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FL S0886
Bill
AI Summary
- Applies to tax appeals involving timeshare developments with more than 300 timeshare units
- Establishes that resale data from timeshare units within the same development must be considered adequate for valuation when a reasonable number of resales are provided by the taxpayer and supported by Uniform Standards of Professional Appraisal Practice (USPAP)
- Declares that this resale-based valuation methodology satisfies the constitutional mandate for just valuation under Article VII, Section 4 of the Florida Constitution
- Authorizes taxpayers to submit known and controlling resale data of properties sold to assist in arriving at value conclusions during tax appeals
- Effective date of July 1, 2024; sponsored by Senator Gruters
Legislative Description
Valuation of Timeshare Units
Last Action
Died in Appropriations
3/8/2024
Committee Referrals
Appropriations2/13/2024
Finance and Tax1/16/2024
Full Bill Text
No bill text available