FL S1408

Creates s. 193.704, F.S. to establish a working waterfront property classification system with definitions for eligible properties including commercial fishing operations, marinas, drystacks, marine manufacturing/repair facilities, and water-dependent facilities in certain counties.

Requires working waterfront properties to be assessed based on current use using either the income approach to value (if adequate comparable data exists) or present cash value as if required to remain in current use, with assessed value not exceeding just value.

Mandates property owners file applications by March 1 annually with the property appraiser for classification, with provisions allowing late filing by July 1 if extenuating circumstances exist; counties may waive annual application requirements by majority vote.

Establishes penalty of 50 percent of additional taxes owed plus 15 percent annual interest (up to 10 years) for property owners who fail to notify the appraiser of changes in use or ownership that eliminate eligibility, with ability to record tax liens against the owner's property in any county; penalty may be waived if owner exercised reasonable care.

Provides appeal process through the value adjustment board (with $15 filing fee) for denied applications, and amends s. 380.5105 to establish new program objectives for the Stan Mayfield Working Waterfronts Program and Florida Forever Program focused on preservation of commercial fishing, marine, and aquaculture industries.