Florida Senate - 2016                              CS for SB 488
       
       
        
       By the Committee on Community Affairs; and Senator Flores
       
       
       
       
       
       578-01295-16                                           2016488c1
    1                        A bill to be entitled                      
    2         An act relating to a county and municipality homestead
    3         tax exemption; amending s. 196.075, F.S.; revising the
    4         homestead tax exemption that may be adopted by a
    5         county or municipality by ordinance for the assessed
    6         value of property with a just value less than $250,000
    7         which is owned by persons age 65 or older who meet
    8         certain residence and income requirements; specifying
    9         that just value shall be determined at the time of the
   10         owner’s initial application for the exemption;
   11         providing a contingent effective date.
   12          
   13  Be It Enacted by the Legislature of the State of Florida:
   14  
   15         Section 1. Subsection (2) of section 196.075, Florida
   16  Statutes, is amended to read:
   17         196.075 Additional homestead exemption for persons 65 and
   18  older.—
   19         (2) In accordance with s. 6(d), Art. VII of the State
   20  Constitution, the board of county commissioners of any county or
   21  the governing authority of any municipality may adopt an
   22  ordinance to allow either or both of the following additional
   23  homestead exemptions:
   24         (a) Up to $50,000 for a any person who has the legal or
   25  equitable title to real estate and maintains thereon the
   26  permanent residence of the owner, who has attained age 65, and
   27  whose household income does not exceed $20,000.; or
   28         (b) The amount of the assessed value of the property for a
   29  any person who has the legal or equitable title to real estate
   30  with a just value less than $250,000, as determined at the time
   31  of the owner’s initial application for the exemption, and who
   32  has maintained thereon the permanent residence of the owner for
   33  at least 25 years, who has attained age 65, and whose household
   34  income does not exceed the income limitation prescribed in
   35  paragraph (a), as calculated in subsection (3).
   36         Section 2. This act shall take effect on the same date that
   37  SJR 492 or a similar joint resolution having substantially the
   38  same specific intent and purpose takes effect, if such joint
   39  resolution is approved by the electors at the general election
   40  to be held in November 2016 or at an earlier special election
   41  specifically authorized by law for that purpose.