FL H0281

Petitioners challenging assessed property values before value adjustment boards must pay 75 percent of ad valorem taxes before delinquency and all non-ad valorem assessments.

Petitioners challenging denial of classifications, exemptions, or substantial completion assessments must pay all non-ad valorem assessments and the amount of tax they admit in good faith owing before delinquency.

Value adjustment boards must deny petitions by written decision by April 20 if required tax payments are not timely made; a 10 percent annual penalty applies if good faith tax admissions are found grossly disproportionate to actual tax due.

Unpaid taxes accrue 12 percent annual interest from delinquency date, and overpaid amounts receive 12 percent annual interest refunds, excluding amounts exceeding 100 percent of current taxes due.

A 4 percent discount applies for 30 days after mailing corrected tax notices resulting from value adjustment board actions when issued before taxes become delinquent; the bill takes effect July 1, 2011.