| 1 | A bill to be entitled |
| 2 | An act relating to homestead property assessments; |
| 3 | amending s. 193.155, F.S.; revising exceptions applicable |
| 4 | to damaged or destroyed homestead property to a |
| 5 | requirement that changes, additions, or improvements to |
| 6 | homestead property be assessed at just value under certain |
| 7 | circumstances; providing for assessment of changed or |
| 8 | improved homestead property; amending s. 196.031,F.S.; |
| 9 | providing for the continued granting of a homestead |
| 10 | exemption for certain damaged or destroyed homestead |
| 11 | property under certain circumstances; providing for |
| 12 | retroactive application; providing an effective date. |
| 13 |
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| 14 | Be It Enacted by the Legislature of the State of Florida: |
| 15 |
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| 16 | Section 1. Subsection (4) of section 193.155, Florida |
| 17 | Statutes, is amended to read: |
| 18 | 193.155 Homestead assessments.--Homestead property shall |
| 19 | be assessed at just value as of January 1, 1994. Property |
| 20 | receiving the homestead exemption after January 1, 1994, shall |
| 21 | be assessed at just value as of January 1 of the year in which |
| 22 | the property receives the exemption. |
| 23 | (4)(a) Except as provided in paragraph (b), changes, |
| 24 | additions, or improvements to homestead property shall be |
| 25 | assessed at just value as of the first January 1 after the |
| 26 | changes, additions, or improvements are substantially completed. |
| 27 | (b) Changes, additions, or improvements that replace all |
| 28 | or do not include replacement of a portion of homestead real |
| 29 | property damaged or destroyed by misfortune or calamity shall |
| 30 | not increase the homestead property's assessed value when the |
| 31 | square footage of the homestead property as changed or improved |
| 32 | does not exceed 110 percent of the square footage of the |
| 33 | homestead property before the damage or destruction just value |
| 34 | of the damaged or destroyed portion as replaced is not more than |
| 35 | 125 percent of the just value of the damaged or destroyed |
| 36 | portion. Additionally, the homestead property's assessed value |
| 37 | shall not increase if the total square footage of the homestead |
| 38 | property as changed or improved does not exceed 1,500 square |
| 39 | feet. Changes, additions, or improvements that do not cause the |
| 40 | total to exceed 110 percent of the total square footage of the |
| 41 | homestead property before the damage or destruction or that do |
| 42 | not cause the total to exceed 1,500 total square feet shall be |
| 43 | reassessed as provided under subsection (1). The homestead |
| 44 | property's assessed value shall be increased by the just value |
| 45 | of that portion of the changed or improved homestead property |
| 46 | any replaced real property, or portion thereof, which is in |
| 47 | excess of 110 125 percent of the square footage of the homestead |
| 48 | property before the damage or destruction or of that portion |
| 49 | exceeding 1,500 square feet just value of the damaged or |
| 50 | destroyed property shall be deemed to be a change, addition, or |
| 51 | improvement. Homestead Replaced real property damaged or |
| 52 | destroyed by misfortune or calamity which, after being changed |
| 53 | or improved, has a square footage with a just value of less than |
| 54 | 100 percent of the homestead original property's total square |
| 55 | footage before the damage or destruction just value shall be |
| 56 | assessed pursuant to subsection (5). For purposes of determining |
| 57 | assessed value pursuant to this paragraph, the just value of the |
| 58 | changed or improved portion in excess of 110 percent of the |
| 59 | square footage of the homestead property before the damage or |
| 60 | destruction, or that portion exceeding 1,500 square feet, shall |
| 61 | be determined based on the average just value of all square |
| 62 | footage in the improved portions of the homestead property |
| 63 | determined as of January 1 of the year following the change or |
| 64 | improvement. |
| 65 | (c) Changes, additions, or improvements include |
| 66 | improvements made to common areas or other improvements made to |
| 67 | property other than to the homestead property by the owner or by |
| 68 | an owner association, which improvements directly benefit the |
| 69 | homestead property. Such changes, additions, or improvements |
| 70 | shall be assessed at just value, and the just value shall be |
| 71 | apportioned among the parcels benefiting from the improvement. |
| 72 | Section 2. Subsection (7) is added to section 196.031, |
| 73 | Florida Statutes, to read: |
| 74 | 196.031 Exemption of homesteads.-- |
| 75 | (7) When homestead property is damaged or destroyed by |
| 76 | misfortune or calamity and the property is uninhabitable on |
| 77 | January 1 after the damage or destruction occurs, the homestead |
| 78 | exemption may be granted if the property is otherwise qualified |
| 79 | and if the property owner notifies the property appraiser that |
| 80 | he or she intends to repair or rebuild the property and live in |
| 81 | the property as his or her primary residence after the property |
| 82 | is repaired or rebuilt and does not claim a homestead exemption |
| 83 | on any other property or otherwise violate this section. |
| 84 | Section 3. This act shall take effect upon becoming a law |
| 85 | and shall apply retroactively to January 1, 2006. |