Florida Statute 192.37 - Full Text and Legal Analysis

The 2024 Florida Statutes (including 2025 Special Session C)

Title XIV
TAXATION AND FINANCE

Chapter 192
TAXATION: GENERAL PROVISIONS

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F.S. 192.037

192.037 Fee timeshare real property; taxes and assessments; escrow.—

(1) For the purposes of ad valorem taxation and special assessments, the managing entity responsible for operating and maintaining fee timeshare real property shall be considered the taxpayer as an agent of the timeshare period titleholder.

(2) Fee timeshare real property shall be listed on the assessment rolls as a single entry for each timeshare development. The assessed value of each timeshare development shall be the value of the combined individual timeshare periods or timeshare estates contained therein.

(3) The property appraiser shall annually notify the managing entity of the proportions to be used in allocating the valuation, taxes, and special assessments on timeshare property among the various timeshare periods. Such notice shall be provided on or before the mailing of notices pursuant to s. 194.011. Ad valorem taxes and special assessments shall be allocated by the managing entity based upon the proportions provided by the property appraiser pursuant to this subsection.

(4) All rights and privileges afforded property owners by chapter 194 with respect to contesting or appealing assessments shall apply both to the managing entity responsible for operating and maintaining the timesharing plan and to each person having a fee interest in a timeshare unit or timeshare period.

(5) The managing entity, as an agent of the timeshare period titleholders, shall collect and remit the taxes and special assessments due on the fee timeshare real property. In allocating taxes, special assessments, and common expenses to individual timeshare period titleholders, the managing entity must clearly label the portion of any amounts due which are attributable to ad valorem taxes and special assessments.

(6)(a) Funds received by a managing entity or its successors or assigns from timeshare titleholders for ad valorem taxes or special assessments shall be placed in escrow as provided in this section for release as provided herein.

(b) If the managing entity is a condominium association subject to the provisions of chapter 718 or a cooperative association subject to the provisions of chapter 719, the control of which has been turned over to owners other than the developer, the escrow account must be maintained by the association; otherwise, the escrow account must be placed with an independent escrow agent, who shall comply with the provisions of chapter 721 relating to escrow agents.

(c) The principal of such escrow account shall be paid only to the tax collector of the county in which the timeshare development is located or to his or her deputy.

(d) Interest earned upon any sum of money placed in escrow under the provisions of this section shall be paid to the managing entity or its successors or assigns for the benefit of the owners of timeshare units; however, no interest may be paid unless all taxes on the timeshare development have been paid.

(e) On or before May 1 of each year, a statement of receipts and disbursements of the escrow account must be filed with the Division of Florida Condominiums, Timeshares, and Mobile Homes of the Department of Business and Professional Regulation, which may enforce this paragraph pursuant to s. 721.26. This statement must appropriately show the amount of principal and interest in such account.

(f) Any managing entity or escrow agent who intentionally fails to comply with this subsection concerning the establishment of an escrow account, deposits of funds into escrow, and withdrawal therefrom is guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084. The failure to establish an escrow account or to place funds therein as required in this section is prima facie evidence of an intentional violation of this section.

(7) The tax collector shall accept only full payment of the taxes and special assessments due on the timeshare development.

(8) The managing entity shall have a lien pursuant to s. 718.121 or s. 721.16 on the timeshare periods for the taxes and special assessments.

(9) All provisions of law relating to enforcement and collection of delinquent taxes shall be administered with respect to the timeshare development as a whole and the managing entity as an agent of the timeshare period titleholders; if, however, an application is made pursuant to s. 197.502, the timeshare period titleholders shall receive the protections afforded by chapter 197.

(10) In making his or her assessment of timeshare real property, the property appraiser shall look first to the resale market.

(11) If there is an inadequate number of resales to provide a basis for arriving at value conclusions, then the property appraiser shall deduct from the original purchase price “usual and reasonable fees and costs of the sale.” For purposes of this subsection, “usual and reasonable fees and costs of the sale” for timeshare real property shall include all marketing costs, atypical financing costs, and those costs attributable to the right of a timeshare unit owner or user to participate in an exchange network of resorts. For timeshare real property, such “usual and reasonable fees and costs of the sale” shall be presumed to be 50 percent of the original purchase price; provided, however, such presumption shall be rebuttable.

(12) Subsections (10) and (11) apply to fee and non-fee timeshare real property.

History.—s. 54, ch. 82-226; s. 28, ch. 83-264; s. 204, ch. 85-342; s. 1, ch. 86-300; s. 15, ch. 88-216; s. 12, ch. 91-236; s. 10, ch. 94-218; s. 1462, ch. 95-147; s. 11, ch. 2008-240.

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Amendments to 192.037

Annotations, Discussions, Cases:

Arrestable Offenses / Crimes under Fla. Stat. 192.037

Level: Degree
Misdemeanor/Felony: First/Second/Third

S192.037 6f - EMBEZZLE - FAIL TO ESTABLISH OR USE ESCROW ACCOUNT - F: T

Cases Citing Statute 192.037

Total Results: 17

Cason v. FLORIDA DEPT. OF MANAGEMENT SERVS.

