| 1 | A bill to be entitled |
| 2 | An act relating to the assessment of obsolete agricultural |
| 3 | equipment for purposes of ad valorem taxation; providing |
| 4 | for obsolete agricultural equipment to be assessed at its |
| 5 | value as salvage; defining the term "agricultural |
| 6 | equipment"; providing a procedure for a taxpayer to claim |
| 7 | the right of assessment under this section; authorizing |
| 8 | the property appraiser to require information establishing |
| 9 | a taxpayer's right to the classification; providing an |
| 10 | 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. Assessment of obsolete agricultural |
| 15 | equipment.-- |
| 16 | (1) For purposes of assessment for ad valorem property |
| 17 | taxes, obsolete farm equipment shall be deemed to have a market |
| 18 | value no greater than its market value for salvage. As used in |
| 19 | this section, the term "agricultural equipment" means any |
| 20 | equipment that qualifies for the sales tax exemption provided in |
| 21 | s. 212.08(3), Florida Statutes. Agricultural equipment shall be |
| 22 | considered obsolete for purposes of this section if it is no |
| 23 | longer commonly used by the taxpayer. |
| 24 | (2) Any taxpayer claiming the right of assessment for ad |
| 25 | valorem taxes under the provisions of this section shall so |
| 26 | state in a return filed as provided by law, giving a brief |
| 27 | description of the equipment and its use. The property appraiser |
| 28 | may require the taxpayer to produce any additional information |
| 29 | as necessary in order to establish the taxpayer's right to have |
| 30 | such property classified as obsolete under this section for |
| 31 | purposes of the assessment. |
| 32 | Section 2. This act shall take effect January 1, 2007. |