Bill Text: FL S2650 | 2010 | Regular Session | Introduced

---

Bill Title: Homestead Property Assessed Value [WPSC]

Spectrum: Partisan Bill (Republican 2-0)

Status: (Failed) 2010-04-30 - Died in Committee on Community Affairs [S2650 Detail]

Download: Florida-2010-S2650-Introduced.html

---

 
Florida Senate - 2010                                   SJR 2650 
 
By Senator Gardiner 
9-01626-10                                            20102650__ 
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 prohibit 
5         increases in the assessed value of homestead property 
6         if the market value of the property decreases. 
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.—By general law 
19  regulations shall be prescribed which shall secure a just 
20  valuation of all property for ad valorem taxation, provided: 
21         (a) Agricultural land, land producing high water recharge 
22  to Florida’s aquifers, or land used exclusively for 
23  noncommercial recreational purposes may be classified by general 
24  law and assessed solely on the basis of character or use. 
25         (b) As provided by general law and subject to conditions, 
26  limitations, and reasonable definitions specified therein, land 
27  used for conservation purposes shall be classified by general 
28  law and assessed solely on the basis of character or use. 
29         (c) Pursuant to general law tangible personal property held 
30  for sale as stock in trade and livestock may be valued for 
31  taxation at a specified percentage of its value, may be 
32  classified for tax purposes, or may be exempted from taxation. 
33         (d) All persons entitled to a homestead exemption under 
34  Section 6 of this Article shall have their homestead assessed at 
35  just value as of January 1 of the year following the effective 
36  date of this amendment. This assessment shall change only as 
37  provided in this subsection. 
38         (1) Assessments subject to this subsection shall change be 
39  changed annually on January 1 1st of each year.; but those 
40  changes in assessments 
41         a. An increase in an assessment may shall not exceed the 
42  lower of the following: 
43         1.a. Three percent (3%) of the assessment for the prior 
44  year. 
45         2.b. The percent change in the Consumer Price Index for all 
46  urban consumers, U.S. City Average, all items 1967=100, or a 
47  successor index reports for the preceding calendar year as 
48  initially reported by the United States Department of Labor, 
49  Bureau of Labor Statistics. 
50         b. An assessment may not increase if the just value of the 
51  property is less than the just value of the property on the 
52  preceding January 1. 
53         (2) An No assessment may not shall exceed just value. 
54         (3) After a any change of ownership, as provided by general 
55  law, homestead property shall be assessed at just value as of 
56  January 1 of the following year, unless the provisions of 
57  paragraph (8) apply. Thereafter, the homestead shall be assessed 
58  as provided in this subsection. 
59         (4) New homestead property shall be assessed at just value 
60  as of January 1 1st of the year following the establishment of 
61  the homestead, unless the provisions of paragraph (8) apply. 
62  That assessment shall only change only as provided in this 
63  subsection. 
64         (5) Changes, additions, reductions, or improvements to 
65  homestead property shall be assessed as provided for by general 
66  law.; provided, However, after the adjustment for any change, 
67  addition, reduction, or improvement, the property shall be 
68  assessed as provided in this subsection. 
69         (6) In the event of a termination of homestead status, the 
70  property shall be assessed as provided by general law. 
71         (7) The provisions of this subsection amendment are 
72  severable. If a provision any of the provisions of this 
73  amendment is shall be held unconstitutional by a any court of 
74  competent jurisdiction, the decision of the such court does 
75  shall not affect or impair any remaining provisions of this 
76  subsection amendment. 
77         (8)a. A person who establishes a new homestead as of 
78  January 1, 2009, or January 1 of any subsequent year and who has 
79  received a homestead exemption pursuant to Section 6 of this 
80  Article as of January 1 of either of the two years immediately 
81  preceding the establishment of a the new homestead is entitled 
82  to have the new homestead assessed at less than just value. If 
83  this revision is approved in January of 2008, a person who 
84  establishes a new homestead as of January 1, 2008, is entitled 
85  to have the new homestead assessed at less than just value only 
86  if that person received a homestead exemption on January 1, 
87  2007. The assessed value of the newly established homestead 
88  shall be determined as follows: 
89         1. If the just value of the new homestead is greater than 
90  or equal to the just value of the prior homestead as of January 
91  1 of the year in which the prior homestead was abandoned, the 
92  assessed value of the new homestead shall be the just value of 
93  the new homestead minus an amount equal to the lesser of 
94  $500,000 or the difference between the just value and the 
95  assessed value of the prior homestead as of January 1 of the 
96  year in which the prior homestead was abandoned. Thereafter, the 
97  homestead shall be assessed as provided in this subsection. 
98         2. If the just value of the new homestead is less than the 
99  just value of the prior homestead as of January 1 of the year in 
100  which the prior homestead was abandoned, the assessed value of 
101  the new homestead shall be equal to the just value of the new 
102  homestead divided by the just value of the prior homestead and 
103  multiplied by the assessed value of the prior homestead. 
104  However, if the difference between the just value of the new 
105  homestead and the assessed value of the new homestead calculated 
106  pursuant to this sub-subparagraph is greater than $500,000, the 
107  assessed value of the new homestead shall be increased so that 
108  the difference between the just value and the assessed value 
109  equals $500,000. Thereafter, the homestead shall be assessed as 
110  provided in this subsection. 
111         b. By general law and subject to conditions specified 
112  therein, the Legislature shall provide for application of this 
