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 provisions of |
46 | paragraph (8) apply. Thereafter, the homestead shall be assessed |
47 | 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 provisions of paragraph (8) apply. That |
51 | assessment shall only change as provided herein. |
52 | (5) Changes, additions, reductions, or improvements to |
53 | homestead property shall be assessed as provided for by general |
54 | law; provided, however, after the adjustment for any change, |
55 | addition, reduction, or improvement, the property shall be |
56 | assessed as provided herein. |
57 | (6) In the event of a termination of homestead status, the |
58 | property shall be assessed as provided by general law. |
59 | (7) The provisions of this amendment are severable. If any |
60 | of the provisions of this amendment shall be held |
61 | unconstitutional by any court of competent jurisdiction, the |
62 | decision of such court shall not affect or impair any remaining |
63 | provisions of this amendment. |
64 | (8) When a person sells or transfers his or her homestead |
65 | property within this state or ceases to maintain his or her |
66 | permanent residence on that property and within two years |
67 | establishes another property as his or her homestead, the newly |
68 | established homestead property shall be initially assessed at |
69 | less than just value, as provided by general law. The difference |
70 | between the new homestead property's just value and its assessed |
71 | value in the first year the homestead is established may not |
72 | exceed the difference between the previous homestead's just value |
73 | and its assessed value in the year of sale, and the assessed |
74 | value of the new homestead must equal or exceed the assessed |
75 | value of the previous homestead. Thereafter, the homestead shall |
76 | be assessed as provided herein. |
77 | (d) The legislature may, by general law, for assessment |
78 | purposes and subject to the provisions of this subsection, allow |
79 | counties and municipalities to authorize by ordinance that |
80 | historic property may be assessed solely on the basis of |
81 | character or use. Such character or use assessment shall apply |
82 | only to the jurisdiction adopting the ordinance. The |
83 | requirements for eligible properties must be specified by |
84 | general law. |
85 | (e) A county may, in the manner prescribed by general law, |
86 | provide for a reduction in the assessed value of homestead |
87 | property to the extent of any increase in the assessed value of |
88 | that property which results from the construction or |
89 | reconstruction of the property for the purpose of providing |
90 | living quarters for one or more natural or adoptive grandparents |
91 | or parents of the owner of the property or of the owner's spouse |
92 | if at least one of the grandparents or parents for whom the |
93 | living quarters are provided is 62 years of age or older. Such a |
94 | reduction may not exceed the lesser of the following: |
95 | (1) The increase in assessed value resulting from |
96 | construction or reconstruction of the property. |
97 | (2) Twenty percent of the total assessed value of the |
98 | property as improved. |
99 | BE IT FURTHER RESOLVED that the following statement be |
100 | placed on the ballot: |
101 | CONSTITUTIONAL AMENDMENT |
102 | ARTICLE VII, SECTION 4 |
103 | HOMESTEAD PROPERTY ASSESSMENTS.--Proposing an amendment to |
104 | the State Constitution to provide for assessing at less than |
105 | just value property purchased within two years after a sale or |
106 | transfer of homestead property and established as new homestead |
107 | property, limited by the difference between the new homestead |
108 | property's just value and its assessed value in the first year |
109 | the homestead is established not exceeding the difference |
110 | between the previous homestead's just value and its assessed |
111 | value in the year of sale and the new homestead property's |
112 | assessed value equaling or exceeding the old homestead |
113 | property's assessed value. |