| 1 | A bill to be entitled |
| 2 | An act relating to the assessment of homestead property; |
| 3 | amending s. 193.155, F.S.; providing that certain changes |
| 4 | made to homestead property for purposes of disaster |
| 5 | preparedness do not increase the assessed value of the |
| 6 | property; providing an effective date. |
| 7 |
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| 8 | Be It Enacted by the Legislature of the State of Florida: |
| 9 |
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| 10 | Section 1. Paragraph (b) of subsection (4) of section |
| 11 | 193.155, Florida Statutes, is amended to read: |
| 12 | 193.155 Homestead assessments.--Homestead property shall |
| 13 | be assessed at just value as of January 1, 1994. Property |
| 14 | receiving the homestead exemption after January 1, 1994, shall |
| 15 | be assessed at just value as of January 1 of the year in which |
| 16 | the property receives the exemption. |
| 17 | (4) |
| 18 | (b)1. The addition of storm shutters, impact-resistant |
| 19 | glazing, hurricane clips and straps, or generators for purposes |
| 20 | of disaster preparedness shall not increase the assessed value |
| 21 | of homestead property. |
| 22 | 2. Changes, additions, or improvements that replace all or |
| 23 | a portion of homestead property damaged or destroyed by |
| 24 | misfortune or calamity shall not increase the homestead |
| 25 | property's assessed value when the square footage of the |
| 26 | homestead property as changed or improved does not exceed 110 |
| 27 | percent of the square footage of the homestead property before |
| 28 | the damage or destruction. Additionally, the homestead |
| 29 | property's assessed value shall not increase if the total square |
| 30 | footage of the homestead property as changed or improved does |
| 31 | not exceed 1,500 square feet. Changes, additions, or |
| 32 | improvements that do not cause the total to exceed 110 percent |
| 33 | of the total square footage of the homestead property before the |
| 34 | damage or destruction or that do not cause the total to exceed |
| 35 | 1,500 total square feet shall be reassessed as provided under |
| 36 | subsection (1). The homestead property's assessed value shall be |
| 37 | increased by the just value of that portion of the changed or |
| 38 | improved homestead property which is in excess of 110 percent of |
| 39 | the square footage of the homestead property before the damage |
| 40 | or destruction or of that portion exceeding 1,500 square feet. |
| 41 | Homestead property damaged or destroyed by misfortune or |
| 42 | calamity which, after being changed or improved, has a square |
| 43 | footage of less than 100 percent of the homestead property's |
| 44 | total square footage before the damage or destruction shall be |
| 45 | assessed pursuant to subsection (5). This subparagraph paragraph |
| 46 | applies to changes, additions, or improvements commenced within |
| 47 | 3 years after the January 1 following the damage or destruction |
| 48 | of the homestead. |
| 49 | Section 2. This act shall take effect July 1, 2007. |