1 | Representative(s) Domino offered the following: |
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3 | Substitute Amendment for Amendment (430313) to the Senate |
4 | Joint Resolution (with title amendment) |
5 | On page 1, line(s) 22, remove everything after resolving |
6 | clause and insert: |
7 | That the following amendment to Section 4 of Article VII of |
8 | the State Constitution is agreed to and shall be submitted to |
9 | the electors of this state for approval or rejection at the next |
10 | general election or at an earlier special election specifically |
11 | authorized by law for that purpose: |
12 | ARTICLE VII |
13 | FINANCE AND TAXATION |
14 | SECTION 4. Taxation; assessments.--By general law |
15 | regulations shall be prescribed which shall secure a just |
16 | valuation of all property for ad valorem taxation, provided: |
17 | (a) Agricultural land, land producing high water recharge |
18 | to Florida's aquifers, or land used exclusively for |
19 | noncommercial recreational purposes may be classified by general |
20 | law and assessed solely on the basis of character or use. |
21 | (b) Pursuant to general law tangible personal property |
22 | held for sale as stock in trade and livestock may be valued for |
23 | taxation at a specified percentage of its value, may be |
24 | classified for tax purposes, or may be exempted from taxation. |
25 | (c) All persons entitled to a homestead exemption under |
26 | Section 6 of this Article shall have their homestead assessed at |
27 | just value as of January 1 of the year following the effective |
28 | date of this amendment. This assessment shall change only as |
29 | provided herein. |
30 | (1) Assessments subject to this provision shall be changed |
31 | annually on January 1st of each year; but those changes in |
32 | assessments shall not exceed the lower of the following: |
33 | a. Three percent (3%) of the assessment for the prior |
34 | year. |
35 | b. The percent change in the Consumer Price Index for all |
36 | urban consumers, U.S. City Average, all items 1967=100, or |
37 | successor reports for the preceding calendar year as initially |
38 | reported by the United States Department of Labor, Bureau of |
39 | Labor Statistics. |
40 | (2) No assessment shall exceed just value. |
41 | (3) After any change of ownership, as provided by general |
42 | law, homestead property shall be assessed at just value as of |
43 | January 1 of the following year, unless the provisions of |
44 | paragraph (8) apply. Thereafter, the homestead shall be assessed |
45 | as provided herein. |
46 | (4) New homestead property shall be assessed at just value |
47 | as of January 1st of the year following the establishment of the |
48 | homestead, unless the provisions of paragraph (8) apply. That |
49 | assessment shall only change as provided herein. |
50 | (5) Changes, additions, reductions, or improvements to |
51 | homestead property shall be assessed as provided for by general |
52 | law; provided, however, after the adjustment for any change, |
53 | addition, reduction, or improvement, the property shall be |
54 | assessed as provided herein. |
55 | (6) In the event of a termination of homestead status, the |
56 | property shall be assessed as provided by general law. |
57 | (7) The provisions of this amendment are severable. If any |
58 | of the provisions of this amendment shall be held |
59 | unconstitutional by any court of competent jurisdiction, the |
60 | decision of such court shall not affect or impair any remaining |
61 | provisions of this amendment. |
62 | (8) When a person sells his or her homestead property |
63 | within this state and within one year purchases another property |
64 | and establishes such property as homestead property, the newly |
65 | established homestead property shall be initially assessed at |
66 | less than just value, as provided by general law. The difference |
67 | between the new homestead property's just value and its assessed |
68 | value in the first year the homestead is established may not |
69 | exceed the difference between the previous homestead's just |
70 | value and its assessed value in the year of sale. In addition, |
71 | to be assessed as provided in this paragraph, the assessed value |
72 | of the new homestead must equal or exceed the assessed value of |
73 | the previous homestead. Thereafter, the homestead shall be |
74 | assessed as provided herein. |
75 | (d) The legislature may, by general law, for assessment |
76 | purposes and subject to the provisions of this subsection, allow |
77 | counties and municipalities to authorize by ordinance that |
78 | historic property may be assessed solely on the basis of |
79 | character or use. Such character or use assessment shall apply |
80 | only to the jurisdiction adopting the ordinance. The |
81 | requirements for eligible properties must be specified by |
82 | general law. |
83 | (e) A county may, in the manner prescribed by general law, |
84 | provide for a reduction in the assessed value of homestead |
85 | property to the extent of any increase in the assessed value of |
86 | that property which results from the construction or |
87 | reconstruction of the property for the purpose of providing |
88 | living quarters for one or more natural or adoptive grandparents |
89 | or parents of the owner of the property or of the owner's spouse |
90 | if at least one of the grandparents or parents for whom the |
91 | living quarters are provided is 62 years of age or older. Such a |
92 | reduction may not exceed the lesser of the following: |
93 | (1) The increase in assessed value resulting from |
94 | construction or reconstruction of the property. |
95 | (2) Twenty percent of the total assessed value of the |
96 | property as improved. |
97 | BE IT FURTHER RESOLVED that the following statement be |
98 | placed on the ballot: |
99 | CONSTITUTIONAL AMENDMENT |
100 | ARTICLE VII, SECTION 4 |
101 | HOMESTEAD PROPERTY ASSESSMENTS.--Proposing an amendment to |
102 | the State Constitution to provide for assessing at less than |
103 | just value property purchased within one year after a sale of |
104 | homestead property and established as new homestead property, |
105 | limited by the difference between the new homestead property's |
106 | just value and its assessed value in the first year the |
107 | homestead is established not exceeding the difference between |
108 | the previous homestead's just value and its assessed value in |
109 | the year of sale and the new homestead property's assessed value |
110 | equaling or exceeding the old homestead property's assessed |
111 | value. |
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114 | ========= T I T L E A M E N D M E N T ========= |
115 | On page 1, line (s) 2-18,remove all of said lines and |
116 | insert: |
117 | A joint resolution proposing an amendment to Section 4 of |
118 | Article VII of the State Constitution to provide an additional |
119 | circumstance for assessing homestead property at less than just |
120 | value. |