FL H0417

Amends section 192.001, F.S. to define "fair market value" as the amount a willing buyer and seller would agree to in an arm's length transaction before adjustments to recorded selling prices.

Defines "just value" as the amount a willing buyer and seller would agree to in an arm's length transaction after adjustments to recorded selling prices and with proper consideration given to each statutory factor.

Defines "market value" as applied in chapter 200 to mean "just value" as defined in the bill.

Adds a new taxpayer right under section 192.0105 guaranteeing the right to value definitions based on actual assessment practices and applicable law applied consistently in both assessment development by property appraisers and assessment review by value adjustment boards and courts.

Takes effect July 1, 2015.