944 So. 2d 306, 2006 WL 3313749

Supreme Court of Florida | Filed: Nov 16, 2006 | Docket: 2518596

Cited 30 times | Published

rejected similar challenges to the statute, section 192.037, Florida Statutes (1983). 527 So.2d at 814

Markham v. Neptune Hollywood Beach Club

527 So. 2d 814, 13 Fla. L. Weekly 423, 1988 Fla. LEXIS 795, 1988 WL 70702

Supreme Court of Florida | Filed: Jul 7, 1988 | Docket: 1526087

Cited 23 times | Published

valorem taxes for the year 1983 pursuant to section 192.037, Florida Statutes (1983). The tax rolls of

Spanish River Resort Corp. v. Walker

497 So. 2d 1299, 11 Fla. L. Weekly 2420

District Court of Appeal of Florida | Filed: Nov 19, 1986 | Docket: 1240498

Cited 7 times | Published

are of the opinion that the polestar must be section 192.037(1) and (2), Florida Statutes (1983), which

Day v. High Point Condo Resorts, Ltd.

521 So. 2d 1064, 1988 WL 6021

Supreme Court of Florida | Filed: Jan 28, 1988 | Docket: 1348005

Cited 6 times | Published

508 (5th DCA 1986), holding unconstitutional section 192.037, Florida Statutes (1985), which sets forth

Hausman v. VTSI, INC.

482 So. 2d 428, 11 Fla. L. Weekly 64

District Court of Appeal of Florida | Filed: Dec 26, 1985 | Docket: 1769361

Cited 6 times | Published

periods or time-share estates contained therein. § 192.037(2), Fla. Stat. (1983). Tax statutes, however,

GULFSIDE INTERVAL VACS., INC. v. Schultz

479 So. 2d 776, 10 Fla. L. Weekly 2562

District Court of Appeal of Florida | Filed: Nov 13, 1985 | Docket: 463531

Cited 6 times | Published

valorem taxes for the year 1983 pursuant to section 192.037, Florida Statutes (1983). The appellants seek

Oyster Pointe Resort Condo. v. Nolte

524 So. 2d 415

Supreme Court of Florida | Filed: Mar 31, 1988 | Docket: 1701555

Cited 5 times | Published

497 So.2d 740 and 1306 (1986), declaring section 192.037, Florida Statutes (1983), valid upon the authority

High Point Condominium Resorts v. Day

494 So. 2d 508, 11 Fla. L. Weekly 1812, 1986 Fla. App. LEXIS 9400

District Court of Appeal of Florida | Filed: Aug 14, 1986 | Docket: 452288

Cited 2 times | Published

case questioning the constitutionality of section 192.037, Florida Statutes, which sets out a method

Neptune Hollywood Beach Club, Inc. v. Markham

473 So. 2d 691, 10 Fla. L. Weekly 657

District Court of Appeal of Florida | Filed: Mar 13, 1985 | Docket: 451612

Cited 2 times | Published

complaint challenging the constitutionality of section 192.037, Florida Statutes (1983), which deals with

Luke Investments v. Camelot Condominium

974 So. 2d 433, 2007 WL 4180941

District Court of Appeal of Florida | Filed: Nov 28, 2007 | Docket: 1718115

Published

than 900 timeshare period units. Pursuant to section 192.037(1), Florida Statutes (2006), the Pinellas County

Gilreath v. Westgate Daytona, Ltd.

871 So. 2d 961, 2004 Fla. App. LEXIS 4335, 2004 WL 689285

District Court of Appeal of Florida | Filed: Apr 2, 2004 | Docket: 1709464

Published

the year 1999. The Legislature has enacted section 192.037, Florida Statutes, which governs how timeshare

Ocean 80 Resort Homeowners Ass'n v. Knight

633 So. 2d 63, 1994 Fla. App. LEXIS 954, 1994 WL 45348

District Court of Appeal of Florida | Filed: Feb 15, 1994 | Docket: 64746795

Published

practice of single project taxation required by section 192.037, Florida Statutes (1991) and upheld in Southards

Amendments to Florida Rules of Criminal Procedure

613 So. 2d 1307, 18 Fla. L. Weekly Supp. 113, 1993 Fla. LEXIS 172, 1993 WL 32299

Supreme Court of Florida | Filed: Feb 11, 1993 | Docket: 64694361

Published

Counterfeiting Chapter 832 — Worthless Checks Section 192.037 — Escrow Accounts Section 206.56 — Theft of

Southards v. Motel Management Co.

610 So. 2d 524, 1992 Fla. App. LEXIS 12063, 1992 WL 353411

District Court of Appeal of Florida | Filed: Dec 1, 1992 | Docket: 64692807

Published

Management Company. The plaintiffs contend that Section 192.037(2), (7), Florida Statutes (1991) is unconstitutional

Spanish River Resort Corp. v. Walker

526 So. 2d 677, 13 Fla. L. Weekly 293, 1988 Fla. LEXIS 528, 1988 WL 40930

Supreme Court of Florida | Filed: Apr 28, 1988 | Docket: 64635283

Published

appraiser valued the time-share units under section 192.037, Florida Statutes (1983), based on the listed

Driftwood Management Co. v. Nolte

497 So. 2d 740, 11 Fla. L. Weekly 2436, 1986 Fla. App. LEXIS 10710

District Court of Appeal of Florida | Filed: Nov 19, 1986 | Docket: 64623017

Published

expressly approving the constitutional validity of Section 192.037(2), Florida Statutes (1985). DOWNEY and ANSTEAD

Oyster Pointe Resort Condominium Ass'n v. Nolte

497 So. 2d 1306, 11 Fla. L. Weekly 2435, 1986 Fla. App. LEXIS 10684

District Court of Appeal of Florida | Filed: Nov 19, 1986 | Docket: 64623227

Published

expressly approving the constitutional validity of section 192.037(2), Florida Statutes (1985). DOWNEY and ANSTEAD