Florida Senate - 2022 SB 460 By Senator Rodriguez 39-00599-22 2022460__ 1 A bill to be entitled 2 An act relating to homestead assessments following a 3 change in ownership; amending s. 193.155, F.S.; 4 providing that the transfer of property to a child or 5 grandchild under certain conditions is not considered 6 a change of ownership; specifying procedures for 7 establishing qualification for a homestead exemption 8 under such conditions; providing applicability; 9 providing an effective date. 10 11 Be It Enacted by the Legislature of the State of Florida: 12 13 Section 1. Paragraph (a) of subsection (3) of section 14 193.155, Florida Statutes, is amended to read: 15 193.155 Homestead assessments.—Homestead property shall be 16 assessed at just value as of January 1, 1994. Property receiving 17 the homestead exemption after January 1, 1994, shall be assessed 18 at just value as of January 1 of the year in which the property 19 receives the exemption unless the provisions of subsection (8) 20 apply. 21 (3)(a) Except as provided in this subsection or subsection 22 (8), property assessed under this section shall be assessed at 23 just value as of January 1 of the year following a change of 24 ownership. Thereafter, the annual changes in the assessed value 25 of the property are subject to the limitations in subsections 26 (1) and (2). For the purpose of this section, a change of 27 ownership means any sale, foreclosure, or transfer of legal 28 title or beneficial title in equity to any person, except if any 29 of the following apply: 30 1. Subsequent to the change or transfer, the same person is 31 entitled to the homestead exemption as was previously entitled 32 and: 33 a. The transfer of title is to correct an error; 34 b. The transfer is between legal and equitable title or 35 equitable and equitable title and no additional person applies 36 for a homestead exemption on the property; 37 c. The change or transfer is by means of an instrument in 38 which the owner is listed as both grantor and grantee of the 39 real property and one or more other individuals are additionally 40 named as grantee. However, if any individual who is additionally 41 named as a grantee applies for a homestead exemption on the 42 property, the application is considered a change of ownership; 43 d. The change or transfer is by means of an instrument in 44 which the owner entitled to the homestead exemption is listed as 45 both grantor and grantee of the real property and one or more 46 other individuals, all of whom held title as joint tenants with 47 rights of survivorship with the owner, are named only as 48 grantors and are removed from the title; or 49 e. The person is a lessee entitled to the homestead 50 exemption under s. 196.041(1); 51 2. Legal or equitable title is changed or transferred 52 between husband and wife, including a change or transfer to a 53 surviving spouse or a transfer due to a dissolution of marriage; 54 3. The transfer occurs by operation of law to the surviving 55 spouse or minor child or children under s. 732.401; 56 4. Upon the death of the owner, the transfer is between the 57 owner and another who is a permanent resident and who is legally 58 or naturally dependent upon the owner;
or59 5. Upon the death of the owner, the transfer is between the 60 owner and a child or grandchild of the owner, and the child or 61 grandchild who inherits the property qualifies for a homestead 62 exemption on such property. For purposes of establishing 63 qualification for a homestead exemption for such property under 64 this subparagraph, and notwithstanding any other provision of 65 law, the child or grandchild who inherits the property has until 66 March 1 of the year following the transfer to in good faith make 67 the property his or her permanent residence. This subparagraph 68 only applies to properties with a just value of less than $1 69 million as of the January 1 immediately preceding the transfer 70 of the property; or 71 6. The transfer occurs with respect to a property where all 72 of the following apply: 73 a. Multiple owners hold title as joint tenants with rights 74 of survivorship; 75 b. One or more owners were entitled to and received the 76 homestead exemption on the property; 77 c. The death of one or more owners occurs; and 78 d. Subsequent to the transfer, the surviving owner or 79 owners previously entitled to and receiving the homestead 80 exemption continue to be entitled to and receive the homestead 81 exemption. 82 Section 2. This act shall take effect July 1, 2022.