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A bill to be entitled

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An act relating to the assessed value of real property;

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providing for rolling back the assessed value of real

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property to the value of the same or similar property as

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of a certain date; providing for adjusting such value from

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such date to the present by certain factors; providing an

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effective date.

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Be It Enacted by the Legislature of the State of Florida:

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     Section 1. (1) Effective January 1, 2009, notwithstanding

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any other provision of law, the assessed value of real property

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in this state shall be rolled back to the assessed value for the

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same or similar property in the same county for 2002 and the

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assessments shall be adjusted for each subsequent year as if the

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limitations on assessments contained in s. 4, Art. VII of the

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State Constitution had been continuously in effect since January

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1, 2003, and had been applied in each subsequent year. The

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assessed value for 2010 and all subsequent years shall be

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adjusted pursuant to the provisions of s. 4, Art. VII of the

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State Constitution.

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     (2) Subsection (1) does not apply to ad valorem taxes

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levied for the payment of bonds issued pursuant to s. 12, Art.

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VII of the State Constitution or levied for periods not longer

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than 2 years when authorized by a vote of the electors.

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     Section 2.  This act shall take effect upon becoming a law.