Senate Bill sb1268

    Florida Senate - 2006                                  SB 1268

    By Senator Margolis





    35-904-06

  1                      A bill to be entitled

  2         An act relating to the deferral of ad valorem

  3         property taxes; amending s. 197.252, F.S.;

  4         decreasing the age and increasing the income

  5         threshold required for eligibility to defer ad

  6         valorem property taxes; providing an effective

  7         date.

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

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11         Section 1.  Paragraph (b) of subsection (2) of section

12  197.252, Florida Statutes, is amended to read:

13         197.252  Homestead tax deferral.--

14         (2)

15         (b)  If In the event the applicant is entitled to claim

16  the increased exemption by reason of age and residency as

17  provided in s. 196.031(3)(a), approval of such application

18  shall defer that portion of such ad valorem taxes plus non-ad

19  valorem assessments which exceeds 3 percent of the applicant's

20  household's income for the prior calendar year.  If any such

21  applicant's household income for the prior calendar year is

22  less than $10,000, or is less than the amount of the household

23  income designated for the additional homestead exemption

24  pursuant to s. 196.075 and the $12,000 if such applicant is 65

25  70 years of age or older, approval of the such application

26  shall defer such ad valorem taxes plus non-ad valorem

27  assessments in their entirety.

28         Section 2.  This act shall take effect July 1, 2006.

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    Florida Senate - 2006                                  SB 1268
    35-904-06




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 2                          SENATE SUMMARY

 3    Decreases the age and increases the income threshold
      required for eligibility to defer ad valorem property
 4    taxes.

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