Senate Bill sb0832c1

    Florida Senate - 2005                            CS for SB 832

    By the Committee on Agriculture; and Senators Smith and
    Haridopolos




    575-1639-05

  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 agricultural equipment shall be deemed to have

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

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

22  equipment that qualifies for the sales tax exemption provided

23  in section 212.08(3), Florida Statutes, wherever purchased.

24  Agricultural equipment shall be considered obsolete for

25  purposes of this section if it is no longer commonly used by

26  the taxpayer in agricultural production.

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

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

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

30  description of the equipment and its use. The property

31  appraiser may require the taxpayer to produce any additional

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






    Florida Senate - 2005                            CS for SB 832
    575-1639-05




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

 2  right to have such property classified as obsolete under this

 3  section for purposes of the assessment.

 4         Section 2.  This act shall take effect upon becoming a

 5  law.

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 7          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
 8                              SB 832

 9                                 

10  Clarifies that the obsolete equipment must be agricultural
    equipment used in agricultural production.  Provides that the
11  proposed assessment process will apply to agricultural
    equipment, regardless of where it was purchased.
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    Changes the effective date from January 1, 2005 to "upon
13  becoming a law."

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