Senate Bill sb2270

CODING: Words stricken are deletions; words underlined are additions.
    Florida Senate - 2007                                 SJR 2270

    By Senator Geller





    31-489-07

  1                     Senate Joint Resolution

  2         A joint resolution proposing an amendment to

  3         Section 4 of Article VII of the State

  4         Constitution, to provide an additional

  5         circumstance for assessing homestead property

  6         at less than just value.

  7  

  8  Be It Resolved by the Legislature of the State of Florida:

  9  

10         That the following amendment to Section 4 of Article

11  VII of the State Constitution is agreed to and shall be

12  submitted to the electors of this state for approval or

13  rejection at the next general election or at an earlier

14  special election specifically authorized by law for that

15  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

22  recharge to Florida's aquifers, or land used exclusively for

23  noncommercial recreational purposes may be classified by

24  general law and assessed solely on the basis of character or

25  use.

26         (b)  Pursuant to general law tangible personal property

27  held for sale as stock in trade and livestock may be valued

28  for taxation at a specified percentage of its value, may be

29  classified for tax purposes, or may be exempted from taxation.

30         (c)  All persons entitled to a homestead exemption

31  under Section 6 of this Article shall have their homestead

                                  1

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2007                                 SJR 2270
    31-489-07




 1  assessed at just value as of January 1 of the year following

 2  the effective date of this amendment.  This assessment shall

 3  change only as provided herein.

 4         (1)  Assessments subject to this provision shall be

 5  changed annually on January 1st of each year; but those

 6  changes in assessments shall not exceed the lower of the

 7  following:

 8         a.  Three percent (3%) of the assessment for the prior

 9  year.

10         b.  The percent change in the Consumer Price Index for

11  all urban consumers, U.S. City Average, all items 1967=100, or

12  successor reports for the preceding calendar year as initially

13  reported by the United States Department of Labor, Bureau of

14  Labor Statistics.

15         (2)  No assessment shall exceed just value.

16         (3)  After any change of ownership, as provided by

17  general law, homestead property shall be assessed at just

18  value as of January 1 of the following year unless paragraph

19  (7) applies. Thereafter, the homestead shall be assessed as

20  provided herein.

21         (4)  New homestead property shall be assessed at just

22  value as of January 1st of the year following the

23  establishment of the homestead unless paragraph (7) applies.

24  That assessment shall only change as provided herein.

25         (5)  Changes, additions, reductions, or improvements to

26  homestead property shall be assessed as provided for by

27  general law; provided, however, after the adjustment for any

28  change, addition, reduction, or improvement, the property

29  shall be assessed as provided herein.

30         (6)  In the event of a termination of homestead status,

31  the property shall be assessed as provided by general law.

                                  2

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2007                                 SJR 2270
    31-489-07




 1         (7)  If a person sells homestead property for an amount

 2  that exceeds the purchase price of replacement property on

 3  which that person is entitled to claim a homestead exemption,

 4  the assessed value of the replacement property may not exceed

 5  the assessed value of the former homestead property. In order

 6  to calculate the assessed value of the replacement property

 7  under this paragraph, the claim of homestead exemption for the

 8  replacement property must be made no later than the second

 9  January 1 following the sale of the former property. This

10  paragraph applies regardless of whether the replacement

11  property is located in the same county as the former property.

12         (8)(7)  The provisions of this amendment are severable.

13  If any of the provisions of this amendment shall be held

14  unconstitutional by any court of competent jurisdiction, the

15  decision of such court shall not affect or impair any

16  remaining provisions of this amendment.

17         (d)  The legislature may, by general law, for

18  assessment purposes and subject to the provisions of this

19  subsection, allow counties and municipalities to authorize by

20  ordinance that historic property may be assessed solely on the

21  basis of character or use.  Such character or use assessment

22  shall apply only to the jurisdiction adopting the ordinance.

23  The requirements for eligible properties must be specified by

24  general law.

25         (e)  A county may, in the manner prescribed by general

26  law, provide for a reduction in the assessed value of

27  homestead property to the extent of any increase in the

28  assessed value of that property which results from the

29  construction or reconstruction of the property for the purpose

30  of providing living quarters for one or more natural or

31  adoptive grandparents or parents of the owner of the property

                                  3

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2007                                 SJR 2270
    31-489-07




 1  or of the owner's spouse if at least one of the grandparents

 2  or parents for whom the living quarters are provided is 62

 3  years of age or older. Such a reduction may not exceed the

 4  lesser of the following:

 5         (1)  The increase in assessed value resulting from

 6  construction or reconstruction of the property.

 7         (2)  Twenty percent of the total assessed value of the

 8  property as improved.

 9         BE IT FURTHER RESOLVED that the following statement be

10  placed on the ballot:

11                     CONSTITUTIONAL AMENDMENT

12                      ARTICLE VII, SECTION 4

13         HOMESTEAD PROPERTY ASSESSMENTS.--Proposing an amendment

14  to the State Constitution to provide that replacement

15  homestead property may be assessed at less than just value if

16  the taxpayer's former homestead property is sold for an amount

17  that exceeds the purchase price of replacement homestead

18  property, to require that the claim of homestead exemption for

19  the replacement property be made no later than the second

20  January 1 following the sale of the former homestead property,

21  and to provide for assessing the replacement homestead

22  property at less than just value regardless of whether the

23  replacement property is located in the same county as the

24  former homestead property.

25  

26  

27  

28  

29  

30  

31  

                                  4

CODING: Words stricken are deletions; words underlined are additions.