CS/HB 149 Summary

• Creates section 193.4613 of Florida Statutes to establish a new assessment methodology for land used in aquaculture production based solely on agricultural use.

• Property appraiser must use 5-year moving average data when applying the income methodology approach to assess aquaculture properties, rather than annual assessment data.

• Structures and equipment on aquaculture property used for production are considered part of average yield per acre and have no separate assessable value.

• Approved aquaculture assessments remain in effect for 10 years unless ownership or use changes, and property appraiser cannot require annual reapplication but may require annual audited financial statements.

• Effective date is January 1, 2023, and applies to all assessments made on or after that date.