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Bill > H0295

FL H0295

FL H0295
Disclosure of Estimated Ad Valorem Taxes

summary

Introduced
10/27/2023
In Committee
02/16/2024
Crossed Over
Passed
Dead
03/08/2024

Introduced Session

2024 Regular Session

Bill Summary

An act relating to disclosure of estimated ad valorem taxes; amending s. 689.261, F.S.; defining the terms "listing platform" and "property"; requiring certain listings to include estimated ad valorem taxes; prohibiting the current owner's ad valorem taxes from being displayed or used for certain purposes; providing an exception; providing requirements for listing platforms, the Department of Revenue, and property appraisers; providing protection from liability for specified parties who take certain actions; providing construction; prohibiting certain materials from including specified information; requiring, beginning on a specified date, the department to annually publish a formula and certain information on its website; authorizing the department to adopt rules; providing an effective date.

AI Summary

This bill amends Florida Statute 689.261 to require that any residential property listed on a real estate listing platform (such as websites or mobile apps) must include an estimated amount of the ad valorem (property) taxes for that property. The current owner's actual property taxes cannot be used to calculate this estimate; instead, the bill requires the Florida Department of Revenue to develop a formula that listing platforms can use to estimate the taxes based on the listing price and current millage rates. The bill also prohibits the current owner's property taxes from being displayed prominently on the listing. The bill provides legal protections for listing platforms that comply with these requirements, and requires the Department of Revenue to annually publish the formula and related information on its website starting in December 2024. The bill takes effect on January 1, 2025.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (3)

Other Sponsors (1)

Ways & Means Committee (House)

Last Action

Died in Commerce Committee (on 03/08/2024)

Taxonomy

Banking, Finance, and Domestic Commerce
  • ‐ Consumer Safety and Consumer Fraud
Community Development and Housing Issues
  • ‐ Housing and Real Estate Finance
Government Operations
  • ‐ Tax Administration and Collection of Revenue
(1 Companion Bills)

bill text

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bill summary

Document Type Source Location Created
State Bill Page https://www.flsenate.gov/Session/Bill/2024/295 10/27/2023
BillText https://www.flsenate.gov/Session/Bill/2024/295/BillText/c1/PDF 02/15/2024
Analysis - Ways & Means Committee (Post-Meeting) https://www.flsenate.gov/Session/Bill/2024/295/Analyses/h0295c.WMC.PDF 02/15/2024
https://www.flsenate.gov/Session/Bill/2024/295/Amendment/443117/PDF 02/13/2024
Analysis - Ways & Means Committee (Post-Meeting) https://www.flsenate.gov/Session/Bill/2024/295/Analyses/h0295b.WMC.PDF 02/12/2024
Regulatory Reform & Economic Development Subcommittee (Post-Meeting) https://www.flsenate.gov/Session/Bill/2024/295/Analyses/h0295a.RRS.PDF 01/24/2024
Regulatory Reform & Economic Development Subcommittee (Post-Meeting) https://www.flsenate.gov/Session/Bill/2024/295/Analyses/h0295.RRS.PDF 01/22/2024
BillText https://www.flsenate.gov/Session/Bill/2024/295/BillText/Filed/PDF 10/27/2023
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