Senate Bill sb0012B

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    Florida Senate - 2007                                 SJR 12-B

    By Senator Fasano





    11-2705-07

  1                     Senate Joint Resolution

  2         A joint resolution proposing an amendment to

  3         Section 4 of Article VII of the State

  4         Constitution, relating to limitations on

  5         assessments of residential and commercial

  6         property.

  7  

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

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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 residential and commercial property persons

31  entitled to a homestead exemption under Section 6 of this

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    Florida Senate - 2007                                 SJR 12-B
    11-2705-07




 1  Article shall be have their homestead assessed at just value

 2  as of January 1 of the year following the effective date of

 3  this amendment. This assessment shall change only as provided

 4  herein.

 5         (1)  Assessments subject to this provision shall be

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

 7  changes in assessments shall not exceed the lower of the

 8  following:

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

10  year.

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

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

13  successor reports for the preceding calendar year as initially

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

15  Labor Statistics.

16         (2)  No assessment shall exceed just value.

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

18  general law, residential and commercial homestead property

19  shall be assessed at just value as of January 1 of the

20  following year. Thereafter, the property homestead shall be

21  assessed as provided herein.

22         (4)  New residential and commercial homestead property

23  shall be assessed at just value as of January 1st of the year

24  following the completion of construction establishment of the

25  property homestead. That assessment shall only change as

26  provided herein.

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

28  residential property or commercial homestead property shall be

29  assessed as provided for by general law; provided, however,

30  after the adjustment for any change, addition, reduction, or

31  

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    Florida Senate - 2007                                 SJR 12-B
    11-2705-07




 1  improvement, the property shall be assessed as provided

 2  herein.

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

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

 5         (6)(7)  The provisions of this amendment are severable.

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

 7  unconstitutional by any court of competent jurisdiction, the

 8  decision of such court shall not affect or impair any

 9  remaining provisions of this amendment.

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

11  assessment purposes and subject to the provisions of this

12  subsection, allow counties and municipalities to authorize by

13  ordinance that historic property may be assessed solely on the

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

15  shall apply only to the jurisdiction adopting the ordinance.

16  The requirements for eligible properties must be specified by

17  general law.

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

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

20  homestead property to the extent of any increase in the

21  assessed value of that property which results from the

22  construction or reconstruction of the property for the purpose

23  of providing living quarters for one or more natural or

24  adoptive grandparents or parents of the owner of the property

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

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

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

28  lesser of the following:

29         (1)  The increase in assessed value resulting from

30  construction or reconstruction of the property.

31  

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    Florida Senate - 2007                                 SJR 12-B
    11-2705-07




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

 2  property as improved.

 3         BE IT FURTHER RESOLVED that the following statement be

 4  placed on the ballot:

 5                     CONSTITUTIONAL AMENDMENT

 6                      ARTICLE VII, SECTION 4

 7         LIMITATIONS ON ASSESSMENTS OF RESIDENTIAL AND

 8  COMMERCIAL PROPERTY.--Proposing an amendment to the State

 9  Constitution to apply to all residential and commercial

10  property the limitations on assessments of property at just

11  value currently applicable only to homestead property.

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