New Tax Reporting Requirement for Real Estate Transactions: Memorandum

In follow-up to the eNewsletter we distributed on August 1, 2008 regarding the New Tax Reporting Requirement for Real Estate Transactions, following is a Memorandum distributed yesterday by James McAdams of Property Tax Oversight. If you have any questions regarding the memo or use of the provisional form, please feel free to contact me.

MEMORANDUM:

TO: Property Appraisers and Other Interested Parties FROM: James McAdams, Director, Property Tax Oversight SUBJECT: Provisional Form DR-430 Change of Ownership or Control DATE: October 1, 2008

Pursuant to Section 6 of Senate Bill 1588, which amended Section 193.1556, Florida Statutes, the Department has issued a provisional form that may be used by taxpayers to notify property appraisers of a change of ownership or control of non-homestead property eligible for the Amendment 1 10% assessment increase limitation. This form reflects the feedback and suggestions received by the Department on the first two drafts that were posted on our web site.

The Department is drafting emergency rules for the Form DR-430. A draft of these rules will be issued shortly for review and comment. However, to assist taxpayers in complying with the requirements of Section 193.1556, this provisional form may be used immediately. The form is not expected to change when the emergency rules are issued.

If you have any questions about this form, please contact us at SB4D@dor.state.fl.us .

Thank you again for your cooperation and assistance.

Michael D. Minton Dean, Mead, Minton & Zwemer 1903 S. 25th St., Suite 200 Fort Pierce FL 34947 Phone: (772) 464-7700 Ext. 6701 Fax: (772) 464-7877 Email: MMinton@www.deanmead.com Internet: deanmead.deme.dev

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