Rep. Anderson bill increasing property tax transparency clears committee stop

TALLAHASSEE, Fla. – A Florida bill unanimously passed through a committee stop this week aimed to increase property tax transparency for residential homeowners.

The bill, HB 295, by Rep. Adam Anderson, R-Palm Harbor, passed through the House Regulatory Reform & Economic Development Subcommittee.

Sen. Ed Hooper, R-Palm Harbor, is carrying a similar bill in the Senate.

During the meeting, Anderson said homebuyers are facing a “dramatic undisclosed sticker shock” when they purchase their first home or a new home, “jeopardizing their ability to maintain the American dream of homeownership.”

He said the bill will help protect homebuyers from being misled about their future property taxes when they buy a new home.

Anderson said rather than an online listing site disclosing the current ad valorem taxes, it will instead disclose an estimate of what the ad valorem taxes would be based on the listing price.

If a listing site uses a tax estimator, or a payment calculator, it must display the ad valorem taxes that would be due with or without a homestead exemption, he explained.

Anderson said if there’s no tax estimator, or a buyer payment calculator used on the listing platform, it will include a link to the property appraisers tax estimator or the property appraisers website.

According to the bill’s analysis, there is currently no requirement that a platform must include a property tax estimate or link to a property appraiser’s website.

Rep. Jeff Holcomb, R-Spring Hill, who is also a realtor, spoke in favor of the bill during debate.

“I applaud this bill it is it is a great asset to bring to the real estate community,” Holcomb said.

In closing, Anderson noted he has a meeting with online listing platforms to discuss how they may be affected by it and will address any concerns.

“This truly is just a very simple bill about transparency and consumer protection, and when you vote up today, you’re voting up to protect the American dream,” Anderson said.

The bill has two more committee stops before it reaches a full House vote. If passed, the effective date of the bill is July 1.