113  paragraph to property owned by more than one person. 
114         (e) The legislature may, by general law, for assessment 
115  purposes and subject to the provisions of this subsection, allow 
116  counties and municipalities to authorize by ordinance that 
117  historic property may be assessed solely on the basis of 
118  character or use. Such character or use assessment shall apply 
119  only to the jurisdiction adopting the ordinance. The 
120  requirements for eligible properties must be specified by 
121  general law. 
122         (f) A county may, in the manner prescribed by general law, 
123  provide for a reduction in the assessed value of homestead 
124  property to the extent of any increase in the assessed value of 
125  that property which results from the construction or 
126  reconstruction of the property for the purpose of providing 
127  living quarters for one or more natural or adoptive grandparents 
128  or parents of the owner of the property or of the owner’s spouse 
129  if at least one of the grandparents or parents for whom the 
130  living quarters are provided is 62 years of age or older. Such a 
131  reduction may not exceed the lesser of the following: 
132         (1) The increase in assessed value resulting from 
133  construction or reconstruction of the property. 
134         (2) Twenty percent of the total assessed value of the 
135  property as improved. 
136         (g) For all levies other than school district levies, 
137  assessments of residential real property, as defined by general 
138  law, which contains nine units or fewer and which is not subject 
139  to the assessment limitations set forth in subsections (a) 
140  through (d) shall change only as provided in this subsection. 
141         (1) Assessments subject to this subsection shall be changed 
142  annually on the date of assessment provided by law. However,; 
143  but those changes in assessments may shall not exceed ten 
144  percent (10%) of the assessment for the prior year. 
145         (2) An No assessment may not shall exceed just value. 
146         (3) After a change of ownership or control, as defined by 
147  general law, including any change of ownership of a legal entity 
148  that owns the property, such property shall be assessed at just 
149  value as of the next assessment date. Thereafter, such property 
150  shall be assessed as provided in this subsection. 
151         (4) Changes, additions, reductions, or improvements to such 
152  property shall be assessed as provided for by general law.; 
153  However, after the adjustment for any change, addition, 
154  reduction, or improvement, the property shall be assessed as 
155  provided in this subsection. 
156         (h) For all levies other than school district levies, 
157  assessments of real property that is not subject to the 
158  assessment limitations set forth in subsections (a) through (d) 
159  and (g) shall change only as provided in this subsection. 
160         (1) Assessments subject to this subsection shall be changed 
161  annually on the date of assessment provided by law. However; but 
162  those changes in assessments may shall not exceed ten percent 
163  (10%) of the assessment for the prior year. 
164         (2) An No assessment may not shall exceed just value. 
165         (3) The legislature must provide that such property shall 
166  be assessed at just value as of the next assessment date after a 
167  qualifying improvement, as defined by general law, is made to 
168  such property. Thereafter, such property shall be assessed as 
169  provided in this subsection. 
170         (4) The legislature may provide that such property shall be 
171  assessed at just value as of the next assessment date after a 
172  change of ownership or control, as defined by general law, 
173  including any change of ownership of the legal entity that owns 
174  the property. Thereafter, such property shall be assessed as 
175  provided in this subsection. 
176         (5) Changes, additions, reductions, or improvements to such 
177  property shall be assessed as provided for by general law.; 
178  However, after the adjustment for any change, addition, 
179  reduction, or improvement, the property shall be assessed as 
180  provided in this subsection. 
181         (i) The legislature, by general law and subject to 
182  conditions specified therein, may prohibit the consideration of 
183  the following in the determination of the assessed value of real 
184  property used for residential purposes: 
185         (1) Any change or improvement made for the purpose of 
186  improving the property’s resistance to wind damage. 
187         (2) The installation of a renewable energy source device. 
188         (j)(1) The assessment of the following working waterfront 
189  properties shall be based upon the current use of the property: 
190         a. Land used predominantly for commercial fishing purposes. 
191         b. Land that is accessible to the public and used for 
192  vessel launches into waters that are navigable. 
193         c. Marinas and drystacks that are open to the public. 
194         d. Water-dependent marine manufacturing facilities, 
195  commercial fishing facilities, and marine vessel construction 
196  and repair facilities and their support activities. 
197         (2) The assessment benefit provided by this subsection is 
198  subject to conditions and limitations and reasonable definitions 
199  as specified by the legislature by general law. 
200                             ARTICLE XII 
201                              SCHEDULE 
202         Assessment of homestead property that has declining market 
203  value.—The amendment to Section 4 of Article VII, relating to 
204  homestead property having a declining market value, and this 
205  section shall take effect January 1, 2011. 
206         BE IT FURTHER RESOLVED that the following statement be 
207  placed on the ballot: 
208                      CONSTITUTIONAL AMENDMENT 
209                       ARTICLE VII, SECTION 4 
210                             ARTICLE XII 
211         ASSESSMENT OF HOMESTEAD PROPERTY THAT HAS A DECLINING 
212  MARKET VALUE.—In certain circumstances, current law requires an 
213  increase in the assessed value of homestead property even if the 
214  market value of the property decreases. Under this proposed 
215  amendment to the State Constitution, the assessed value of 
216  homestead property would not increase if the market value of 
217  that property decreases.