CS for SB 478 - Property Taxation Summary

• Tolls the expiration period of tax certificates and statute of limitations for tax proceedings during intervening bankruptcy periods (amends s. 95.051, F.S.)

• Consolidates and revises Chapter 197, F.S. provisions relating to tax definitions, tax collectors' duties, tax liens, delinquent taxes, tax certificates, tax deeds, and tax sales procedures

• Creates new property tax deferral programs for homestead property, recreational and commercial working waterfront property, and affordable rental housing, with applications due by March 31 and approval within 45 days by tax collectors

• Authorizes county tax collectors to issue certificates of correction for uncollectable personal property tax accounts and establishes procedures for purchase of county-held tax certificates at 1.5 percent monthly interest

• Increases minimum thresholds for homestead tax certificate sales from $100 to $250 in delinquent taxes and modifies tax certificate sale procedures to allow electronic bidding with proxy bidding capabilities