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Bill Summary Details

Tax Administration (Watch)

SB 7060 (Finance and Tax) makes changes to tax-related statutes as recommended by the Department of Revenue. Of note to municipalities, the bill extends, from three to five years, the time for commencement of repairs to property damaged by Hurricane Michael without the property owner losing the prior assessment limitation. The bill also updates real property classification language to classify apartments with more than nine units as commercial property. The bill also updates DOR’s tax roll review requirements by deleting the requirement that the department do in-depth reviews of tangible personal property and the requirement that the department calculate a confidence interval for an entire property roll. (Hughes)