Florida S0284 establishes an assessment limitation for property owned and used by small businesses, setting the assessed value at just value after a.

Florida S0284 introduces a new section in the Florida Statutes to assess property owned and used by small businesses at just value starting January 1 of the year following qualification. It limits the annual change in assessed value to the lesser of three percent or the change in the Consumer Price Index. The bill also mandates the Department of Revenue to adopt rules for the application and certification process, and it includes criminal and civil penalties for knowingly filing false information. The act is contingent on the approval of a constitutional amendment.

Florida S0284 establishes an assessment limitation for property owned and used by small businesses, setting the assessed value at just value after a.

Florida S0284 introduces a new section in the Florida Statutes to assess property owned and used by small businesses at just value starting January 1 of the year following qualification. It limits the annual change in assessed value to the lesser of three percent or the change in the Consumer Price Index. The bill also mandates the Department of Revenue to adopt rules for the application and certification process, and it includes criminal and civil penalties for knowingly filing false information. The act is contingent on the approval of a constitutional amendment.