Senate Bill sb1074
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2006 SB 1074
By Senator Smith
14-773-06
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 s. 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 this section shall so state in a return
29 filed as provided by law, giving a brief description of the
30 equipment and its use. The property appraiser may require the
31 taxpayer to produce any additional information as necessary in
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2006 SB 1074
14-773-06
1 order to establish the taxpayer's right to have such property
2 classified as obsolete under this section for purposes of the
3 assessment.
4 Section 2. This act shall take effect upon becoming a
5 law.
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8 SENATE SUMMARY
9 Provides for obsolete agricultural equipment to be
assessed for purposes of ad valorem taxation at its value
10 as salvage. Authorizes the property appraiser to require
information establishing a taxpayer's right to the
11 classification.
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CODING: Words stricken are deletions; words underlined are additions.