Bill Text: FL S0460 | 2022 | Regular Session | Introduced

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Bill Title: Homestead Assessments Following a Change in Ownership

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2022-03-14 - Died in Community Affairs [S0460 Detail]

Download: Florida-2022-S0460-Introduced.html

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       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; or
   59         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.