| 1 | Representative Domino offered the following: |
| 2 |
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| 3 | Amendment (with directory, ballot, and title amendments) |
| 4 | Remove line(s) 195-201 and insert: |
| 5 | SECTION 6. Homestead exemptions.-- |
| 6 | (a) Every person who has the legal or equitable title to |
| 7 | real estate and maintains thereon the permanent residence of the |
| 8 | owner, or another legally or naturally dependent upon the owner, |
| 9 | shall be exempt from taxation thereon, except assessments for |
| 10 | special benefits, up to the assessed valuation of twenty-five |
| 11 | thousand dollars and, for all levies other than school district |
| 12 | levies, on the assessed valuation greater than fifty thousand |
| 13 | dollars and up to seventy-five thousand dollars, upon |
| 14 | establishment of right thereto in the manner prescribed by law. |
| 15 | The real estate may be held by legal or equitable title, by the |
| 16 | entireties, jointly, in common, as a condominium, or indirectly |
| 17 | by stock ownership or membership representing the owner's or |
| 18 | member's proprietary interest in a corporation owning a fee or a |
| 19 | leasehold initially in excess of ninety-eight years. The |
| 20 | exemption shall not apply with respect to any assessment roll |
| 21 | until such roll is first determined to be in compliance with the |
| 22 | provisions of Section 4 of this Article by a state agency |
| 23 | designated by general law. This exemption is repealed on the |
| 24 | effective date of any amendment to this Article which provides |
| 25 | for the assessment of homestead property at less than just |
| 26 | value. |
| 27 | (b) Not more than one exemption shall be allowed any |
| 28 | individual or family unit or with respect to any residential |
| 29 | unit. No exemption shall exceed the value of the real estate |
| 30 | assessable to the owner or, in case of ownership through stock |
| 31 | or membership in a corporation, the value of the proportion |
| 32 | which the interest in the corporation bears to the assessed |
| 33 | value of the property. |
| 34 | (c) By general law and subject to conditions specified |
| 35 | therein, the Legislature may provide to renters, who are |
| 36 | permanent residents, ad valorem tax relief on all ad valorem tax |
| 37 | levies. Such ad valorem tax relief shall be in the form and |
| 38 | amount established by general law. |
| 39 | (d) The legislature may, by general law, allow counties or |
| 40 | municipalities, for the purpose of their respective tax levies |
| 41 | and subject to the provisions of general law, to grant an |
| 42 | additional homestead tax exemption not exceeding fifty thousand |
| 43 | dollars to any person who has the legal or equitable title to |
| 44 | real estate and maintains thereon the permanent residence of the |
| 45 | owner and who has attained age sixty-five and whose household |
| 46 | income, as defined by general law, does not exceed twenty |
| 47 | thousand dollars. The general law must allow counties and |
| 48 | municipalities to grant this additional exemption, within the |
| 49 | limits prescribed in this subsection, by ordinance adopted in |
| 50 | the manner prescribed by general law, and must provide for the |
| 51 | periodic adjustment of the income limitation prescribed in this |
| 52 | subsection for changes in the cost of living. |
| 53 | (e) Each veteran who is age 65 or older who is partially |
| 54 | or totally permanently disabled shall receive a discount from |
| 55 | the amount of the ad valorem tax otherwise owed on homestead |
| 56 | property the veteran owns and resides in if the disability was |
| 57 | combat related, the veteran was a resident of this state at the |
| 58 | time of entering the military service of the United States, and |
| 59 | the veteran was honorably discharged upon separation from |
| 60 | military service. The discount shall be in a percentage equal to |
| 61 | the percentage of the veteran's permanent, service-connected |
| 62 | disability as determined by the United States Department of |
| 63 | Veterans Affairs. To qualify for the discount granted by this |
| 64 | subsection, an applicant must submit to the county property |
| 65 | appraiser, by March 1, proof of residency at the time of |
| 66 | entering military service, an official letter from the United |
| 67 | States Department of Veterans Affairs stating the percentage of |
| 68 | the veteran's service-connected disability and such evidence |
| 69 | that reasonably identifies the disability as combat related, and |
| 70 | a copy of the veteran's honorable discharge. If the property |
| 71 | appraiser denies the request for a discount, the appraiser must |
| 72 | notify the applicant in writing of the reasons for the denial, |
| 73 | and the veteran may reapply. The Legislature may, by general |
| 74 | law, waive the annual application requirement in subsequent |
| 75 | years. This subsection shall take effect December 7, 2006, is |
| 76 | self-executing, and does not require implementing legislation. |
| 77 | (f) As provided by general law and subject to conditions |
