Senate Bill sb0012B
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Florida Senate - 2007 SJR 12-B
By Senator Fasano
11-2705-07
1 Senate Joint Resolution
2 A joint resolution proposing an amendment to
3 Section 4 of Article VII of the State
4 Constitution, relating to limitations on
5 assessments of residential and commercial
6 property.
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8 Be It Resolved by the Legislature of the State of Florida:
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10 That the following amendment to Section 4 of Article
11 VII of the State Constitution is agreed to and shall be
12 submitted to the electors of this state for approval or
13 rejection at the next general election or at an earlier
14 special election specifically authorized by law for that
15 purpose:
16 ARTICLE VII
17 FINANCE AND TAXATION
18 SECTION 4. Taxation; assessments.--By general law
19 regulations shall be prescribed which shall secure a just
20 valuation of all property for ad valorem taxation, provided:
21 (a) Agricultural land, land producing high water
22 recharge to Florida's aquifers, or land used exclusively for
23 noncommercial recreational purposes may be classified by
24 general law and assessed solely on the basis of character or
25 use.
26 (b) Pursuant to general law tangible personal property
27 held for sale as stock in trade and livestock may be valued
28 for taxation at a specified percentage of its value, may be
29 classified for tax purposes, or may be exempted from taxation.
30 (c) All residential and commercial property persons
31 entitled to a homestead exemption under Section 6 of this
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Florida Senate - 2007 SJR 12-B
11-2705-07
1 Article shall be have their homestead assessed at just value
2 as of January 1 of the year following the effective date of
3 this amendment. This assessment shall change only as provided
4 herein.
5 (1) Assessments subject to this provision shall be
6 changed annually on January 1st of each year; but those
7 changes in assessments shall not exceed the lower of the
8 following:
9 a. Three percent (3%) of the assessment for the prior
10 year.
11 b. The percent change in the Consumer Price Index for
12 all urban consumers, U.S. City Average, all items 1967=100, or
13 successor reports for the preceding calendar year as initially
14 reported by the United States Department of Labor, Bureau of
15 Labor Statistics.
16 (2) No assessment shall exceed just value.
17 (3) After any change of ownership, as provided by
18 general law, residential and commercial homestead property
19 shall be assessed at just value as of January 1 of the
20 following year. Thereafter, the property homestead shall be
21 assessed as provided herein.
22 (4) New residential and commercial homestead property
23 shall be assessed at just value as of January 1st of the year
24 following the completion of construction establishment of the
25 property homestead. That assessment shall only change as
26 provided herein.
27 (5) Changes, additions, reductions, or improvements to
28 residential property or commercial homestead property shall be
29 assessed as provided for by general law; provided, however,
30 after the adjustment for any change, addition, reduction, or
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Florida Senate - 2007 SJR 12-B
11-2705-07
1 improvement, the property shall be assessed as provided
2 herein.
3 (6) In the event of a termination of homestead status,
4 the property shall be assessed as provided by general law.
5 (6)(7) The provisions of this amendment are severable.
6 If any of the provisions of this amendment shall be held
7 unconstitutional by any court of competent jurisdiction, the
8 decision of such court shall not affect or impair any
9 remaining provisions of this amendment.
10 (d) The legislature may, by general law, for
11 assessment purposes and subject to the provisions of this
12 subsection, allow counties and municipalities to authorize by
13 ordinance that historic property may be assessed solely on the
14 basis of character or use. Such character or use assessment
15 shall apply only to the jurisdiction adopting the ordinance.
16 The requirements for eligible properties must be specified by
17 general law.
18 (e) A county may, in the manner prescribed by general
19 law, provide for a reduction in the assessed value of
20 homestead property to the extent of any increase in the
21 assessed value of that property which results from the
22 construction or reconstruction of the property for the purpose
23 of providing living quarters for one or more natural or
24 adoptive grandparents or parents of the owner of the property
25 or of the owner's spouse if at least one of the grandparents
26 or parents for whom the living quarters are provided is 62
27 years of age or older. Such a reduction may not exceed the
28 lesser of the following:
29 (1) The increase in assessed value resulting from
30 construction or reconstruction of the property.
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Florida Senate - 2007 SJR 12-B
11-2705-07
1 (2) Twenty percent of the total assessed value of the
2 property as improved.
3 BE IT FURTHER RESOLVED that the following statement be
4 placed on the ballot:
5 CONSTITUTIONAL AMENDMENT
6 ARTICLE VII, SECTION 4
7 LIMITATIONS ON ASSESSMENTS OF RESIDENTIAL AND
8 COMMERCIAL PROPERTY.--Proposing an amendment to the State
9 Constitution to apply to all residential and commercial
10 property the limitations on assessments of property at just
11 value currently applicable only to homestead property.
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