Florida Senate - 2010 SB 2160 By Senator Storms 10-01757-10 20102160__ 1 A bill to be entitled 2 An act relating to real property assessment; creating 3 s. 193.1552, F.S.; providing legislative intent; 4 requiring property appraisers to adjust the assessed 5 value of certain properties affected by defective 6 building materials or construction techniques under 7 certain circumstances; providing for a nominal just 8 value of $0 under certain circumstances; providing for 9 application to certain properties; providing for 10 nonapplication to certain property owners; specifying 11 certain remediation or repair as not being a change or 12 improvement to property for certain purposes; 13 prohibiting consideration of homestead property as 14 abandoned under certain circumstances; providing for 15 assessment of certain property after completion of 16 remediation or repair; providing application; 17 providing an effective date. 18 19 Be It Enacted by the Legislature of the State of Florida: 20 21 Section 1. Section 193.1552, Florida Statutes, is created 22 to read: 23 193.1552 Assessment of properties affected by defective 24 building materials or construction techniques.— 25 (1) The Legislature intends to provide property tax relief 26 to property owners that discover, after purchase, that the 27 property was constructed using defective building materials or 28 construction techniques that have a significant negative impact 29 on the just value of their property and that include, but are 30 not limited to, tainted imported drywall. 31 (2) When a property appraiser determines that a property is 32 affected by defective building materials or construction 33 techniques and needs remediation to bring that property up to 34 current building standards, the property appraiser shall adjust 35 the assessed value of that property by taking into consideration 36 the presence of the defective material or construction technique 37 and the impact of that defect on the assessed value. If the 38 building is not marketable without remediation or repair, the 39 value of such remediation or repair shall be assessed at the 40 nominal just value of $0. 41 (3) This section applies only to properties in which: 42 (a) A defective building product or construction technique 43 was used in the construction of the property or an improvement 44 to the property. 45 (b) The defective product or construction technique has a 46 significant negative impact on the just value of the property or 47 improvement. 48 (c) The purchaser was unaware of the defective product or 49 construction technique at the time of purchase. 50 (4) This section does not apply to property owners who were 51 aware of the presence of a defective building material or 52 construction technique at the time of purchase. 53 (5) For the purpose of assessment limitations, remediation 54 or repair shall not be considered a change or improvement to the 55 property. 56 (6) Homestead property shall not be considered abandoned 57 when a homeowner vacates such property for the purpose of 58 remediation and repair under this section, provided the 59 homeowner does not establish a new homestead. 60 (7) Upon the substantial completion of remediation and 61 repairs, the property shall be assessed as if such defective 62 building materials or construction techniques had not been 63 present. 64 Section 2. This act shall take effect upon becoming a law, 65 and applies to the 2010 and subsequent assessment rolls.