| 78 | specified therein, every person who establishes the right to |
| 79 | receive the homestead exemption provided in subsection (a) |
| 80 | within one year after purchasing the homestead property and who |
| 81 | has not owned property in the previous three years to which the |
| 82 | homestead exemption provided in subsection (a) applied is |
| 83 | entitled to an additional homestead exemption in an amount equal |
| 84 | to fifty percent of the homestead property's just value on |
| 85 | January 1 of the year the homestead is established. The amount |
| 86 | of the additional exemption shall not exceed two-hundred-fifty |
| 87 | thousand dollars and shall be reduced in each subsequent year by |
| 88 | an amount equal to twenty percent of the amount of the |
| 89 | additional exemption received in the year the homestead was |
| 90 | established or by an amount equal to the difference between the |
| 91 | just value of the property and the assessed value of the |
| 92 | property determined under Section 4(d) of this Article, |
| 93 | whichever is greater. Not more than one exemption provided under |
| 94 | this subsection shall be allowed per homestead property. The |
| 95 | additional exemption shall apply to property purchased after |
| 96 | January 1, 2010, but shall not be available in the sixth and |
| 97 | subsequent years after the additional exemption is first |
| 98 | received. |
| 99 | ARTICLE XII |
| 100 | SCHEDULE |
| 101 | SECTION 31. Property tax limit for nonhomestead |
| 102 | property.--The amendment to Section 4 of Article VII reducing |
| 103 | the limit on the maximum annual increase in the assessed value |
| 104 | of nonhomestead property from ten percent to five percent and |
| 105 | this section shall take effect January 1, 2011. |
| 106 | SECTION 32. Additional homestead exemption for first-time |
| 107 | homestead property owners.--The amendment to Section 6 of |
| 108 | Article VII providing for an additional homestead exemption for |
| 109 | first-time homestead property owners and this section shall take |
| 110 | effect January 1, 2011, and shall be available for properties |
| 111 | purchased on or after January 1, 2010. |
| 112 |
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| 113 |
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| 114 | ----------------------------------------------------- |
| 115 | D I R E C T O R Y A M E N D M E N T |
| 116 | Remove line(s) 11-12 and insert: |
| 117 | That the following amendments to Sections 4 and 6 of |
| 118 | Article VII and the creation of Sections 31 and 32 of Article |
| 119 | XII of the State |
| 120 |
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| 121 |
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| 122 | ----------------------------------------------------- |
| 123 | B A L L O T A M E N D M E N T |
| 124 | Remove lines 205-211 and insert: |
| 125 | ARTICLE VII, SECTIONS 4, 6 |
| 126 | ARTICLE XII, SECTIONS 31, 32 |
| 127 | REDUCTION IN LIMITATION ON NONHOMESTEAD PROPERTY ANNUAL |
| 128 | ASSESSMENT INCREASES; ADDITIONAL HOMESTEAD EXEMPTION FOR FIRST- |
| 129 | TIME HOMESTEAD PROPERTY OWNERS.--Proposing an amendment to the |
| 130 | State Constitution to: |
| 131 | (1) Reduce from 10 percent to 5 percent the limitation on |
| 132 | annual increases in assessments of nonhomestead real property |
| 133 | and provide an effective date of January 1, 2011. |
| 134 | (2) Provide first-time homestead property owners with an |
| 135 | additional homestead exemption equal to 50 percent of the |
| 136 | property's just value in the first year, limited to $250,000; |
| 137 | reduce the amount of the additional exemption in each succeeding |
| 138 | year for five years by the greater of 20 percent of the amount |
| 139 | of the initial additional exemption or the difference between |
| 140 | the just value and the assessed value of the property; limit the |
| 141 | additional exemption to one per homestead property; prohibit the |
| 142 | additional exemption if any owner of the property owned property |
| 143 | in the previous 3 years that received the homestead exemption; |
| 144 | limit the additional exemption to properties purchased after |
| 145 | January 1, 2010; prohibit availability of the additional |
| 146 | exemption in the sixth and subsequent years after the additional |
| 147 | exemption is granted; and provide for the amendment to take |
| 148 | effect January 1, 2011, and apply to properties purchased on or |
| 149 | after January 1, 2010. |
| 150 |
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| 151 | ----------------------------------------------------- |
| 152 | T I T L E A M E N D M E N T |
| 153 | Remove line(s) 2-7 and insert: |
| 154 | A joint resolution proposing an amendment to Sections 4 |
| 155 | and 6 of Article VII and the creation of Sections 31 and |
| 156 | 32 of Article XII of the State Constitution to reduce from |
| 157 | 10 percent to 5 percent the limitation on annual |
| 158 | assessment increases applicable to nonhomestead real |
| 159 | property, provide an additional homestead exemption for |
| 160 | first-time homestead property owners and provide |
| 161 | application, and provide effective dates. |