HB 1041 — Assessment of Homestead Property

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 HBCS/HB 1041 2025 A bill to be entitled An act relating to assessment of homestead property;

definingproviding thedefinitions; terms "elevation" or "elevated" and "elevation certificate";

193.624, changes, additions, or improvements to homestead property must shall be assessed at just value as of Page 1 of 6 CODING:

hb1041-00hb1041-01-c1 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 HBCS/HB 1041 2025 homestead property must shall be assessed at just value as of the first January 1 after the changes, additions, or improvements are substantially completed.

Homestead property damaged or destroyed by misfortune or calamity which, after being changed or improved, has a square footage of less than 100 percent of the homestead property's Page 2 of 6 CODING:

hb1041-00hb1041-01-c1 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 HBCS/HB 1041 2025 footage of less than 100 percent of the homestead property's total square footage before the damage or destruction must shall be assessed pursuant to subsection (5).

"Elevation""Elevation," "elevated," or "elevated""elevate" means:

(I) Raising an existing homestead property to at least the minimum height required to comply with the elevation requirements of the National Flood Insurance Program or the Florida Building CodeCode; elevation requirements;

or (II) Raising an existing homestead property to mitigate flood damage sustained during a previous flood event, provided that the elevation does not exceed the height required to comply with elevation requirements of the National Flood Insurance Program or the Florida Building Code at the property nearest to the homestead property.

2.c.

Changes,"Previous additions,flood orevent" improvementsmeans, thatfor replacehomestead orproperty aresituated within a county in which a state of emergency is Page 3 of 6 CODING:

hb1041-00hb1041-01-c1 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 HBCS/HB 1041 2025 madedeclared pursuant to homesteads. property through the elevation of such property must be assessed upon substantial completion as provided in this paragraph.

Such252.36, anpartial assessmentor mustcomplete beinundation calculated using the property's assessed value as of the Januaryhomestead 1property immediatelycaused precedingby the commencementoverflow of elevation,inland subjector totidal thewaters; assessment limitations in subsections (1) and (2), when:

the unusual and rapid accumulation of runoff or surface waters from any established water source, such as a river, stream, or drainage ditch;

or sustained periods of standing water resulting from rainfall.

2.

Changes, additions, or improvements that replace or are made to homestead property to elevate such property must be assessed upon substantial completion as provided in this paragraph.

Except as provided in subparagraph 3., such an assessment must be calculated using the property's assessed value as of the January 1 immediately preceding the commencement of elevation, subject to the assessment limitations in subsections (1) and (2), when:

Homestead property elevatedthat afterwas sustainingunable damageto orbe destructionused causedfor byits misfortuneintended orpurpose calamityon isthe eligibleJanuary for1 theimmediately assessmentpreceding methodologycommencement pursuantof elevation due to thisdamage paragraph,or exceptdestruction thatcaused suchby assessmentmisfortune or calamity must behave such assessment calculated using the homestead property's assessed value as of the January 1 immediately beforepreceding thesuch date on which the damage or destructiondestruction, was sustained, subject to thePage assessment4 limitationsof in6 subsectionsCODING: (1) and (2).

This subparagraph does not apply to homestead property elevated in accordance with sub-sub-subparagraph 1.a.(II).

4.

The homestead property's assessed value must be increased by the just value of that portion of the elevated homestead property which is in excess of 110 percent of the square footage of the homestead property before the elevation or of that portion exceeding 2,000 square feet.

However, the area Page 4 of 6 CODING:

hb1041-00hb1041-01-c1 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 HBCS/HB 1041 2025 underneaththe anassessment elevatedlimitations structure which is dedicated only for parking, storage, or access may not be included in thesubsections 110(1) percentand calculation.(2).

Such property's elevation must be commenced within 5 years after the January 1 following the damage or destruction of the homestead.

4.

The homestead property's assessed value must be increased by the just value of that portion of the elevated homestead property which is in excess of 110 percent of the square footage of the homestead property before the elevation or of that portion exceeding 2,000 square feet.

However, the area underneath an elevated structure which is dedicated only for parking, storage, or access may not be included in the 110 percent calculation.

Property appraisers may require the property owner to provide evidence substantiating eligibility for assessment pursuant to this paragraph, including elevation certificates documenting compliance with the National Flood Insurance Program, or, if elevating in accordance with sub-sub- subparagraph 1.a.(II), documentation evidencing damage from a prior flood event, including local government building permits obtainedPage during5 reconstruction.of 6 CODING:

Words stricken are deletions;

words underlined are additions.

hb1041-01-c1 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 CS/HB 1041 2025 obtained during reconstruction.

To be eligible for the assessment limitation under this paragraph, homestead property must comply with all applicable Federal Emergency Management Agency's National Flood Insurance Program building requirements and Florida Building Code elevation requirements.

Homestead property elevation pursuant to sub-sub-subparagraph 1.a.(II) must comply with building and elevation requirements at the property nearest to the homestead property.

8.

8.9.

This act shall take effect on the effective Pagedate 5 of 6the CODING:amendment to the State Constitution proposed by HJR 1039 or a similar joint resolution having substantially the same specific intent and purpose, if such amendment is approved at the next general election or at an earlier special election specifically authorized by law for that purpose.

Words stricken are deletions;

words underlined are additions.

hb1041-00 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 HB 1041 2025 date of the amendment to the State Constitution proposed by HJR 1039 or a similar joint resolution having substantially the same specific intent and purpose, if such amendment is approved at the next general election or at an earlier special election specifically authorized by law for that purpose.