HJR 0417 2004
1	House Joint Resolution
2	A joint resolution proposing an amendment to Section 4 of
3	Article VII of the State Constitution to provide an
4	additional circumstance for assessing homestead property
5	at less than just value.
6
7	Be It Resolved by the Legislature of the State of Florida:
8
9	That the amendment to Section 4 of Article VII of the State
10	Constitution set forth below is agreed to and shall be submitted
11	to the electors of Florida for approval or rejection at the
12	general election to be held in November 2004:
13	ARTICLE VII
14	FINANCE AND TAXATION
15	SECTION 4. Taxation; assessments.--By general law
16	regulations shall be prescribed which shall secure a just
17	valuation of all property for ad valorem taxation, provided:
18	(a) Agricultural land, land producing high water recharge
19	to Florida's aquifers, or land used exclusively for
20	noncommercial recreational purposes may be classified by general
21	law and assessed solely on the basis of character or use.
22	(b) Pursuant to general law tangible personal property
23	held for sale as stock in trade and livestock may be valued for
24	taxation at a specified percentage of its value, may be
25	classified for tax purposes, or may be exempted from taxation.
26	(c) All persons entitled to a homestead exemption under
27	Section 6 of this Article shall have their homestead assessed at
28	just value as of January 1 of the year following the effective
29	date of this amendment. This assessment shall change only as
30	provided herein.
31	(1) Assessments subject to this provision shall be changed
32	annually on January 1st of each year; but those changes in
33	assessments shall not exceed the lower of the following:
34	a. Three percent (3%) of the assessment for the prior
35	year.
36	b. The percent change in the Consumer Price Index for all
37	urban consumers, U.S. City Average, all items 1967=100, or
38	successor reports for the preceding calendar year as initially
39	reported by the United States Department of Labor, Bureau of
40	Labor Statistics.
41	(2) No assessment shall exceed just value.
42	(3) After any change of ownership, as provided by general
43	law, homestead property shall be assessed at just value as of
44	January 1 of the following year, unless the provisions of
45	paragraph (8) apply. Thereafter, the homestead shall be assessed
46	as provided herein.
47	(4) New homestead property shall be assessed at just value
48	as of January 1st of the year following the establishment of the
49	homestead, unless the provisions of paragraph (8) apply. That
50	assessment shall only change as provided herein.
51	(5) Changes, additions, reductions, or improvements to
52	homestead property shall be assessed as provided for by general
53	law; provided, however, after the adjustment for any change,
54	addition, reduction, or improvement, the property shall be
55	assessed as provided herein.
56	(6) In the event of a termination of homestead status, the
57	property shall be assessed as provided by general law.
58	(7) The provisions of this amendment are severable. If any
59	of the provisions of this amendment shall be held
60	unconstitutional by any court of competent jurisdiction, the
61	decision of such court shall not affect or impair any remaining
62	provisions of this amendment.
63	(8) When a person sells his or her homestead property
64	within this state and within one year purchases another property
65	and establishes such property as homestead property, the newly
66	established homestead property shall be initially assessed at
67	less than just value, as provided by general law. The difference
68	between the new homestead property's just value and its assessed
69	value in the first year the homestead is established may not
70	exceed the difference between the previous homestead's just value
71	and its assessed value in the year of sale. In addition, to be
72	assessed as provided in this paragraph, the assessed value of the
73	new homestead must equal or exceed the assessed value of the
74	previous homestead. Thereafter, the homestead shall be assessed
75	as provided herein.
76	(d) The legislature may, by general law, for assessment
77	purposes and subject to the provisions of this subsection, allow
78	counties and municipalities to authorize by ordinance that
79	historic property may be assessed solely on the basis of
80	character or use. Such character or use assessment shall apply
81	only to the jurisdiction adopting the ordinance. The
82	requirements for eligible properties must be specified by
83	general law.
84	(e) A county may, in the manner prescribed by general law,
85	provide for a reduction in the assessed value of homestead
86	property to the extent of any increase in the assessed value of
87	that property which results from the construction or
88	reconstruction of the property for the purpose of providing
89	living quarters for one or more natural or adoptive grandparents
90	or parents of the owner of the property or of the owner's spouse
91	if at least one of the grandparents or parents for whom the
92	living quarters are provided is 62 years of age or older. Such a
93	reduction may not exceed the lesser of the following:
94	(1) The increase in assessed value resulting from
95	construction or reconstruction of the property.
96	(2) Twenty percent of the total assessed value of the
97	property as improved.
98	BE IT FURTHER RESOLVED that the title and substance of the
99	amendment proposed herein shall appear on the ballot as follows:
100	TAXATION; HOMESTEAD PROPERTY ASSESSMENTS
101	Proposes an amendment to Section 4 of Article VII of the
102	State Constitution to provide for assessing at less than just
103	value property purchased within one year after a sale of
104	homestead property and established as new homestead property,
105	limited by the difference between the new homestead property's
106	just value and its assessed value in the first year the
107	homestead is established not exceeding the difference between
108	the previous homestead's just value and its assessed value in
109	the year of sale and the new homestead property's assessed value
110	equaling or exceeding the old homestead property's assessed
111	value.