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.