Bill Text: FL S1086 | 2015 | Regular Session | Introduced

---

Bill Title: Property Tax Exemptions

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2015-05-01 - Died in Community Affairs [S1086 Detail]

Download: Florida-2015-S1086-Introduced.html

---

       Florida Senate - 2015                                    SB 1086
       
       
        
       By Senator Ring
       
       
       
       
       
       29-01263-15                                           20151086__
    1                        A bill to be entitled                      
    2         An act relating to property tax exemptions; amending
    3         s. 193.1555, F.S.; prohibiting consideration during a
    4         specified period of the increased value from additions
    5         or improvements made to certain business property when
    6         assessing property taxes; amending s. 196.183, F.S.;
    7         providing an exemption from property taxation for
    8         machinery and equipment purchased by certain
    9         businesses for a specified period following purchase;
   10         providing for assessment of such machinery and
   11         equipment upon expiration of the exemption; conforming
   12         cross-references; providing an effective date.
   13          
   14  Be It Enacted by the Legislature of the State of Florida:
   15  
   16         Section 1. Paragraph (a) of subsection (6) of section
   17  193.1555, Florida Statutes, is amended, and paragraph (c) is
   18  added to that subsection, to read:
   19         193.1555 Assessment of certain residential and
   20  nonresidential real property.—
   21         (6)(a) Except as provided in paragraphs paragraph (b) and
   22  (c), changes, additions, or improvements to nonresidential real
   23  property shall be assessed at just value as of the first January
   24  1 after the changes, additions, or improvements are
   25  substantially completed.
   26         (c) Additions or improvements to a business property that
   27  are made as a result of technological or production advances
   28  within that business or are made to meet new regulatory
   29  requirements shall not increase the property’s assessed value
   30  for a period of 10 years if the additions or improvements are
   31  made to a business located at the same location for at least the
   32  previous 20 years.
   33         Section 2. Present subsections (2) through (6) of section
   34  196.183, Florida Statutes, are renumbered as subsections (3)
   35  through (7), respectively, subsection (1) of that section is
   36  republished, a new subsection (2) is added to that section, and
   37  present subsection (5) of that section is amended, to read:
   38         196.183 Exemption for tangible personal property.—
   39         (1) Each tangible personal property tax return is eligible
   40  for an exemption from ad valorem taxation of up to $25,000 of
   41  assessed value. A single return must be filed for each site in
   42  the county where the owner of tangible personal property
   43  transacts business. Owners of freestanding property placed at
   44  multiple sites, other than sites where the owner transacts
   45  business, must file a single return, including all such property
   46  located in the county. Freestanding property placed at multiple
   47  sites includes vending and amusement machines, LP/propane tanks,
   48  utility and cable company property, billboards, leased
   49  equipment, and similar property that is not customarily located
   50  in the offices, stores, or plants of the owner, but is placed
   51  throughout the county. Railroads, private carriers, and other
   52  companies assessed pursuant to s. 193.085 shall be allowed one
   53  $25,000 exemption for each county to which the value of their
   54  property is allocated. The $25,000 exemption for freestanding
   55  property placed at multiple locations and for centrally assessed
   56  property shall be allocated to each taxing authority based on
   57  the proportion of just value of such property located in the
   58  taxing authority; however, the amount of the exemption allocated
   59  to each taxing authority may not change following the extension
   60  of the tax roll pursuant to s. 193.122.
   61         (2) In addition to the exemption provided in subsection
   62  (1), an owner who has conducted a business at the same site for
   63  at least the previous 20 years is exempt from the payment of
   64  tangible personal property taxes for new equipment or machinery
   65  purchased as a result of technological or production advances in
   66  that line of business or purchased to meet new regulatory
   67  requirements. This exemption applies for 10 years beginning with
   68  the tax year following the purchase. After this exemption
   69  expires, the equipment and machinery shall be assessed based on
   70  their depreciated fair market value.
   71         (6)(5) The exemption provided in this section does not
   72  apply in any year a taxpayer fails to timely file a return that
   73  is not waived pursuant to subsection (4) (3) or subsection (5)
   74  (4). Any taxpayer who received a waiver pursuant to subsection
   75  (4) (3) or subsection (5) (4) and who owns taxable property the
   76  value of which, as listed on the return, exceeds the exemption
   77  in a subsequent year and who fails to file a return with the
   78  property appraiser is subject to the penalty contained in s.
   79  193.072(1)(a) calculated without the benefit of the exemption
   80  pursuant to this section. Any taxpayer claiming more exemptions
   81  than allowed pursuant to subsection (1) is subject to the taxes
   82  exempted as a result of wrongfully claiming the additional
   83  exemptions plus 15 percent interest per annum and a penalty of
   84  50 percent of the taxes exempted. By February 1 of each year,
   85  the property appraiser shall notify by mail all taxpayers whose
   86  requirement for filing an annual tangible personal property tax
   87  return was waived in the previous year. The notification shall
   88  state that a return must be filed if the value of the taxpayer’s
   89  tangible personal property exceeds the exemption and include the
   90  penalties for failure to file such a return.
   91         Section 3. This act shall take effect July 1, 2015.