AMENDEMENT #6
AMENDMENT #6 : ASSESSMENT OF WORKING WATERFRONT PROPERTY BASED UPON CURRENT — — USE
Reference: Article VII, Section 4, and Article XII, new section
Summary: Provides for assessment based upon use of land used predominantly for commercial fishing purposes; land used for vessel launches into waters that are navigable and accessible to the public; marinas and drystacks that are open to the public; and water-dependent marine manufacturing facilities, commercial fishing facilities, and marine vessel construction and repair facilities and their support activities, subject to conditions, limitations, and reasonable definitions specified by general law.
Sponsor: Florida Budget and Taxation Reform Commission
Background: Access to public waterfront has been reduced as marinas and the like cannot afford to resist developers’ offers to convert the land into condominium towers or other private buildings. The amendment would require those properties to be taxed based on their current use rather than on their “highest and best” use.
PRO:
* Access to public waterfront areas would more likely remain at current levels rather than continuing to diminish.
* This measure may reduce property taxes on working waterfront properties and thereby reduce pressure to sell those properties to developers.
CON:
* Local revenues would suffer.
* The measure allows the Legislature to define terms and impose conditions and limitations on any tax break working waterfront owners receive.
