Property Appraiser Chris Jones outlines Amendment 1 application process

On Jan. 29, Florida voters passed Amendment 1, which substantially changes the state's property tax system. As property appraiser, it is my responsibility to provide each property owner with knowledge of the benefits available as well as the opportunity to obtain them. To accomplish this, it is important that property owners understand the amendment and complete the required steps.

Here's what you need to know:

Save Our Homes portability: This provision allows property owners who have accumulated savings from the original Save Our Homes amendment, and who have sold their homestead property during 2007, to transfer their savings to a newly established homestead property. The amendment grants homeowners up to two years to transfer their savings, and applies to all tax levies.

The property owner seeking this benefit is required to complete an original "Application for Ad Valorem Tax Exemption" as well as the supplemental "Transfer of Homestead Assessment Difference" application.

Both may be completed at the same time.

A transfer application will be mailed to owners who filed a 2008 homestead exemption. The completed form should be returned in the self-addressed, stamped envelope provided.

The difference between the market value and the assessed value determines the amount to be transferred. These values are determined by the property appraisers in the counties where the respective properties are located.

Additional $25,000 homestead exemption: This provision does not require the property owner to take any action, other than to have an original homestead application on file with this office. The exemption will automatically be applied to the 2008 assessed value.

The additional homestead exemption does not exempt value subject to school tax levies and applies only to that portion of the assessed value greater than $50,000.

Tangible personal property: Personal property subject to ad valorem taxation may now receive a $25,000 exemption. This exemption applies to all tax levies.

In order to receive this exemption, the property owner must file a Tangible Personal Property Tax return for 2008. This return will serve as the application for the exemption. Tax returns are due April 1.

In future years, taxpayers who have qualified for the exemption with an assessed value less than the $25,000 exemption will not be required to file a return unless property is added that would increase their value greater than the exemption amount.

Ten percent assessment cap: The amendment limits annual assessed value increases to 10 percent for all non-homestead properties. The limitation applies to non-school tax levies only; however, this provision is not effective until 2009, and will retire after 10 years.

To receive this cap, the Florida Statutes require that an application be filed with the property appraiser between Jan. 1, 2009, and March 1, 2009; however, it is our intention, as well as that of other Florida property appraisers, to work with the Legislature and the Department of Revenue to eliminate this application requirement.

My office is committed to ensuring that property owners receive all the benefits to which they are entitled, while attempting to make the process of receiving those benefits as effortless as possible.

Please call our office at 434-2735 or visit our Web site at www.escpa.org if you have any questions.