No. CS/HB 4069
Filed under Environment & Water.
Central Broward Water Control District, Broward County; Revises maximum rate of ad valorem tax that district may levy; revises manner in which district may levy taxes.
Plain English Summary
AI-GENERATEDThe district's maximum ad valorem tax rate drops from 5 mills to 1 mill per dollar of value, an 80 percent cut in the highest rate its board of commissioners may levy each year.
At the same time, the tax base widens. The district could previously tax land only, expressly excluding any buildings or other improvements; that exclusion is removed, so improvements are now taxable too.
The tax is also now calculated on "taxable valuation" instead of "assessed valuation," a lower figure once exemptions like homestead apply. These three changes together could raise or lower any given bill depending on the parcel's mix of land and improvements.
AIThe ceiling on the district's ad valorem tax drops from up to 5 mills to up to 1 mill per dollar, and the value it is measured against changes from assessed valuation to taxable valuation, which is generally lower once exemptions such as homestead are subtracted.
AIUnder the prior law the district could tax land only, expressly excluding any buildings or other improvements built on it. That express exclusion is removed, so a parcel's improvements are now part of what this levy can reach, alongside the land itself.