This bill proposes a prohibition on levying ad valorem taxes on tangible personal property by counties, school districts, and municipalities in Florida, aligning with proposed amendments to the State Constitution. It amends several sections of Florida Statutes, including ss. 166.131, 166.211, and 192.001, to remove references to tangible personal property in the context of ad valorem taxation. The bill also repeals multiple sections related to the assessment and filing of tangible personal property tax returns, such as s. 193.016 and s. 193.063, effectively eliminating the framework for taxing tangible personal property. Additionally, it introduces new definitions and clarifications regarding exemptions from ad valorem taxation, particularly for affordable housing and economic development initiatives.

Furthermore, the bill streamlines the property assessment process by clarifying that real property will be assessed based on its just value as of January 1 each year, with no value assigned to improvements that are not substantially completed by that date. It allows tax collectors to accept partial payments for current taxes on real property and updates the method for fixing millage rates. The bill also introduces a tax exemption for building materials used in the construction of affordable housing units, allowing owners to receive refunds for previously paid taxes on these materials, with specific application requirements. Overall, the bill aims to enhance clarity and efficiency in property tax assessment and appeals processes in Florida while ensuring compliance with the new constitutional framework.

Statutes affected:
S 552 Filed: 166.131, 166.211, 192.032, 192.042, 192.091, 193.016, 193.062, 193.063, 193.073, 194.011, 194.013, 194.034, 194.037, 195.027, 195.073, 195.101, 196.011, 196.012, 196.021, 196.182, 196.183, 196.192, 196.19782, 197.146, 197.343, 197.374, 197.412, 200.065