution to revise the manner for
  205  assessing homestead property. Under the amendment, new homestead
  206  property would be assessed in the same manner that residential
  207  real property and real property are assessed. This amendment
  208  takes effect January 1, 2025.

feedback