Florida Senate - 2023                                    SB 1450
       
       
        
       By Senator Gruters
       
       
       
       
       
       22-00785-23                                           20231450__
    1                        A bill to be entitled                      
    2         An act relating to valuation of timeshare units;
    3         amending s. 192.037, F.S.; specifying the methodology
    4         by which certain timeshare units must be valued in
    5         certain tax appeals; providing that the methodology
    6         meets the constitutional mandate for just valuation;
    7         providing an effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Present subsection (12) of section 192.037,
   12  Florida Statutes, is redesignated as subsection (13), and a new
   13  subsection (12) is added to that section, to read:
   14         192.037 Fee timeshare real property; taxes and assessments;
   15  escrow.—
   16         (12) In all tax appeals regarding timeshare units in which
   17  the taxpayer asserts that there are an adequate number of
   18  resales to provide a basis for arriving at value conclusions,
   19  the number of resales shall be considered adequate when a
   20  reasonable number of resales are provided by the taxpayer and
   21  supported by the most recent standards adopted by the Uniform
   22  Standards of Professional Appraisal Practice. This methodology
   23  meets the requirement of just valuation of all real estate
   24  located in this state, including timeshare units, as recognized
   25  by and provided in s. 4, Art. VII of the State Constitution.
   26         Section 2. This act shall take effect July 1, 2023.