Florida Senate - 2009                          SENATOR AMENDMENT
       Bill No. CS/CS/SB 1468, 1st Eng.
       
       
       
       
       
       
                                Barcode 854878                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 2/AD/3R         .                                
             04/30/2009 03:30 PM       .                                
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       Senator Altman moved the following:
       
    1         Senate Amendment 
    2  
    3         Delete lines 131 - 140
    4  and insert:
    5         use.
    6         1. If appropriate to the property, the assessed value shall
    7  be calculated using the income approach to value, and using a
    8  capitalization rate based upon the debt coverage ratio formula.
    9  The capitalization rate shall be calculated and updated
   10  annually. The capitalization rate shall be based on data that is
   11  county specific unless insufficient data is available, in which
   12  case the property appraisers shall use data from counties with
   13  similar conditions and characteristics, or data provided by the
   14  department. The condition and size of the property shall also be
   15  taken into account when assessing the property.
   16         2. In assessing property for which the methodology in 1. is
   17  not appropriate, the property appraiser shall consider only the
   18  following factors:
   19         a. The condition of the property.
   20         b. The present market value of the property in its current
   21  use.
   22         c. The income produced by the property.
   23         3.  In no event shall the assessed value of the property
   24  exceed just value.