Senate Bill sb0832

    Florida Senate - 2005                                   SB 832

    By Senators Smith and Haridopolos





    14-433A-05

  1                      A bill to be entitled

  2         An act relating to the assessment of obsolete

  3         agricultural equipment for purposes of ad

  4         valorem taxation; providing for obsolete

  5         agricultural equipment to be assessed at its

  6         value as salvage; defining the term

  7         "agricultural equipment"; providing a procedure

  8         for a taxpayer to claim the right of assessment

  9         under this section; authorizing the property

10         appraiser to require information establishing a

11         taxpayer's right to the classification;

12         providing an effective date.

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

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16         Section 1.  Assessment of obsolete agricultural

17  equipment.--

18         (1)  For purposes of assessment for ad valorem property

19  taxes, obsolete farm equipment shall be deemed to have a

20  market value no greater than its market value for salvage. As

21  used in this section, the term "agricultural equipment" means

22  any equipment that qualifies for the sales tax exemption

23  provided in section 212.08(3), Florida Statutes. Agricultural

24  equipment shall be considered obsolete for purposes of this

25  section if it is no longer commonly used by the taxpayer.

26         (2)  Any taxpayer claiming the right of assessment for

27  ad valorem taxes under the provisions of this section shall so

28  state in a return filed as provided by law, giving a brief

29  description of the equipment and its use. The property

30  appraiser may require the taxpayer to produce any additional

31  information as necessary in order to establish the taxpayer's

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    Florida Senate - 2005                                   SB 832
    14-433A-05




 1  right to have such property classified as obsolete under this

 2  section for purposes of the assessment.

 3         Section 2.  This act shall take effect January 1, 2005.

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 6                          SENATE SUMMARY

 7    Provides for obsolete agricultural equipment to be
      assessed for purposes of ad valorem taxation at its value
 8    as salvage. Authorizes the property appraiser to require
      information establishing a taxpayer's right to the
 9    classification.

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