| 1 | A bill to be entitled |
| 2 | An act relating to real property assessment; creating s. |
| 3 | 193.1552, F.S.; providing a definition; requiring property |
| 4 | appraisers to adjust the assessed value of certain |
| 5 | properties affected by imported drywall under certain |
| 6 | circumstances; providing for a nominal just value of $0 |
| 7 | under certain circumstances; providing for application to |
| 8 | certain properties; providing for nonapplication to |
| 9 | certain property owners; specifying homestead property as |
| 10 | damaged for certain purposes; prohibiting consideration of |
| 11 | homestead property as abandoned under certain |
| 12 | circumstances; providing for assessment of certain |
| 13 | property after completion of remediation or repair; |
| 14 | providing application; providing for future repeal unless |
| 15 | reviewed and reenacted; providing an effective date. |
| 16 |
|
| 17 | Be It Enacted by the Legislature of the State of Florida: |
| 18 |
|
| 19 | Section 1. Section 193.1552, Florida Statutes, is created |
| 20 | to read: |
| 21 | 193.1552 Assessment of properties affected by imported or |
| 22 | domestic drywall.- |
| 23 | (1) As used in this section, the term "imported or |
| 24 | domestic drywall" means drywall that contains elevated levels of |
| 25 | elemental sulfur that results in corrosion of certain metals. |
| 26 | (2) When a property appraiser determines that a single- |
| 27 | family residential property is affected by imported or domestic |
| 28 | drywall and needs remediation to bring that property up to |
| 29 | current building standards, the property appraiser shall adjust |
| 30 | the assessed value of that property by taking into consideration |
| 31 | the presence of the imported or domestic drywall and the impact |
| 32 | of such drywall on the assessed value. If the building cannot be |
| 33 | used for its intended purpose without remediation or repair, the |
| 34 | value of such building shall be assessed at the nominal just |
| 35 | value of $0. |
| 36 | (3) This section applies only to properties in which: |
| 37 | (a) Imported or domestic drywall was used in the |
| 38 | construction of the property or an improvement to the property. |
| 39 | (b) The imported or domestic drywall has a significant |
| 40 | negative impact on the just value of the property or |
| 41 | improvement. |
| 42 | (c) The purchaser was unaware of the imported or domestic |
| 43 | drywall at the time of purchase. |
| 44 | (4) This section does not apply to property owners who |
| 45 | were aware of the presence of imported or domestic drywall at |
| 46 | the time of purchase. |
| 47 | (5) Homestead property to which this section applies shall |
| 48 | be considered damaged by misfortune or calamity under s. |
| 49 | 193.155(4)(b), except that the 3-year deadline does not apply. |
| 50 | (6) Homestead property shall not be considered abandoned |
| 51 | when a homeowner vacates such property for the purpose of |
| 52 | remediation and repair under this section, provided the |
| 53 | homeowner does not establish a new homestead. |
| 54 | (7) Upon the substantial completion of remediation and |
| 55 | repairs, the property shall be assessed as if such imported or |
| 56 | domestic drywall had not been present. |
| 57 | (8) This section is repealed July 1, 2017, unless reviewed |
| 58 | and reenacted by the Legislature on or before that date. |
| 59 | Section 2. This act shall take effect upon becoming a law |
| 60 | and shall apply to the 2010 and subsequent assessment rolls. |