| 1 | Representative(s) Bucher offered the following: |
| 2 |
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| 3 | Amendment to Amendment (749169) (with schedule, ballot, and |
| 4 | title amendments) |
| 5 | Remove line(s) 199-235 |
| 6 |
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| 7 | ----------------------------------------------------- |
| 8 | S C H E D U L E A M E N D M E N T |
| 9 | Remove line(s) 491-492 and insert: |
| 10 | providing for an additional alternative |
| 11 |
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| 12 | ----------------------------------------------------- |
| 13 | B A L L O T A M E N D M E N T |
| 14 | Remove line(s) 526-581 and insert: |
| 15 | specific circumstances, and (6) provides a $25,000 exemption for |
| 16 | tangible personal property. Further, this revision (7) requires |
| 17 | the Legislature to limit the authority of local governments |
| 18 | other than school districts to increase property taxes, and (8) |
| 19 | requires all county property appraisers or persons responsible |
| 20 | for the duties of a property appraiser in certain counties in |
| 21 | which the office of property appraiser has been abolished to be |
| 22 | elected. |
| 23 | In more detail, this revision: |
| 24 | (1) Provides for an additional homestead exemption equal |
| 25 | to 40 percent of the median just value of homestead property in |
| 26 | the county for the prior year for the portion of the assessed |
| 27 | value greater than $50,000. This exemption applies in any year |
| 28 | in which the amount of the exemption exceeds the amount of the |
| 29 | cumulative assessment limitation provided under Save Our Homes. |
| 30 | This exemption does not apply to school district levies. |
| 31 | (2) Provides for an additional homestead exemption for |
| 32 | certain low-income seniors. Persons 65 or older whose household |
| 33 | income is less than $23,604, adjusted annually for inflation, |
| 34 | are entitled to an additional alternative homestead exemption. |
| 35 | This exemption applies in any year in which the amount of the |
| 36 | exemption exceeds the amount of the cumulative assessment |
| 37 | limitation provided under Save Our Homes. This exemption does |
| 38 | not apply to school district levies. |
| 39 | (3) Provides for the transfer of cumulative Save-Our-Homes |
| 40 | benefits in a manner that does not affect school district |
| 41 | levies. Homestead property owners will be able to transfer their |
| 42 | Save-Our-Homes benefit to a new homestead within 2 years after |
| 43 | relinquishing their previous homestead; except, if the new |
| 44 | homestead is established on January 1, 2008, the previous |
| 45 | homestead must have been relinquished in 2007. If the new |
| 46 | homestead has a higher just value than the old one, the benefit |
| 47 | can be transferred; if the new homestead has a lower just value, |
| 48 | the amount of benefit transferred will be reduced in proportion |
| 49 | of the just value of the new homestead to the just value of the |
| 50 | old homestead. The transferred benefit may not exceed $1 |
| 51 | million. This provision does not apply to school district levies |
| 52 | on the new homestead. |
| 53 | (4) Provides for assessing certain rent-restricted |
| 54 | affordable housing property as provided by general law. This |
| 55 | provision does not apply to school district levies. |
| 56 | (5) Provides for assessing certain waterfront property |
| 57 | used for commercial fishing, commercial water-dependent |
| 58 | activities, and public access as provided by general law. This |
| 59 | provision does not apply to school district levies. |
| 60 | (6) Authorizes an exemption from ad valorem taxes of |
| 61 | $25,000 of assessed value of tangible personal property. This |
| 62 | provision applies to all tax levies. |
| 63 | (7) Requires the Legislature to limit the authority of |
| 64 | counties, municipalities, and special districts to increase ad |
| 65 | valorem taxes. |
| 66 | (8) Requires each county to elect a property appraiser or |
| 67 |
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| 68 | ----------------------------------------------------- |
| 69 | T I T L E A M E N D M E N T |
| 70 | Remove line(s) 618-620 and insert: |
| 71 | waterfront property by general law, to create an additional |
| 72 | alternative homestead |