Amendment
Bill No. 0003B
Amendment No. 087435
CHAMBER ACTION
Senate House
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1Representative(s) Domino offered the following:
2
3     Amendment (with ballot statement and title amendments)
4     Remove line(s) 113-132 and insert:
5     (3)  After any change of ownership, as provided by general
6law, homestead property shall be assessed at just value as of
7January 1 of the following year, unless the provisions of
8paragraph (7) apply. Thereafter, the homestead shall be assessed
9as provided herein.
10     (4)  New homestead property shall be assessed at just value
11as of January 1st of the year following the establishment of the
12homestead. That assessment shall only change as provided herein.
13     (4)(5)  Changes, additions, reductions, or improvements to
14homestead property shall be assessed as provided for by general
15law; provided, however, after the adjustment for any change,
16addition, reduction, or improvement, the property shall be
17assessed as provided herein.
18     (5)(6)  In the event of a termination of homestead status,
19the property shall be assessed at just value as of January 1 of
20the following year as provided by general law.
21     (6)(7)  The provisions of this amendment are severable. If
22any of the provisions of this amendment shall be held
23unconstitutional by any court of competent jurisdiction, the
24decision of such court shall not affect or impair any remaining
25provisions of this amendment.
26     (7)  When a person sells his or her homestead property
27within this state and within one year purchases another property
28and establishes such property as homestead property, the newly
29established homestead property shall be initially assessed at
30less than just value, as provided by general law. The difference
31between the new homestead property's just value and its assessed
32value in the first year the homestead is established may not
33exceed the difference between the previous homestead's just
34value and its assessed value in the year of sale. In addition,
35to be assessed as provided in this paragraph, the assessed value
36of the new homestead must equal or exceed the assessed value of
37the previous homestead. Thereafter, the homestead shall be
38assessed as provided herein.
39
40== B A L L O T  S T A T E M E N T  A M E N D M E N T ==
41     Remove line(s) 365 and insert:
42property; to provide for assessing at less than just value
43property purchased within one year after a sale of homestead
44property and established as new homestead property, limited by
45the difference between the new homestead property's just value
46and its assessed value in the first year the homestead is
47established not exceeding the difference between the previous
48homestead's just value and its assessed value in the year of
49sale and the new homestead property's assessed value equaling or
50exceeding the old homestead property's assessed value; to
51provide for assessing rent-restricted affordable
52
53======= T I T L E  A M E N D M E N T =======
54     Remove line(s) 8 and insert:
55property, provide an additional circumstance for assessing
56homestead property at less than just value, provide for
57assessing rent-restricted affordable


CODING: Words stricken are deletions; words underlined are additions.