This bill is the implementing language for Amendment 3 passed by the people of Florida in the November 4, 2008 election. Amendment 3 authorized the legislature, by adoption of general law, to exempt the value of improvements made for the purpose of improving a property? resistance to wind damage or installation of renewable energy source devices.
?s representatives, it is our duty to represent our constituents and serve as their voice in the legislature,?stated Representative Frishe. ? am honored to put forth voter-approved legislation that will compensate Floridians for their responsible actions and provide property tax relief in exchange for conscientious property improvements.?
The bill instructs the Property Appraiser to deduct the value of renewable energy source devices and improvements to protect against wind damage from the just value to arrive at an assessed value that excludes the consideration for the subject improvements.
The proposal requires an owner to apply for this benefit and document improvements made to their property so that the Property Appraiser has a method to identify potential beneficiaries and to assess the value of the improvement. The bill will apply to assessments beginning January 1, 2012.
CS/CS/HB 531 must pass the Florida Senate before being sent to the Governor to be signed into law.