| 1 | House Joint Resolution |
| 2 | A joint resolution proposing an amendment to Section 4 of |
| 3 | Article VII of the State Constitution to provide an |
| 4 | additional circumstance for assessing homestead property |
| 5 | at less than just value. |
| 6 |
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| 7 | Be It Resolved by the Legislature of the State of Florida: |
| 8 |
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| 9 | That the following amendment to Section 4 of Article VII of |
| 10 | the State Constitution is agreed to and shall be submitted to |
| 11 | the electors of this state for approval or rejection at the next |
| 12 | general election or at an earlier special election specifically |
| 13 | authorized by law for that purpose: |
| 14 | ARTICLE VII |
| 15 | FINANCE AND TAXATION |
| 16 | SECTION 4. Taxation; assessments.--By general law |
| 17 | regulations shall be prescribed which shall secure a just |
| 18 | valuation of all property for ad valorem taxation, provided: |
| 19 | (a) Agricultural land, land producing high water recharge |
| 20 | to Florida's aquifers, or land used exclusively for |
| 21 | noncommercial recreational purposes may be classified by general |
| 22 | law and assessed solely on the basis of character or use. |
| 23 | (b) Pursuant to general law tangible personal property |
| 24 | held for sale as stock in trade and livestock may be valued for |
| 25 | taxation at a specified percentage of its value, may be |
| 26 | classified for tax purposes, or may be exempted from taxation. |
| 27 | (c) All persons entitled to a homestead exemption under |
| 28 | Section 6 of this Article shall have their homestead assessed at |
| 29 | just value as of January 1 of the year following the effective |
| 30 | date of this amendment. This assessment shall change only as |
| 31 | provided herein. |
| 32 | (1) Assessments subject to this provision shall be changed |
| 33 | annually on January 1st of each year; but those changes in |
| 34 | assessments shall not exceed the lower of the following: |
| 35 | a. Three percent (3%) of the assessment for the prior |
| 36 | year. |
| 37 | b. The percent change in the Consumer Price Index for all |
| 38 | urban consumers, U.S. City Average, all items 1967=100, or |
| 39 | successor reports for the preceding calendar year as initially |
| 40 | reported by the United States Department of Labor, Bureau of |
| 41 | Labor Statistics. |
| 42 | (2) No assessment shall exceed just value. |
| 43 | (3) After any change of ownership, as provided by general |
| 44 | law, homestead property shall be assessed at just value as of |
| 45 | January 1 of the following year, unless the application of |
| 46 | paragraph (8) yields an initial lesser assessment. Thereafter, |
| 47 | the homestead shall be assessed as provided herein. |
| 48 | (4) New homestead property shall be assessed at just value |
| 49 | as of January 1st of the year following the establishment of the |
| 50 | homestead, unless the application of paragraph (8) yields an |
| 51 | initial lesser assessment. That assessment shall only change as |
| 52 | provided herein. |
| 53 | (5) Changes, additions, reductions, or improvements to |
| 54 | homestead property shall be assessed as provided for by general |
| 55 | law; provided, however, after the adjustment for any change, |
| 56 | addition, reduction, or improvement, the property shall be |
| 57 | assessed as provided herein. |
| 58 | (6) In the event of a termination of homestead status, the |
| 59 | property shall be assessed as provided by general law. |
| 60 | (7) The provisions of this amendment are severable. If any |
| 61 | of the provisions of this amendment shall be held |
| 62 | unconstitutional by any court of competent jurisdiction, the |
| 63 | decision of such court shall not affect or impair any remaining |
| 64 | provisions of this amendment. |
| 65 | (8) When a person sells his or her homestead property |
| 66 | within this state and within two years purchases another |
| 67 | property and establishes such property as homestead property, |
| 68 | the newly established homestead property shall, in the first |
| 69 | year the homestead is established, be initially assessed at less |
| 70 | than just value, as provided by general law. However, the |
| 71 | initial assessment may not be less than the assessment |
| 72 | applicable to the prior homestead property at the time of sale. |
| 73 | To qualify for such initial lesser assessment, the just value of |
| 74 | the new homestead property at the time of purchase must not |
| 75 | exceed the just value of the prior homestead property at the |
| 76 | time of sale, the person selling the prior homestead property |
| 77 | must not have previously received the initial lesser assessment |
| 78 | authorized by this paragraph for a homestead property, the new |
| 79 | homestead property and the prior homestead property must be in |
| 80 | the same county, and the total building square footage of the |
| 81 | new homestead property must not exceed one hundred ten percent |
| 82 | of the total building square footage of the prior homestead |
| 83 | property. Following the initial lesser assessment, the new |
| 84 | homestead property shall be assessed as provided in this |
| 85 | subsection. |
| 86 | (d) The legislature may, by general law, for assessment |
| 87 | purposes and subject to the provisions of this subsection, allow |
| 88 | counties and municipalities to authorize by ordinance that |
| 89 | historic property may be assessed solely on the basis of |
| 90 | character or use. Such character or use assessment shall apply |
| 91 | only to the jurisdiction adopting the ordinance. The |
| 92 | requirements for eligible properties must be specified by |
| 93 | general law. |
| 94 | (e) A county may, in the manner prescribed by general law, |
| 95 | provide for a reduction in the assessed value of homestead |
| 96 | property to the extent of any increase in the assessed value of |
| 97 | that property which results from the construction or |
| 98 | reconstruction of the property for the purpose of providing |
| 99 | living quarters for one or more natural or adoptive grandparents |
| 100 | or parents of the owner of the property or of the owner's spouse |
| 101 | if at least one of the grandparents or parents for whom the |
| 102 | living quarters are provided is 62 years of age or older. Such a |
| 103 | reduction may not exceed the lesser of the following: |
| 104 | (1) The increase in assessed value resulting from |
| 105 | construction or reconstruction of the property. |
| 106 | (2) Twenty percent of the total assessed value of the |
| 107 | property as improved. |
| 108 | BE IT FURTHER RESOLVED that the following statement be |
| 109 | placed on the ballot: |
| 110 | CONSTITUTIONAL AMENDMENT |
| 111 | ARTICLE VII, SECTION 4 |
| 112 | TAXATION; HOMESTEAD PROPERTY ASSESSMENTS.--Proposing an |
| 113 | amendment to the State Constitution to provide for assessing at |
| 114 | less than just value property purchased within 2 years after the |
| 115 | sale of homestead property if the new property is established as |
| 116 | homestead and if the initial lesser assessment of the new |
| 117 | property is not less than the assessment applicable to the prior |
| 118 | homestead at the time of sale and to provide that the just value |
| 119 | of the new homestead must not exceed the just value of the prior |
| 120 | homestead, that the person selling the prior homestead must not |
| 121 | have previously received the initial lesser assessment, that |
| 122 | both the new homestead and prior homestead must be in the same |
| 123 | county, and that the total building square footage of the new |
| 124 | homestead must not exceed 110 percent of that square footage of |
| 125 | the prior homestead. |