| 1 | A bill to be entitled |
| 2 | An act relating to real property just value; amending s. |
| 3 | 193.011, F.S.; limiting the just value of real property |
| 4 | determined by property appraisers; providing an effective |
| 5 | date. |
| 6 |
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| 7 | Be It Enacted by the Legislature of the State of Florida: |
| 8 |
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| 9 | Section 1. Section 193.011, Florida Statutes, is amended |
| 10 | to read: |
| 11 | 193.011 Factors to consider in deriving just |
| 12 | valuation.--In arriving at just valuation as required under s. |
| 13 | 4, Art. VII of the State Constitution, the property appraiser |
| 14 | shall take into consideration the following factors: |
| 15 | (1) The present cash value of the property, which is the |
| 16 | amount a willing purchaser would pay a willing seller, exclusive |
| 17 | of reasonable fees and costs of purchase, in cash or the |
| 18 | immediate equivalent thereof in a transaction at arm's length; |
| 19 | (2) The highest and best use to which the property can be |
| 20 | expected to be put in the immediate future and the present use |
| 21 | of the property, taking into consideration any applicable |
| 22 | judicial limitation, local or state land use regulation, or |
| 23 | historic preservation ordinance, and considering any moratorium |
| 24 | imposed by executive order, law, ordinance, regulation, |
| 25 | resolution, or proclamation adopted by any governmental body or |
| 26 | agency or the Governor when the moratorium or judicial |
| 27 | limitation prohibits or restricts the development or improvement |
| 28 | of property as otherwise authorized by applicable law. The |
| 29 | applicable governmental body or agency or the Governor shall |
| 30 | notify the property appraiser in writing of any executive order, |
| 31 | ordinance, regulation, resolution, or proclamation it adopts |
| 32 | imposing any such limitation, regulation, or moratorium; |
| 33 | (3) The location of said property; |
| 34 | (4) The quantity or size of said property; |
| 35 | (5) The cost of said property and the present replacement |
| 36 | value of any improvements thereon; |
| 37 | (6) The condition of said property; |
| 38 | (7) The income from said property; and |
| 39 | (8) The net proceeds of the sale of the property, as |
| 40 | received by the seller, after deduction of all of the usual and |
| 41 | reasonable fees and costs of the sale, including the costs and |
| 42 | expenses of financing, and allowance for unconventional or |
| 43 | atypical terms of financing arrangements. When the net proceeds |
| 44 | of the sale of any property are utilized, directly or |
| 45 | indirectly, in the determination of just valuation of realty of |
| 46 | the sold parcel or any other parcel under the provisions of this |
| 47 | section, the property appraiser, for the purposes of such |
| 48 | determination, shall exclude any portion of such net proceeds |
| 49 | attributable to payments for household furnishings or other |
| 50 | items of personal property. |
| 51 |
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| 52 | Notwithstanding the factors specified in this section or any |
| 53 | rule of the Department of Revenue, the just value of any real |
| 54 | property as determined by a property appraiser may not exceed 70 |
| 55 | percent of the market value of such property as determined by |
| 56 | the Department of Revenue, reduced by any reasonable sales |
| 57 | costs as determined by the property appraiser. |
| 58 | Section 2. This act shall take effect upon becoming a law. |