| 1 | The Civil Justice Committee recommends the following: |
| 2 |
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| 3 | Council/Committee Substitute |
| 4 | Remove the entire bill and insert: |
| 5 | A bill to be entitled |
| 6 | An act relating to homestead assessments; amending s. |
| 7 | 193.155, F.S.; providing an additional criterion for |
| 8 | determining no change in ownership of homestead property |
| 9 | for homestead assessment purposes; specifying a condition |
| 10 | for a change in ownership; providing an effective date. |
| 11 |
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| 12 | Be It Enacted by the Legislature of the State of Florida: |
| 13 |
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| 14 | Section 1. Paragraph (a) of subsection (3) of section |
| 15 | 193.155, Florida Statutes, is amended to read: |
| 16 | 193.155 Homestead assessments.--Homestead property shall |
| 17 | be assessed at just value as of January 1, 1994. Property |
| 18 | receiving the homestead exemption after January 1, 1994, shall |
| 19 | be assessed at just value as of January 1 of the year in which |
| 20 | the property receives the exemption. |
| 21 | (3) Except as provided in this subsection, property |
| 22 | assessed under this section shall be assessed at just value as |
| 23 | of January 1 of the year following a change of ownership. |
| 24 | Thereafter, the annual changes in the assessed value of the |
| 25 | property are subject to the limitations in subsections (1) and |
| 26 | (2). For the purpose of this section, a change in ownership |
| 27 | means any sale, foreclosure, or transfer of legal title or |
| 28 | beneficial title in equity to any person, except as provided in |
| 29 | this subsection. There is no change of ownership if: |
| 30 | (a) Subsequent to the change or transfer, the same person |
| 31 | is entitled to the homestead exemption as was previously |
| 32 | entitled and: |
| 33 | 1. The transfer of title is to correct an error; or |
| 34 | 2. The transfer is between legal and equitable title; or |
| 35 | 3. The change or transfer is by means of an instrument in |
| 36 | which the owner is listed as both grantor and grantee of the |
| 37 | real property and one or more other individuals are additionally |
| 38 | named as grantee. However, if any individual who is additionally |
| 39 | named as a grantee applies for a homestead exemption on the |
| 40 | property, the application shall be considered a change of |
| 41 | ownership; |
| 42 | Section 2. This act shall take effect July 1, 2006. |