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FL H0471

Bill

Official Source

Status

Failed

3/8/2024

Primary Sponsor

Randy Fine

Click for details

Origin

House of Representatives

2024 Regular Session

AI Summary

  • Applies to tax appeals for timeshare units in developments with more than 300 units, establishing that resale data shall be considered adequate for valuation when a reasonable number of resales from the same development are provided by the taxpayer
  • Requires resale data to be supported by the most recent Uniform Standards of Professional Appraisal Practice (USPAP) standards
  • Declares that this resale-based valuation methodology satisfies the constitutional "just valuation" requirement under Article VII, Section 4 of the Florida Constitution
  • Authorizes taxpayers to submit known and controlling resales of properties sold to assist in arriving at value conclusions during tax appeals
  • Amends section 192.037, Florida Statutes, with an effective date of July 1, 2024

Legislative Description

Valuation of Timeshare Units

Last Action

Died in Appropriations

3/8/2024

Committee Referrals

Commerce Committee1/31/2024
Ways and Means Committee11/22/2023

Full Bill Text

No bill text available