| 1 | A bill to be entitled |
| 2 | An act relating to homestead assessments; amending s. |
| 3 | 193.155, F.S.; revising criteria under which transfer of |
| 4 | homestead property is not considered a change of |
| 5 | ownership; providing construction; providing an effective |
| 6 | date. |
| 7 |
|
| 8 | Be It Enacted by the Legislature of the State of Florida: |
| 9 |
|
| 10 | Section 1. Subsection (3) of section 193.155, Florida |
| 11 | Statutes, is amended to read: |
| 12 | 193.155 Homestead assessments.-Homestead property shall be |
| 13 | assessed at just value as of January 1, 1994. Property receiving |
| 14 | the homestead exemption after January 1, 1994, shall be assessed |
| 15 | at just value as of January 1 of the year in which the property |
| 16 | receives the exemption unless the provisions of subsection (8) |
| 17 | apply. |
| 18 | (3)(a) Except as provided in this subsection or subsection |
| 19 | (8), property assessed under this section shall be assessed at |
| 20 | just value as of January 1 of the year following a change of |
| 21 | ownership. Thereafter, the annual changes in the assessed value |
| 22 | of the property are subject to the limitations in subsections |
| 23 | (1) and (2). For the purpose of this section, a change of |
| 24 | ownership means any sale, foreclosure, or transfer of legal |
| 25 | title or beneficial title in equity to any person, except as |
| 26 | provided in this subsection. There is no change of ownership if: |
| 27 | 1.(a) Subsequent to the change or transfer, the same |
| 28 | person is entitled to the homestead exemption as was previously |
| 29 | entitled and: |
| 30 | a.1. The transfer of title is to correct an error; |
| 31 | b.2. The transfer is between legal and equitable title or |
| 32 | equitable and equitable title and no additional person applies |
| 33 | for a homestead exemption on the property; or |
| 34 | c.3. The change or transfer is by means of an instrument |
| 35 | in which the owner is listed as both grantor and grantee of the |
| 36 | real property and one or more other individuals are additionally |
| 37 | named as grantee. However, if any individual who is additionally |
| 38 | named as a grantee applies for a homestead exemption on the |
| 39 | property, the application shall be considered a change of |
| 40 | ownership; |
| 41 | 2.(b) Legal or equitable title is changed or transferred |
| 42 | The transfer is between husband and wife, including a change or |
| 43 | transfer to a surviving spouse or a transfer due to a |
| 44 | dissolution of marriage; |
| 45 | 3.(c) The transfer occurs by operation of law to the |
| 46 | surviving spouse or minor child or children under s. 732.401 |
| 47 | 732.4015; or |
| 48 | 4.(d) Upon the death of the owner, the transfer is between |
| 49 | the owner and another who is a permanent resident and is legally |
| 50 | or naturally dependent upon the owner. |
| 51 | (b) For purposes of this subsection, a leasehold interest |
| 52 | that qualifies for the homestead exemption under s. 196.031 or |
| 53 | s. 196.041 shall be treated as an equitable interest in the |
| 54 | property. |
| 55 | Section 2. This act shall take effect July 1, 2010. |