| 1 | A bill to be entitled |
| 2 | An act relating to real property assessment; creating s. |
| 3 | 193.1552, F.S.; providing legislative intent; requiring |
| 4 | property appraisers to adjust the assessed value of |
| 5 | certain properties affected by tainted imported drywall |
| 6 | under certain circumstances; providing for a nominal just |
| 7 | value of $0 under certain circumstances; providing for |
| 8 | application to certain properties; providing for |
| 9 | nonapplication to certain property owners; specifying |
| 10 | certain remediation or repair as not being a change or |
| 11 | improvement to property for certain purposes; prohibiting |
| 12 | consideration of homestead property as abandoned under |
| 13 | certain circumstances; providing for assessment of certain |
| 14 | property after completion of remediation or repair; |
| 15 | providing application; providing for future repeal unless |
| 16 | reviewed and reenacted; providing an effective date. |
| 17 |
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| 18 | Be It Enacted by the Legislature of the State of Florida: |
| 19 |
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| 20 | Section 1. Section 193.1552, Florida Statutes, is created |
| 21 | to read: |
| 22 | 193.1552 Assessment of properties affected by tainted |
| 23 | imported drywall.- |
| 24 | (1) The Legislature intends to provide property tax relief |
| 25 | to property owners who discover, after purchase, that the |
| 26 | property was constructed using tainted imported drywall that has |
| 27 | a significant negative impact on the just value of their |
| 28 | property. |
| 29 | (2) When a property appraiser determines that a property |
| 30 | is affected by tainted imported drywall and needs remediation to |
| 31 | bring that property up to current building standards, the |
| 32 | property appraiser shall adjust the assessed value of that |
| 33 | property by taking into consideration the presence of the |
| 34 | tainted imported drywall and the impact of such drywall on the |
| 35 | assessed value. If the building is not marketable without |
| 36 | remediation or repair, the value of such building shall be |
| 37 | assessed at the nominal just value of $0. |
| 38 | (3) This section applies only to properties in which: |
| 39 | (a) Tainted imported drywall was used in the construction |
| 40 | of the property or an improvement to the property. |
| 41 | (b) The tainted imported drywall has a significant |
| 42 | negative impact on the just value of the property or |
| 43 | improvement. |
| 44 | (c) The purchaser was unaware of the tainted imported |
| 45 | drywall at the time of purchase. |
| 46 | (4) This section does not apply to property owners who |
| 47 | were aware of the presence of tainted imported drywall at the |
| 48 | time of purchase. |
| 49 | (5) For the purpose of assessment limitations, remediation |
| 50 | or repair shall not be considered a change or improvement to the |
| 51 | property. |
| 52 | (6) Homestead property shall not be considered abandoned |
| 53 | when a homeowner vacates such property for the purpose of |
| 54 | remediation and repair under this section, provided the |
| 55 | homeowner does not establish a new homestead. |
| 56 | (7) Upon the substantial completion of remediation and |
| 57 | repairs, the property shall be assessed as if such tainted |
| 58 | imported drywall had not been present. |
| 59 | (8) This section is repealed July 1, 2017, unless reviewed |
| 60 | and reenacted by the Legislature on or before that date. |
| 61 | Section 2. This act shall take effect upon becoming a law |
| 62 | and shall apply to the 2010 and subsequent assessment rolls. |