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)atjust valueas 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.