House Bill hb0313

    Florida House of Representatives - 2002                 HB 313

        By Representative Gibson






  1                      A bill to be entitled

  2         An act relating to ad valorem taxation;

  3         creating s. 193.703, F.S.; providing for a

  4         reduction in assessment for constructed or

  5         reconstructed living quarters of parents or

  6         grandparents of property owners or of their

  7         spouses; providing limitations; providing

  8         application procedures; providing penalties for

  9         making a willfully false statement in the

10         application; providing for adjustment of the

11         assessed value of property when the property

12         owner is no longer eligible for the reduction

13         in assessment; providing a contingent effective

14         date.

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16  Be It Enacted by the Legislature of the State of Florida:

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18         Section 1.  Section 193.703, Florida Statutes, is

19  created to read:

20         193.703  Reduction in assessment for living quarters of

21  parents or grandparents.--

22         (1)  In accordance with s. 4(3), Art. VII of the State

23  Constitution, a county may provide for a reduction in the

24  assessed value of homestead property which results from the

25  construction or reconstruction of the property for the purpose

26  of providing living quarters for one or more natural or

27  adopted parents or grandparents of the owner of the property

28  or of the owner's spouse if at least one of the parents or

29  grandparents for whom the living quarters are provided is at

30  least 62 years of age.

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    Florida House of Representatives - 2002                 HB 313

    764-103A-02






  1         (2)  A reduction may be granted under subsection (1)

  2  only to the owner of homestead property where the construction

  3  or reconstruction is consistent with local land-development

  4  regulations.

  5         (3)  A reduction in assessment which is granted under

  6  this section applies only to construction or reconstruction to

  7  an existing homestead which occurred after the effective date

  8  of this section and applies only during taxable years during

  9  which at least one such parent or grandparent maintains his or

10  her primary place of residence in such living quarters within

11  the homestead property of the owner.

12         (4)  Such a reduction in assessment may be granted only

13  upon an application filed annually with the county property

14  appraiser. The application must be made before March 1 of the

15  year for which the reduction is to be granted. If the property

16  appraiser is satisfied that the property is entitled to a

17  reduction in assessment under this section, the property

18  appraiser shall approve the application, and the value of such

19  residential improvements shall be excluded from the value of

20  the property for purposes of ad valorem taxation. The value

21  excluded may not exceed the lesser of the following:

22         (a)  The increase in assessed value resulting from

23  construction or reconstruction of the property; or

24         (b)  Twenty percent of the total assessed value of the

25  property as improved.

26         (5)  If the owner of a residential property for which

27  such a reduction in assessed value has been granted is found

28  to have made any willfully false statement in the application

29  for the reduction, the reduction shall be revoked, the owner

30  is subject to a civil penalty of not more than $1,000, and the

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    Florida House of Representatives - 2002                 HB 313

    764-103A-02






  1  owner shall be disqualified from receiving any such reduction

  2  for a period of 5 years.

  3         (6)  When the property owner no longer qualifies for

  4  the reduction in assessed value for living quarters of parents

  5  or grandparents, the just value of such improvements as of the

  6  first January 1 after the improvements were substantially

  7  completed shall be added back to the assessed value of the

  8  property.

  9         Section 2.  This act shall take effect upon the

10  effective date of an amendment to Section 4 of Article VII of

11  the State Constitution which allows counties to provide for a

12  reduction in assessed value of living quarters constructed for

13  property owners' parents or grandparents.

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16                          SENATE SUMMARY

17    Provides for a reduction in the assessment of homestead
      property for purposes of ad valorem taxation for
18    constructed or reconstructed living quarters of parents
      or grandparents of property owners or of their spouses.
19    Provides limitations. Provides application procedures.
      Provides penalties for making a willfully false statement
20    in the application. Provides for adjusting the assessed
      value of property when the property owner is no longer
21    eligible for the reduction in assessment. Provides a
      contingent effective date.
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CODING: Words stricken are deletions; words underlined are additions.