Bill Type and Number: Ordinance 2007-458
Sponsor: Council Member Self
Date of Introduction: April 24, 2007
Committee(s) of Reference: F, ECID
Date of Analysis: April 27, 2007
Type of Action: Ordinance Code amendment
Bill Summary: The bill amends Ordinance
Code Chapter 780 – Property Tax – to create a new Part 6 – Tax Deferral Program
for Recreational and Commercial Working Waterfront Properties. The Part creates a mechanism by which the
owners of working waterfronts (hotels and motels, marinas, boat yards, docks,
boat hauling and repair businesses, etc.) may defer payment of ad valorem taxes
on such properties, under certain conditions, until such time as the property
ceases to be used for an eligible recreational or commercial use or is sold to
a new owner. The deferral would apply
only to taxes levied by the City of Jacksonville, and would not apply to School
Board, FIND or Water Management District taxes, non-ad valorem special
assessments, or taxes levied make payments pledged to bond debt service. Applications for the deferral will be
submitted to and approved or disapproved by the Tax Collector. Appeals of the Tax Collector’s denial of a
deferral application shall be to the Value Adjustment Board, and further appeal
of a denial by the VAB shall be to the circuit courts.
For
each property on which taxes are deferred pursuant to this program, a lien
shall be created and the Tax Collector shall issue to the City a tax
certificate for the deferred taxes, which shall accrue interest based on the
average yield of Florida Retirement Savings investments. The property owner is required to maintain
insurance on the property to safeguard its value for purposes of satisfying the
lien. The deferred taxes are due and
payable when the property is sold to a new owner or ceases to be used for a tax
deferrable purpose.
Background Information: The working waterfront tax
deferral program was authorized by a law passed by the 2006 Florida Legislature
to provide a means to incentivize owners of marinas, boat ramps, boat sales and
repair yards, etc. to maintain these uses and thereby the public’s access to
waterways in the face of rising tax bills due to the assessment of waterfront
property based on its highest and best use, which often would be expensive condominiums
that would preclude public use of the waterfront.
Policy Impact Area: Property tax deferral;
maintenance of public access to waterways
Fiscal Impact: Undetermined
Analyst: Clements