The bill amends Florida Statutes concerning the assessment of homestead properties, specifically section 193.155, by establishing that these properties will be assessed based on the most recent purchase price or the cost of construction for new builds, rather than the previous just value method. It outlines that annual reassessments will rely on the prior assessed value or a specified calculation, and any changes or improvements to the property will be assessed at their documented costs. Additionally, section 194.011 is amended to align with these changes, and the Department of Revenue is authorized to create a grant program and adopt necessary rules to support local governments affected by these changes.

Furthermore, the bill modifies the process for transferring homestead property assessment limitations between counties by removing certain procedural requirements for property appraisers, such as the need to return information about previous homesteads by specific deadlines. It emphasizes the importance of sharing information and correcting assessments based on received data, while also allowing taxpayers to seek legal recourse if necessary information is not provided. The bill streamlines the appeal process for taxpayers relocating their homestead by eliminating the requirement for the new county's value adjustment board to wait for decisions from the previous county's board. Overall, the legislation aims to simplify the assessment process and enhance taxpayer awareness of their rights and responsibilities.

Statutes affected:
S 1092 Filed: 193.155