| 1 | Representative(s) Randolph offered the following: |
| 2 |
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| 3 | Amendment to Amendment (749169) (with directory, schedule, |
| 4 | ballot, and title amendments) |
| 5 | Remove line(s) 218-235 and insert: |
| 6 | (5) The provisions of this subsection shall apply to all |
| 7 | levies other than school district levies. |
| 8 | (i) Assessments of real property that is not subject to |
| 9 | the assessment limitations set forth in subsections (a) through |
| 10 | (h) shall change only as provided herein. |
| 11 | (1) Assessments subject to this subsection shall be |
| 12 | changed annually on the assessment date each year as provided by |
| 13 | law; but those changes in assessments shall not exceed five |
| 14 | percent (5%) of the assessment for the prior year. |
| 15 | (2) No assessment shall exceed just value. |
| 16 | (3) After any improvement is made to such property or |
| 17 | after any change is made to the property's character or use, as |
| 18 | defined by general law, such property shall be assessed at just |
| 19 | value as of the next assessment date. Thereafter, such property |
| 20 | shall be assessed as provided herein. |
| 21 | (4) Changes, additions, reductions, or improvements to |
| 22 | such property shall be assessed as provided for by general law; |
| 23 | provided, however, after the adjustment for any change, |
| 24 | addition, reduction, or improvement, the property shall be |
| 25 | assessed as provided herein. |
| 26 | (5) The provisions of this subsection shall apply to all |
| 27 | levies other than school district levies. |
| 28 |
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| 29 | ----------------------------------------------------- |
| 30 | S C H E D U L E A M E N D M E N T |
| 31 | Remove line(s) 492 and insert: |
| 32 | specified real property exclusive of school district levies, |
| 33 | providing for an additional alternative |
| 34 |
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| 35 | ----------------------------------------------------- |
| 36 | B A L L O T A M E N D M E N T |
| 37 | Remove line(s) 527-577 and insert: |
| 38 | tangible personal property, and (7) provides for limitations on |
| 39 | assessment increases for real property that is not homestead |
| 40 | property exclusive of school district levies. Further, this |
| 41 | revision (8) requires the Legislature to limit the authority of |
| 42 | local governments other than school districts to increase |
| 43 | property taxes, and (9) requires all county property appraisers |
| 44 | or persons responsible for the duties of a property appraiser in |
| 45 | certain counties in which the office of property appraiser has |
| 46 | been abolished to be elected. |
| 47 | In more detail, this revision: |
| 48 | (1) Provides for an additional homestead exemption equal |
| 49 | to 40 percent of the median just value of homestead property in |
| 50 | the county for the prior year for the portion of the assessed |
| 51 | value greater than $50,000. This exemption applies in any year |
| 52 | in which the amount of the exemption exceeds the amount of the |
| 53 | cumulative assessment limitation provided under Save Our Homes. |
| 54 | This exemption does not apply to school district levies. |
| 55 | (2) Provides for an additional homestead exemption for |
| 56 | certain low-income seniors. Persons 65 or older whose household |
| 57 | income is less than $23,604, adjusted annually for inflation, |
| 58 | are entitled to an additional alternative homestead exemption. |
| 59 | This exemption applies in any year in which the amount of the |
| 60 | exemption exceeds the amount of the cumulative assessment |
| 61 | limitation provided under Save Our Homes. This exemption does |
| 62 | not apply to school district levies. |
| 63 | (3) Provides for the transfer of cumulative Save-Our-Homes |
| 64 | benefits in a manner that does not affect school district |
| 65 | levies. Homestead property owners will be able to transfer their |
| 66 | Save-Our-Homes benefit to a new homestead within 2 years after |
| 67 | relinquishing their previous homestead; except, if the new |
| 68 | homestead is established on January 1, 2008, the previous |
| 69 | homestead must have been relinquished in 2007. If the new |
| 70 | homestead has a higher just value than the old one, the benefit |
| 71 | can be transferred; if the new homestead has a lower just value, |
| 72 | the amount of benefit transferred will be reduced in proportion |
| 73 | of the just value of the new homestead to the just value of the |
| 74 | old homestead. The transferred benefit may not exceed $1 |
| 75 | million. This provision does not apply to school district levies |
| 76 | on the new homestead. |
| 77 | (4) Provides for assessing certain rent-restricted |
| 78 | affordable housing property as provided by general law. This |
| 79 | provision does not apply to school district levies. |
| 80 | (5) Provides for assessing certain waterfront property |
| 81 | used for commercial fishing, commercial water-dependent |
| 82 | activities, and public access as provided by general law. This |
| 83 | provision does not apply to school district levies. |
| 84 | (6) Authorizes an exemption from ad valorem taxes of |
| 85 | $25,000 of assessed value of tangible personal property. This |
| 86 | provision applies to all tax levies. |
| 87 | (7) Creates a limitation on assessment increases for |
| 88 | specified real property that is not entitled to the homestead |
| 89 | exemption exclusive of school district levies. |
| 90 |
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| 91 |
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| 92 | ----------------------------------------------------- |
| 93 | T I T L E A M E N D M E N T |
| 94 | Remove line(s) 620 and insert: |
| 95 | property exclusive of school district levies, to create an |
| 96 | additional alternative homestead |