| 1 | Representative(s) Gibbons offered the following: |
| 2 |
|
| 3 | Amendment to Amendment (324095) (with ballot statement |
| 4 | amendment) |
| 5 | Remove lines 6-51 and insert: |
| 6 | district levies, levies of municipalities that have been in |
| 7 | existence for five years or less, and levies of municipal |
| 8 | service taxing units, special districts dependent to a county or |
| 9 | municipality, and independent special taxing districts, the |
| 10 | predominant function of which is to provide emergency medical or |
| 11 | fire rescue services, on the assessed valuation greater than |
| 12 | fifty thousand dollars and up to seventy-five thousand dollars, |
| 13 | upon establishment of right thereto in the manner prescribed by |
| 14 | law. The real estate may be held by legal or equitable title, |
| 15 | by the entireties, jointly, in common, as a condominium, or |
| 16 | indirectly by stock ownership or membership representing the |
| 17 | owner's or member's proprietary interest in a corporation owning |
| 18 | a fee or a leasehold initially in excess of ninety-eight years. |
| 19 | The exemption shall not apply with respect to any assessment |
| 20 | roll until such roll is first determined to be in compliance |
| 21 | with the provisions of Section 4 of this Article by a state |
| 22 | agency designated by general law. This exemption is repealed on |
| 23 | the effective date of any amendment to Section 4 of this Article |
| 24 | that provides for the assessment of homestead property at less |
| 25 | than just value. |
| 26 | (b) Not more than one exemption shall be allowed any |
| 27 | individual or family unit or with respect to any residential |
| 28 | unit. No exemption shall exceed the value of the real estate |
| 29 | assessable to the owner or, in case of ownership through stock |
| 30 | or membership in a corporation, the value of the proportion |
| 31 | which the interest in the corporation bears to the assessed |
| 32 | value of the property. |
| 33 | (c) As provided by general law and subject to conditions |
| 34 | specified therein, each person who establishes the right to |
| 35 | receive the homestead exemption provided in subsection (a) |
| 36 | within one year after purchasing the homestead property and who |
| 37 | had not previously owned property receiving the homestead |
| 38 | exemption provided in subsection (a) is entitled to an |
| 39 | additional homestead exemption in an amount equal to twenty-five |
| 40 | percent of the homestead property's just value on January 1 of |
| 41 | the year the homestead exemption is established, not to exceed |
| 42 | twenty-five percent of the median just value of homesteads in |
| 43 | the county in which the homestead is located in the year prior |
| 44 | to establishing the new homestead. This exemption is not |
| 45 | available if any owner of the property has previously owned |
| 46 | property that received the homestead exemption provided in |
| 47 | subsection (a). The additional homestead exemption shall be |
| 48 | reduced each year by the difference between the homestead's just |
| 49 | value and assessed value as determined under subsection (c) of |
| 50 | Section 4 of this Article until the value of the exemption is |
| 51 | reduced to zero. The exemption provided under this subsection |
| 52 | shall apply to all levies other than school district levies, |
| 53 | levies of municipalities that have been in existence for five |
| 54 | years or less, and |
| 55 |
|
| 56 | == B A L L O T S T A T E M E N T A M E N D M E N T == |
| 57 | Remove line(s) 315-315 and insert: |
| 58 | This exemption does not apply to school district levies, levies |
| 59 | of municipalities that have been in existence for five years or |
| 60 | less, or levies of municipal service taxing units, special |
| 61 | districts |