Bill Text: FL S1374 | 2024 | Regular Session | Introduced


Bill Title: Homestead Property Assessment

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2024-03-08 - Died in Community Affairs [S1374 Detail]

Download: Florida-2024-S1374-Introduced.html
       Florida Senate - 2024                                   SJR 1374
       
       
        
       By Senator Wright
       
       
       
       
       
       8-01037-24                                            20241374__
    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 allow newly
    5         established homestead property to be assessed at less
    6         than just value if the property was previously
    7         assessed as nonhomestead property and has not changed
    8         ownership, and to provide an effective date.
    9          
   10  Be It Resolved by the Legislature of the State of Florida:
   11  
   12         That the following amendment to Section 4 of Article VII
   13  and the creation of a new section in Article XII of the State
   14  Constitution are agreed to and shall be submitted to the
   15  electors of this state for approval or rejection at the next
   16  general election or at an earlier special election specifically
   17  authorized by law for that purpose:
   18                             ARTICLE VII                           
   19                        FINANCE AND TAXATION                       
   20         SECTION 4. Taxation; assessments.—By general law
   21  regulations shall be prescribed which shall secure a just
   22  valuation of all property for ad valorem taxation, provided:
   23         (a) Agricultural land, land producing high water recharge
   24  to Florida’s aquifers, or land used exclusively for
   25  noncommercial recreational purposes may be classified by general
   26  law and assessed solely on the basis of character or use.
   27         (b) As provided by general law and subject to conditions,
   28  limitations, and reasonable definitions specified therein, land
   29  used for conservation purposes shall be classified by general
   30  law and assessed solely on the basis of character or use.
   31         (c) Pursuant to general law tangible personal property held
   32  for sale as stock in trade and livestock may be valued for
   33  taxation at a specified percentage of its value, may be
   34  classified for tax purposes, or may be exempted from taxation.
   35         (d) All persons entitled to a homestead exemption under
   36  Section 6 of this Article shall have their homestead assessed at
   37  just value as of January 1 of the year following the effective
   38  date of this amendment. This assessment shall change only as
   39  provided in this subsection.
   40         (1) Assessments subject to this subsection shall be changed
   41  annually on January 1st of each year; but those changes in
   42  assessments shall not exceed the lower of the following:
   43         a. Three percent (3%) of the assessment for the prior year.
   44         b. The percent change in the Consumer Price Index for all
   45  urban consumers, U.S. City Average, all items 1967=100, or
   46  successor reports for the preceding calendar year as initially
   47  reported by the United States Department of Labor, Bureau of
   48  Labor Statistics.
   49         (2) No assessment shall exceed just value.
   50         (3) After any change of ownership, as provided by general
   51  law, homestead property shall be assessed at just value as of
   52  January 1 of the following year, unless the provisions of
   53  paragraph (8) apply. Thereafter, the homestead shall be assessed
   54  as provided in this subsection.
   55         (4) New homestead property shall be assessed at just value
   56  as of January 1st of the year following the establishment of the
   57  homestead, unless the provisions of paragraph (8) or paragraph
   58  (9) apply. That assessment shall only change as provided in this
   59  subsection.
   60         (5) Changes, additions, reductions, or improvements to
   61  homestead property shall be assessed as provided for by general
   62  law; provided, however, after the adjustment for any change,
   63  addition, reduction, or improvement, the property shall be
   64  assessed as provided in this subsection.
   65         (6) In the event of a termination of homestead status, the
   66  property shall be assessed as provided by general law.
   67         (7) The provisions of this amendment are severable. If any
   68  of the provisions of this amendment shall be held
   69  unconstitutional by any court of competent jurisdiction, the
   70  decision of such court shall not affect or impair any remaining
   71  provisions of this amendment.
   72         (8)a. A person who establishes a new homestead as of
   73  January 1 and who has received a homestead exemption pursuant to
   74  Section 6 of this Article as of January 1 of any of the three
   75  years immediately preceding the establishment of the new
   76  homestead is entitled to have the new homestead assessed at less
   77  than just value. The assessed value of the newly established
   78  homestead shall be determined as follows:
   79         1. If the just value of the new homestead is greater than
   80  or equal to the just value of the prior homestead as of January
   81  1 of the year in which the prior homestead was abandoned, the
   82  assessed value of the new homestead shall be the just value of
   83  the new homestead minus an amount equal to the lesser of
   84  $500,000 or the difference between the just value and the
   85  assessed value of the prior homestead as of January 1 of the
   86  year in which the prior homestead was abandoned. Thereafter, the
   87  homestead shall be assessed as provided in this subsection.
   88         2. If the just value of the new homestead is less than the
   89  just value of the prior homestead as of January 1 of the year in
   90  which the prior homestead was abandoned, the assessed value of
   91  the new homestead shall be equal to the just value of the new
   92  homestead divided by the just value of the prior homestead and
   93  multiplied by the assessed value of the prior homestead.
   94  However, if the difference between the just value of the new
   95  homestead and the assessed value of the new homestead calculated
   96  pursuant to this sub-subparagraph is greater than $500,000, the
   97  assessed value of the new homestead shall be increased so that
   98  the difference between the just value and the assessed value
   99  equals $500,000. Thereafter, the homestead shall be assessed as
  100  provided in this subsection.
  101         b. By general law and subject to conditions specified
  102  therein, the legislature shall provide for application of this
  103  paragraph to property owned by more than one person.
  104         (9)a.A person who establishes a new homestead as of
  105  January 1 is entitled to have the homestead assessed at less
  106  than just value if:
  107         1.The property being established as a new homestead was
  108  assessed under subsection (g) or subsection (h) the prior
  109  January 1.
  110         2.The owner of the new homestead is the same person who
  111  owned the property when the property was assessed the prior
  112  January 1.
