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FL S0516
Bill
AI Summary
- Amends Florida Statute 193.461 to require that structures and equipment used in the production of aquaculture products be assessed using the income methodology approach, the same method applied to other agricultural properties such as irrigation systems, poultry farms, and horticultural structures
- Under the income methodology, agricultural structures and equipment are considered part of average yields per acre and have no separately assessable contributory value
- Allows aquaculture property owners to request removal of their agriculture classification if the tax assessed under the income methodology exceeds the tax that would be assessed based on the value of the structures and equipment alone
- Effective date of July 1, 2021
- Sponsored by Senator Rodriguez in the Florida Senate
Legislative Description
Taxation of Property Used for Agriculture Purposes
Last Action
Died in Agriculture
4/30/2021
Committee Referrals
Agriculture1/21/2021
Full Bill Text
No bill text available