Senate Bill sb7028pb
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Florida Senate - 2006 (PROPOSED COMMITTEE BILL) SPB 7028
FOR CONSIDERATION By the Committee on Government Efficiency
Appropriations
593-467-06
1 A bill to be entitled
2 An act relating to property taxation; amending
3 s. 193.155, F.S.; providing conditions under
4 which changes, additions, or improvements that
5 replace all or a portion of homestead property
6 damaged or destroyed by misfortune or calamity
7 shall not be assessed at just value; providing
8 for assessment of replaced homestead property
9 and property damaged or destroyed by misfortune
10 or calamity; amending s. 196.031, F.S.;
11 providing conditions under which homestead
12 property that is damaged or destroyed by
13 misfortune or calamity and is uninhabitable on
14 January 1 after the damage or destruction
15 occurs may be granted the homestead exemption;
16 providing for retroactive application;
17 providing an effective date.
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19 Be It Enacted by the Legislature of the State of Florida:
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21 Section 1. Subsection (4) of section 193.155, Florida
22 Statutes, is amended to read:
23 193.155 Homestead assessments.--Homestead property
24 shall be assessed at just value as of January 1, 1994.
25 Property receiving the homestead exemption after January 1,
26 1994, shall be assessed at just value as of January 1 of the
27 year in which the property receives the exemption.
28 (4)(a) Except as provided in paragraph (b), changes,
29 additions, or improvements to homestead property shall be
30 assessed at just value as of the first January 1 after the
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Florida Senate - 2006 (PROPOSED COMMITTEE BILL) SPB 7028
593-467-06
1 changes, additions, or improvements are substantially
2 completed.
3 (b) Changes, additions, or improvements that replace
4 all or do not include replacement of a portion of real
5 property damaged or destroyed by misfortune or calamity shall
6 not increase assessed value when the just value of the damaged
7 or destroyed portion as replaced is not more than 125 percent
8 of the just value of the damaged or destroyed portion.
9 Assessed value shall be increased by the just value of any
10 replaced real property, or portion thereof, which is in excess
11 of 125 percent of the just value of the damaged or destroyed
12 property shall be deemed to be a change, addition, or
13 improvement. For purposes of determing assessed value pursuant
14 to this paragraph, the just value of the replaced property
15 shall be determined as of January 1 of the year following the
16 replacement, and the just value of the damaged or destroyed
17 portion shall be determined as if it still existed on January
18 1 of the year following its replacement. Replaced real
19 property that has with a just value of less than 100 percent
20 of the original property's just value before the damage or
21 destruction shall be assessed pursuant to subsection (5).
22 (c) Changes, additions, or improvements include
23 improvements made to common areas or other improvements made
24 to property other than to the homestead property by the owner
25 or by an owner association, which improvements directly
26 benefit the homestead property. Such changes, additions, or
27 improvements shall be assessed at just value, and the just
28 value shall be apportioned among the parcels benefiting from
29 the improvement.
30 Section 2. Subsection (7) is added to section 196.031,
31 Florida Statutes, to read:
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Florida Senate - 2006 (PROPOSED COMMITTEE BILL) SPB 7028
593-467-06
1 196.031 Exemption of homesteads.--
2 (7) When homestead property is damaged or destroyed by
3 misfortune or calamity and the property is uninhabitable on
4 January 1 after the damage or destruction occurs, the
5 homestead exemption may be granted if the property is
6 otherwise qualified and if the property owner notifies the
7 property appraiser that he or she intends to repair or rebuild
8 the property and live in it as his or her primary residence
9 after it is repaired or rebuilt and does not claim a homestead
10 exemption on any other property or otherwise violate this
11 section while the repairs are being made.
12 Section 3. This act shall take effect upon becoming a
13 law and shall apply retroactively to January 1, 2006.
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16 SENATE SUMMARY
17 Provides for determining the assessed value of damaged or
destroyed property as if it still existed on January 1 of
18 the year following its replacement. Provides for a
property owner to claim the homestead exemption for
19 property that the owner intends to repair or rebuild and
live in as a residence.
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