  113         3.There has been no change of ownership between the time
  114  the property was previously assessed and the time the new
  115  homestead is established.
  116         b.The increase in assessed value for a new homestead
  117  established under this paragraph shall not exceed ten percent
  118  (10%) of the assessment for the previous year.
  119         (e) The legislature may, by general law, for assessment
  120  purposes and subject to the provisions of this subsection, allow
  121  counties and municipalities to authorize by ordinance that
  122  historic property may be assessed solely on the basis of
  123  character or use. Such character or use assessment shall apply
  124  only to the jurisdiction adopting the ordinance. The
  125  requirements for eligible properties must be specified by
  126  general law.
  127         (f) A county may, in the manner prescribed by general law,
  128  provide for a reduction in the assessed value of homestead
  129  property to the extent of any increase in the assessed value of
  130  that property which results from the construction or
  131  reconstruction of the property for the purpose of providing
  132  living quarters for one or more natural or adoptive grandparents
  133  or parents of the owner of the property or of the owner’s spouse
  134  if at least one of the grandparents or parents for whom the
  135  living quarters are provided is 62 years of age or older. Such a
  136  reduction may not exceed the lesser of the following:
  137         (1) The increase in assessed value resulting from
  138  construction or reconstruction of the property.
  139         (2) Twenty percent of the total assessed value of the
  140  property as improved.
  141         (g) For all levies other than school district levies,
  142  assessments of residential real property, as defined by general
  143  law, which contains nine units or fewer and which is not subject
  144  to the assessment limitations set forth in subsections (a)
  145  through (d) shall change only as provided in this subsection.
  146         (1) Assessments subject to this subsection shall be changed
  147  annually on the date of assessment provided by law; but those
  148  changes in assessments shall not exceed ten percent (10%) of the
  149  assessment for the prior year.
  150         (2) No assessment shall exceed just value.
  151         (3) After a change of ownership or control, as defined by
  152  general law, including any change of ownership of a legal entity
  153  that owns the property, such property shall be assessed at just
  154  value as of the next assessment date. Thereafter, such property
  155  shall be assessed as provided in this subsection.
  156         (4) Changes, additions, reductions, or improvements to such
  157  property shall be assessed as provided for by general law;
  158  however, after the adjustment for any change, addition,
  159  reduction, or improvement, the property shall be assessed as
  160  provided in this subsection.
  161         (h) For all levies other than school district levies,
  162  assessments of real property that is not subject to the
  163  assessment limitations set forth in subsections (a) through (d)
  164  and (g) shall change only as provided in this subsection.
  165         (1) Assessments subject to this subsection shall be changed
  166  annually on the date of assessment provided by law; but those
  167  changes in assessments shall not exceed ten percent (10%) of the
  168  assessment for the prior year.
  169         (2) No assessment shall exceed just value.
  170         (3) The legislature must provide that such property shall
  171  be assessed at just value as of the next assessment date after a
  172  qualifying improvement, as defined by general law, is made to
  173  such property. Thereafter, such property shall be assessed as
  174  provided in this subsection.
  175         (4) The legislature may provide that such property shall be
  176  assessed at just value as of the next assessment date after a
  177  change of ownership or control, as defined by general law,
  178  including any change of ownership of the legal entity that owns
  179  the property. Thereafter, such property shall be assessed as
  180  provided in this subsection.
  181         (5) Changes, additions, reductions, or improvements to such
  182  property shall be assessed as provided for by general law;
  183  however, after the adjustment for any change, addition,
  184  reduction, or improvement, the property shall be assessed as
  185  provided in this subsection.
  186         (i) The legislature, by general law and subject to
  187  conditions specified therein, may prohibit the consideration of
  188  the following in the determination of the assessed value of real
  189  property:
  190         (1) Any change or improvement to real property used for
  191  residential purposes made to improve the property’s resistance
  192  to wind damage.
  193         (2) The installation of a solar or renewable energy source
  194  device.
  195         (j)(1) The assessment of the following working waterfront
  196  properties shall be based upon the current use of the property:
  197         a. Land used predominantly for commercial fishing purposes.
  198         b. Land that is accessible to the public and used for
  199  vessel launches into waters that are navigable.
  200         c. Marinas and drystacks that are open to the public.
  201         d. Water-dependent marine manufacturing facilities,
  202  commercial fishing facilities, and marine vessel construction
  203  and repair facilities and their support activities.
  204         (2) The assessment benefit provided by this subsection is
  205  subject to conditions and limitations and reasonable definitions
  206  as specified by the legislature by general law.
  207                             ARTICLE XII                           
  208                              SCHEDULE                             
  209         Assessed value of new homestead property that has not
  210  changed ownership.—This section and the amendment to section 6
  211  of Article VII authorizing assessments below just value for
  212  newly established homestead property that has not changed
  213  ownership and has previously been assessed as nonhomestead
  214  property shall take effect January 1, 2025.
  215  
  216         BE IT FURTHER RESOLVED that the following statement be
  217  placed on the ballot:
  218                      CONSTITUTIONAL AMENDMENT                     
  219                       ARTICLE VII, SECTION 6                      
  220                             ARTICLE XII                           
  221         ASSESSED VALUE OF NEW HOMESTEAD PROPERTY THAT HAS NOT
  222  CHANGED OWNERSHIP.—Proposing an amendment to the State
  223  Constitution to authorize that newly established homestead
  224  property be assessed at less than just value if the property was
  225  previously assessed as nonhomestead property and has not changed
  226  ownership. The increase in assessed value for the newly
  227  established homestead property may not exceed 10 percent of the
  228  assessed value for the previous year. The amendment shall take
  229  effect January 1, 2025.

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