Amendment
Bill No. 0002D
Amendment No. 712137
CHAMBER ACTION
Senate House
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1Representative(s) Cannon and Kravitz offered the following:
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3     Amendment to Amendment (749169) (with directory, schedule,
4ballot, and title amendments)
5     Remove line(s) 358-384
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D I R E C T O R Y  A M E N D M E N T
8     Remove line(s) 5 and insert:
9     That the following amendments to Sections 3, 4, and 6 of
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S C H E D U L E  A M E N D M E N T
12     Remove line(s) 486-498 and insert:
13limitations.--The amendments to Sections 3, 4, and 6 of Article
14VII providing a $25,000 exemption for tangible personal
15property, providing an additional alternative homestead
16exemption, authorizing transfer of the cumulative benefit from
17the limitations on the assessment of homestead property,
18creating a limitation on annual assessment increases for
19specified real property, providing for an additional alternative
20homestead exemption for low-income seniors, and providing for
21assessing rent-restricted affordable housing and commercial and
22public-access waterfront property pursuant to general law, and
23the creation of Section 27 of this Article providing
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B A L L O T  A M E N D M E N T
27     Remove line(s) 511-581 and insert:
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ARTICLE VII, SECTIONS 3, 4, AND 6
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ARTICLE VIII, SECTION 1
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ARTICLE XII, SECTIONS 27 AND 28
31     PROPERTY TAX EXEMPTIONS; LIMITATIONS ON AD VALOREM TAX
32INCREASES; ELECTED PROPERTY APPRAISERS.--This revision proposes
33changes to the State Constitution relating to ad valorem
34taxation and elected property appraisers. With respect to
35homestead property, this revision: (1) provides for an
36additional alternative homestead exemption for most homeowners,
37(2) provides for an additional alternative homestead exemption
38for low-income seniors, and (3) provides for the transfer of
39Save-Our-Homes benefits that are not related to school district
40levies. With respect to nonhomestead property, this revision
41allows the Legislature to provide by law for the assessment of
42(4) affordable housing and (5) certain waterfront property under
43specific circumstances, (6) provides a $25,000 exemption for
44tangible personal property, and (7) provides for limitations on
45assessment increases for real property that is not homestead
46property. Further, this revision (8) requires all county
47property appraisers or persons responsible for the duties of a
48property appraiser in certain counties in which the office of
49property appraiser has been abolished to be elected.
50     In more detail, this revision:
51     (1)  Provides for an additional homestead exemption equal
52to 40 percent of the median just value of homestead property in
53the county for the prior year for the portion of the assessed
54value greater than $50,000. This exemption applies in any year
55in which the amount of the exemption exceeds the amount of the
56cumulative assessment limitation provided under Save Our Homes.
57This exemption does not apply to school district levies.
58     (2)  Provides for an additional homestead exemption for
59certain low-income seniors. Persons 65 or older whose household
60income is less than $23,604, adjusted annually for inflation,
61are entitled to an additional alternative homestead exemption.
62This exemption applies in any year in which the amount of the
63exemption exceeds the amount of the cumulative assessment
64limitation provided under Save Our Homes. This exemption does
65not apply to school district levies.
66     (3)  Provides for the transfer of cumulative Save-Our-Homes
67benefits in a manner that does not affect school district
68levies. Homestead property owners will be able to transfer their
69Save-Our-Homes benefit to a new homestead within 2 years after
70relinquishing their previous homestead; except, if the new
71homestead is established on January 1, 2008, the previous
72homestead must have been relinquished in 2007. If the new
73homestead has a higher just value than the old one, the benefit
74can be transferred; if the new homestead has a lower just value,
75the amount of benefit transferred will be reduced in proportion
76of the just value of the new homestead to the just value of the
77old homestead. The transferred benefit may not exceed $1
78million. This provision does not apply to school district levies
79on the new homestead.
80     (4)  Provides for assessing certain rent-restricted
81affordable housing property as provided by general law. This
82provision does not apply to school district levies.
83     (5)  Provides for assessing certain waterfront property
84used for commercial fishing, commercial water-dependent
85activities, and public access as provided by general law. This
86provision does not apply to school district levies.
87     (6)  Authorizes an exemption from ad valorem taxes of
88$25,000 of assessed value of tangible personal property. This
89provision applies to all tax levies.
90     (7)  Creates a limitation on assessment increases for
91specified real property that is not entitled to the homestead
92exemption.
93     (8)  Requires each county to elect a property appraiser or
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T I T L E  A M E N D M E N T
97     Remove line(s) 622-624 and insert:
98homestead exemption for low-income seniors, to


CODING: Words stricken are deletions; words underlined are additions.