Senate Bill sb0384

CODING: Words stricken are deletions; words underlined are additions.
    Florida Senate - 2006                                  SJR 384

    By Senator Campbell





    32-116A-06                                         See HJR 239

  1                     Senate Joint Resolution

  2         A joint resolution proposing an amendment to

  3         Section 4 of Article VII of the State

  4         Constitution relating to assessments of

  5         homestead property after changes in ownership.

  6  

  7  Be It Resolved by the Legislature of the State of Florida:

  8  

  9         That the following amendment to Section 4 of Article

10  VII of the State Constitution is agreed to and shall be

11  submitted to the electors of this state for approval or

12  rejection at the next general election or at an earlier

13  special election specifically authorized by law for that

14  purpose:

15                           ARTICLE VII

16                       FINANCE AND TAXATION

17         SECTION 4.  Taxation; assessments.--By general law

18  regulations shall be prescribed which shall secure a just

19  valuation of all property for ad valorem taxation, provided:

20         (a)  Agricultural land, land producing high water

21  recharge to Florida's aquifers, or land used exclusively for

22  noncommercial recreational purposes may be classified by

23  general law and assessed solely on the basis of character or

24  use.

25         (b)  Pursuant to general law tangible personal property

26  held for sale as stock in trade and livestock may be valued

27  for taxation at a specified percentage of its value, may be

28  classified for tax purposes, or may be exempted from taxation.

29         (c)  All persons entitled to a homestead exemption

30  under Section 6 of this Article shall have their homestead

31  assessed at just value as of January 1 of the year following

                                  1

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






    Florida Senate - 2006                                  SJR 384
    32-116A-06                                         See HJR 239




 1  the effective date of this amendment. This assessment shall

 2  change only as provided herein.

 3         (1)  Assessments subject to this provision shall be

 4  changed annually on January 1st of each year; but those

 5  changes in assessments shall not exceed the lower of the

 6  following:

 7         a.  Three percent (3%) of the assessment for the prior

 8  year.

 9         b.  The percent change in the Consumer Price Index for

10  all urban consumers, U.S. City Average, all items 1967=100, or

11  successor reports for the preceding calendar year as initially

12  reported by the United States Department of Labor, Bureau of

13  Labor Statistics.

14         (2)  No assessment shall exceed just value.

15         (3)a.  Except as provided in subparagraph b., after any

16  change of ownership, as provided by general law, homestead

17  property shall be assessed at just value as of January 1 of

18  the following year. Thereafter, the homestead shall be

19  assessed as provided herein.

20         b.  By ordinance of a county, subject to approval by a

21  majority of the electors of the county voting in a referendum

22  on the adoption of such ordinance, the county may authorize

23  the assessment of homestead property at other than just value

24  as follows: When the owner of homestead property sells the

25  property and within one year purchases another property in

26  this state as homestead property, an amount as specified by

27  the ordinance of up to $250,000 of the difference between the

28  assessed value and the market value of the property sold shall

29  be subtracted from the market value of the purchased property

30  for purposes of determining the assessed value of the

31  purchased property. However, the subtraction may not result in

                                  2

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






    Florida Senate - 2006                                  SJR 384
    32-116A-06                                         See HJR 239




 1  an assessed value of the purchased property lower than the

 2  assessed value of such property at the time of purchase if the

 3  property was used as homestead property at the time of

 4  purchase. The $250,000 amount shall be adjusted each year to

 5  reflect the rate of inflation as indicated in the Consumer

 6  Price Index for All Urban Consumers, U.S. City Average,

 7  Housing, or successor reports as reported by the Bureau of

 8  Labor Statistics of the United States Department of Labor, or

 9  its successor.

10         (4)  New homestead property shall be assessed at just

11  value as of January 1st of the year following the

12  establishment of the homestead. That assessment shall only

13  change as provided herein.

14         (5)  Changes, additions, reductions, or improvements to

15  homestead property shall be assessed as provided for by

16  general law; provided, however, after the adjustment for any

17  change, addition, reduction, or improvement, the property

18  shall be assessed as provided herein.

19         (6)  In the event of a termination of homestead status,

20  the property shall be assessed as provided by general law.

21         (7)  The provisions of this amendment are severable. If

22  any of the provisions of this amendment shall be held

23  unconstitutional by any court of competent jurisdiction, the

24  decision of such court shall not affect or impair any

25  remaining provisions of this amendment.

26         (d)  The legislature may, by general law, for

27  assessment purposes and subject to the provisions of this

28  subsection, allow counties and municipalities to authorize by

29  ordinance that historic property may be assessed solely on the

30  basis of character or use. Such character or use assessment

31  shall apply only to the jurisdiction adopting the ordinance.

                                  3

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






    Florida Senate - 2006                                  SJR 384
    32-116A-06                                         See HJR 239




 1  The requirements for eligible properties must be specified by

 2  general law.

 3         (e)  A county may, in the manner prescribed by general

 4  law, provide for a reduction in the assessed value of

 5  homestead property to the extent of any increase in the

 6  assessed value of that property which results from the

 7  construction or reconstruction of the property for the purpose

 8  of providing living quarters for one or more natural or

 9  adoptive grandparents or parents of the owner of the property

10  or of the owner's spouse if at least one of the grandparents

11  or parents for whom the living quarters are provided is 62

12  years of age or older. Such a reduction may not exceed the

13  lesser of the following:

14         (1)  The increase in assessed value resulting from

15  construction or reconstruction of the property.

16         (2)  Twenty percent of the total assessed value of the

17  property as improved.

18         BE IT FURTHER RESOLVED that the following statement be

19  placed on the ballot:

20                     CONSTITUTIONAL AMENDMENT

21                      ARTICLE VII, SECTION 4

22         HOMESTEAD PROPERTY ASSESSMENTS AFTER CHANGES IN

23  OWNERSHIP.--Proposing an amendment to the State Constitution

24  to authorize counties to provide, by ordinance subject to

25  voter approval of the ordinance by referendum, for assessing

26  homestead property at other than just value by requiring, when

27  homestead property is sold and replacement homestead property

28  is purchased within one year, the subtraction of up to

29  $250,000 of the difference between the assessed value and the

30  market value of sold homestead property from the market value

31  of replacement homestead property for purposes of determining

                                  4

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






    Florida Senate - 2006                                  SJR 384
    32-116A-06                                         See HJR 239




 1  the assessed value of the replacement homestead property, and

 2  adjusting the $250,000 threshold to reflect the rate of

 3  inflation of the Consumer Price Index for housing.

 4  

 5  

 6  

 7  

 8  

 9  

10  

11  

12  

13  

14  

15  

16  

17  

18  

19  

20  

21  

22  

23  

24  

25  

26  

27  

28  

29  

30  

31  

                                  5

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