Florida Senate - 2007                        SENATOR AMENDMENT
    Bill No. CS for SJR 2-D, 2nd Eng.
                        Barcode 170122
                            CHAMBER ACTION
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       10/29/2007 11:51 AM         .                    
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11  Senator Haridopolos moved the following Senate amendment to
12  Senate amendment to House amendment (392230):
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14         Senate Amendment 
15         On page 13, line 10, through
16            page 14, line 12, delete those lines
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18  and insert:  exemption except for school district taxes and
19  (2) allows homestead property owners to transfer up to
20  $500,000 of their Save-Our-Homes benefits to their next
21  homestead. With respect to nonhomestead property, this
22  revision (3) provides a $25,000 exemption for tangible
23  personal property and (4) limits assessment increases for
24  specified nonhomestead real property except for school
25  district taxes.
26         In more detail, this revision:
27         (1)  Increases the homestead exemption by exempting the
28  assessed value between $50,000 and $75,000. This exemption
29  does not apply to school district taxes.
30         (2)  Provides for the transfer of accumulated
31  Save-Our-Homes benefits. Homestead property owners will be
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    10:37 AM   10/29/07                           s0002De2b-26-j15


    Florida Senate - 2007                        SENATOR AMENDMENT
    Bill No. CS for SJR 2-D, 2nd Eng.
                        Barcode 170122
 1  able to transfer their Save-Our-Homes benefit to a new
 2  homestead within 1 year and not more than 2 years after
 3  relinquishing their previous homestead; except, if this
 4  revision is approved by the electors in January of 2008 and if
 5  the new homestead is established on January 1, 2008, the
 6  previous homestead must have been relinquished in 2007. If the
 7  new homestead has a higher just value than the previous one,
 8  the accumulated benefit can be transferred; if the new
 9  homestead has a lower just value, the amount of benefit
10  transferred will be reduced. The transferred benefit may not
11  exceed $500,000. This provision applies to all taxes.
12         (3)  Authorizes an exemption from property taxes of
13  $25,000 of assessed value of tangible personal property. This
14  provision applies to all taxes.
15         (4)  Limits the assessment increases for specified
16  nonhomestead real property to 10 percent each year. Property
17  will be assessed at just value following an improvement, as
18  defined by general law, and may be assessed at just value
19  following a change of ownership or control if provided by
20  general law. This limitation does not apply to school district
21  taxes. This limitation is repealed
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