Florida Senate - 2015 SB 1086
By Senator Ring
29-01263-15 20151086__
1 A bill to be entitled
2 An act relating to property tax exemptions; amending
3 s. 193.1555, F.S.; prohibiting consideration during a
4 specified period of the increased value from additions
5 or improvements made to certain business property when
6 assessing property taxes; amending s. 196.183, F.S.;
7 providing an exemption from property taxation for
8 machinery and equipment purchased by certain
9 businesses for a specified period following purchase;
10 providing for assessment of such machinery and
11 equipment upon expiration of the exemption; conforming
12 cross-references; providing an effective date.
13
14 Be It Enacted by the Legislature of the State of Florida:
15
16 Section 1. Paragraph (a) of subsection (6) of section
17 193.1555, Florida Statutes, is amended, and paragraph (c) is
18 added to that subsection, to read:
19 193.1555 Assessment of certain residential and
20 nonresidential real property.—
21 (6)(a) Except as provided in paragraphs paragraph (b) and
22 (c), changes, additions, or improvements to nonresidential real
23 property shall be assessed at just value as of the first January
24 1 after the changes, additions, or improvements are
25 substantially completed.
26 (c) Additions or improvements to a business property that
27 are made as a result of technological or production advances
28 within that business or are made to meet new regulatory
29 requirements shall not increase the property’s assessed value
30 for a period of 10 years if the additions or improvements are
31 made to a business located at the same location for at least the
32 previous 20 years.
33 Section 2. Present subsections (2) through (6) of section
34 196.183, Florida Statutes, are renumbered as subsections (3)
35 through (7), respectively, subsection (1) of that section is
36 republished, a new subsection (2) is added to that section, and
37 present subsection (5) of that section is amended, to read:
38 196.183 Exemption for tangible personal property.—
39 (1) Each tangible personal property tax return is eligible
40 for an exemption from ad valorem taxation of up to $25,000 of
41 assessed value. A single return must be filed for each site in
42 the county where the owner of tangible personal property
43 transacts business. Owners of freestanding property placed at
44 multiple sites, other than sites where the owner transacts
45 business, must file a single return, including all such property
46 located in the county. Freestanding property placed at multiple
47 sites includes vending and amusement machines, LP/propane tanks,
48 utility and cable company property, billboards, leased
49 equipment, and similar property that is not customarily located
50 in the offices, stores, or plants of the owner, but is placed
51 throughout the county. Railroads, private carriers, and other
52 companies assessed pursuant to s. 193.085 shall be allowed one
53 $25,000 exemption for each county to which the value of their
54 property is allocated. The $25,000 exemption for freestanding
55 property placed at multiple locations and for centrally assessed
56 property shall be allocated to each taxing authority based on
57 the proportion of just value of such property located in the
58 taxing authority; however, the amount of the exemption allocated
59 to each taxing authority may not change following the extension
60 of the tax roll pursuant to s. 193.122.
61 (2) In addition to the exemption provided in subsection
62 (1), an owner who has conducted a business at the same site for
63 at least the previous 20 years is exempt from the payment of
64 tangible personal property taxes for new equipment or machinery
65 purchased as a result of technological or production advances in
66 that line of business or purchased to meet new regulatory
67 requirements. This exemption applies for 10 years beginning with
68 the tax year following the purchase. After this exemption
69 expires, the equipment and machinery shall be assessed based on
70 their depreciated fair market value.
71 (6)(5) The exemption provided in this section does not
72 apply in any year a taxpayer fails to timely file a return that
73 is not waived pursuant to subsection (4) (3) or subsection (5)
74 (4). Any taxpayer who received a waiver pursuant to subsection
75 (4) (3) or subsection (5) (4) and who owns taxable property the
76 value of which, as listed on the return, exceeds the exemption
77 in a subsequent year and who fails to file a return with the
78 property appraiser is subject to the penalty contained in s.
79 193.072(1)(a) calculated without the benefit of the exemption
80 pursuant to this section. Any taxpayer claiming more exemptions
81 than allowed pursuant to subsection (1) is subject to the taxes
82 exempted as a result of wrongfully claiming the additional
83 exemptions plus 15 percent interest per annum and a penalty of
84 50 percent of the taxes exempted. By February 1 of each year,
85 the property appraiser shall notify by mail all taxpayers whose
86 requirement for filing an annual tangible personal property tax
87 return was waived in the previous year. The notification shall
88 state that a return must be filed if the value of the taxpayer’s
89 tangible personal property exceeds the exemption and include the
90 penalties for failure to file such a return.
91 Section 3. This act shall take effect July 1, 2015.