CS/HB 355 - Property Taxation Summary

• Tolls the expiration period of tax certificates and statute of limitations during intervening bankruptcy proceedings under chapter 95 of Florida Statutes.

• Revises and consolidates Chapter 197, Florida Statutes (property tax collection procedures) regarding definitions, tax collector duties, tax liens, delinquent taxes, tax certificates, and tax deeds.

• Creates new property tax deferral programs for homestead property, recreational/commercial working waterfront property, and affordable rental housing with specific eligibility requirements and application procedures.

• Establishes authorization for purchase of county-held tax certificates at 1.5 percent monthly interest and creates electronic means for tax certificate sales and tax deed proceedings.

• Updates tax collector compensation, fees, and procedures including provisions for electronic collection, deposit requirements for tax certificate bidders, and procedures for handling dishonored payments.