CODING: Words stricken are deletions; words underlined are additions.House Bill 1653
Florida House of Representatives - 1997 HB 1653
By Representative Arnall
1 A bill to be entitled
2 An act relating to ad valorem tax
3 administration; amending s. 193.011, F.S.,
4 which specifies the factors to be considered by
5 the property appraiser in arriving at just
6 valuation of property; providing for
7 consideration of deed restrictions imposed by
8 federal or state law in determining use of
9 property; providing elements to be considered
10 in the assessment of affordable housing
11 programs; providing an effective date.
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13 Be It Enacted by the Legislature of the State of Florida:
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15 Section 1. Section 193.011, Florida Statutes, is
16 amended to read:
17 193.011 Factors to consider in deriving just
18 valuation.--In arriving at just valuation as required under s.
19 4, Art. VII of the State Constitution, the property appraiser
20 shall take into consideration the following factors:
21 (1) The present cash value of the property, which is
22 the amount a willing purchaser would pay a willing seller,
23 exclusive of reasonable fees and costs of purchase, in cash or
24 the immediate equivalent thereof in a transaction at arm's
25 length.;
26 (2) The highest and best use to which the property can
27 be expected to be put in the immediate future and the present
28 use of the property, taking into consideration any applicable
29 judicial limitation or local or state land use regulation or
30 deed restriction imposed by federal or state law and
31 considering any moratorium imposed by executive order, law,
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CODING: Words stricken are deletions; words underlined are additions.
Florida House of Representatives - 1997 HB 1653
54-332-97
1 ordinance, regulation, resolution, or proclamation adopted by
2 any governmental body or agency or the Governor when the
3 moratorium or judicial limitation prohibits or restricts the
4 development or improvement of property as otherwise authorized
5 by applicable law. The applicable governmental body or agency
6 or the Governor shall notify the property appraiser in writing
7 of any executive order, ordinance, regulation, resolution, or
8 proclamation it adopts imposing any such limitation,
9 regulation, or moratorium.;
10 (3) The location of said property.;
11 (4) The quantity or size of said property.;
12 (5) The cost of said property and the present
13 replacement value of any improvements thereon.;
14 (6) The condition of said property.;
15 (7) The income from said property.; and
16 (8) The net proceeds of the sale of the property, as
17 received by the seller, after deduction of all of the usual
18 and reasonable fees and costs of the sale, including the costs
19 and expenses of financing, and allowance for unconventional or
20 atypical terms of financing arrangements. When the net
21 proceeds of the sale of any property are utilized, directly or
22 indirectly, in the determination of just valuation of realty
23 of the sold parcel or any other parcel under the provisions of
24 this section, the property appraiser, for the purposes of such
25 determination, shall exclude any portion of such net proceeds
26 attributable to payments for household furnishings or other
27 items of personal property.
28 (9) In considering ad valorem assessment of affordable
29 housing programs, neither the tax credits, nor the value of
30 the equity generated by tax credits, allocated to or invested
31 in low-income housing tax credit developments shall be
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CODING: Words stricken are deletions; words underlined are additions.
Florida House of Representatives - 1997 HB 1653
54-332-97
1 considered as income to the property, and the rental income
2 from rent-restricted units in a low-income tax credit
3 development shall be valued giving due consideration to all
4 limitations imposed by federal, state, and local law or any
5 other limitation running with the land.
6 Section 2. This act shall take effect January 1, 1998.
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9 HOUSE SUMMARY
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Revises provisions which specify the factors to be
11 considered by the property appraiser in arriving at just
valuation of property. Provides for consideration of deed
12 restrictions imposed by federal or state law in
determining use of property. Provides elements to be
13 considered in the assessment of affordable housing
programs.
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