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| 3 | 3 | | HB 471 2024 |
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| 6 | 6 | | |
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| 7 | 7 | | CODING: Words stricken are deletions; words underlined are additions. |
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| 8 | 8 | | hb0471-00 |
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| 9 | 9 | | Page 1 of 2 |
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| 10 | 10 | | F L O R I D A H O U S E O F R E P R E S E N T A T I V E S |
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| 14 | 14 | | A bill to be entitled 1 |
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| 15 | 15 | | An act relating to valuation of timeshare units; 2 |
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| 16 | 16 | | amending s. 192.037, F.S.; specifying the methodology 3 |
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| 17 | 17 | | by which certain timeshare units must be valued in 4 |
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| 18 | 18 | | certain tax appeals; providing that the methodology 5 |
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| 19 | 19 | | meets the constitutional mandate for just valuation; 6 |
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| 20 | 20 | | authorizing a taxpayer to submit certain information 7 |
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| 21 | 21 | | for a specified purpose; providing an effective date. 8 |
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| 22 | 22 | | 9 |
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| 23 | 23 | | Be It Enacted by the Legislature of the State of Florida: 10 |
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| 24 | 24 | | 11 |
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| 25 | 25 | | Section 1. Subsection (12) of section 192.037, Florida 12 |
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| 26 | 26 | | Statutes, is renumbered as subsection (13), and a new subsection 13 |
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| 27 | 27 | | (12) is added to that section to read: 14 |
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| 28 | 28 | | 192.037 Fee timeshare real property; taxes and 15 |
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| 29 | 29 | | assessments; escrow. — 16 |
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| 30 | 30 | | (12) In all tax appeals regarding timeshare units that are 17 |
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| 31 | 31 | | part of a timeshare development with more than 300 timeshare 18 |
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| 32 | 32 | | units, if the taxpayer asserts that there are an adequate number 19 |
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| 33 | 33 | | of resales to provide a basis for arriving at value conclusions, 20 |
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| 34 | 34 | | the number of resales shall be considered adequate when a 21 |
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| 35 | 35 | | reasonable number of resales of timeshare units within the same 22 |
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| 36 | 36 | | timeshare development are provided by the taxpayer and supported 23 |
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| 37 | 37 | | by the most recent standards adopted by the Uniform Standards of 24 |
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| 38 | 38 | | Professional Appraisal Practice. This methodology meets the 25 |
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| 39 | 39 | | |
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| 40 | 40 | | HB 471 2024 |
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| 43 | 43 | | |
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| 44 | 44 | | CODING: Words stricken are deletions; words underlined are additions. |
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| 45 | 45 | | hb0471-00 |
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| 46 | 46 | | Page 2 of 2 |
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| 47 | 47 | | F L O R I D A H O U S E O F R E P R E S E N T A T I V E S |
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| 50 | 50 | | |
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| 51 | 51 | | requirement of just valuation of all real estate located in this 26 |
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| 52 | 52 | | state, including timeshare units, as recognized by and provided 27 |
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| 53 | 53 | | in s. 4, Art. VII of the State Constitution. The taxpayer may 28 |
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| 54 | 54 | | submit the known and c ontrolling resales of the properties sold 29 |
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| 55 | 55 | | to assist in arriving at value conclusions. 30 |
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| 56 | 56 | | Section 2. This act shall take effect July 1, 2024. 31 |
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