§ 120-70.108. Property Tax Subcommittee.
§ 120‑70.108. PropertyTax Subcommittee.
(a) The Revenue LawsStudy Committee shall establish a Property Tax Subcommittee consisting of up toeight members. The Senate cochair of the Committee shall designate up to fourmembers appointed by the President Pro Tempore of the Senate to serve on theSubcommittee and shall name one of those members a cochair of the Subcommittee.The House cochair of the Committee shall designate up to four members appointedby the Speaker of the House of Representatives to serve on the Subcommittee andshall name one of those members a cochair of the Subcommittee. The Subcommitteeshall meet upon the call of the Subcommittee cochairs.
(b) The Property TaxSubcommittee shall study, examine, and, if necessary, recommend changes to theproperty tax system. The Subcommittee shall include in its study an examinationof all classes of property, including exemptions and exclusions of propertyfrom the property tax base. The Subcommittee shall also study the present‑usevalue system, including the following:
(1) Examine theimplementation and application of the current present‑use value statutes.
(2) Evaluate other taxcredits, including adjustments to and credits for ad valorem taxes, toencourage agricultural, forestry, horticultural, and conservation use of land.
(3) Evaluate thetreatment of undeveloped land in ad valorem tax.
(4) Evaluate thepossibility of amending the present‑use value system and developing othertax incentives to encourage conservation and environmental protection of land.The study shall include the feasibility of allowing lands managed forconservation and the preservation of water quality, wildlife habitats, andother conservation purposes to be taxed at their present‑use value.
(5) Evaluate thepossibility of adding more specific land and resource management criteria tothe sound management programs required for all lands enrolled in the present‑usevalue system.
(6) Review other issuesrelated to the taxation of agricultural land, horticultural land, and forestland,including reducing the acreage requirement for land to qualify as forestland.
(c) The Subcommitteeshall report any recommendations to the Revenue Laws Study Committee. (2002‑184, s. 8; 2004‑170,s. 35.)