CopyCited 11 times | Published | United States Bankruptcy Court, N.D. Florida | 37 Collier Bankr. Cas. 2d 636, 10 Fla. L. Weekly Fed. B 196, 1996 Bankr. LEXIS 1727, 1996 WL 765300
...property is designed to be put during the expected tax year." Thus, since the property was in fact a condominium during the period of 1989 through 1992, the property appraiser was required to appraise the property in accordance with Florida Statutes § 718.120, which requires the taxes to be assessed against individual condominium parcels and not the property as a whole....
CopyCited 6 times | Published | Florida 5th District Court of Appeal | 11 Fla. L. Weekly 64
...Since VTSI's time shares were created in condominium facilities, they should have been assessed accordingly. The Florida Condominium Act provides in part that "[e]ach condominium parcel shall be separately assessed for ad valorem taxes and special assessments as a single parcel." § 718.120(1), Fla....
CopyPublished | Florida 1st District Court of Appeal
...7
underlying land. 4 Second, the County argues that all of each unit owner’s
condominium parcel—the unit and proportionate interest in the underlying land—
must be subject to ad valorem taxation as real estate because section 718.120(1)
mandates “that the land interest is not to be assessed separately by the Property
Appraiser.” We conclude that both arguments are without merit.
Under chapter 718, “condominium parcel” is the name given to property...
...and the
land underlying those same structures as subject only to taxation as intangible
personal property. Nevertheless, the County now argues that chapter 718 prohibits
such taxation in this case. In support of its position, the County points to section
718.120(1), which provides in pertinent part as follows:
10
Ad valorem taxes, benefit taxes, and special assessments by taxing
authorities shall be assessed against the condominium parcels and not
upon the condominium property as a whole....
...The statute provides
that “taxable value” means “the assessed value of property minus the amount of any
applicable exemption provided under s. 3 or s. 6, Art. VII of the State Constitution
and chapter 196.” §
192.001(16), Fla. Stat. We cannot conclude that
section
718.120(1) eliminates any exemption that should otherwise be subtracted
from the assessed value to reach the taxable value. Section
718.120(1) merely means
that the County must assess each condominium parcel separately from other
condominium parcels....
CopyAgo (Fla. Att'y Gen. 1999).
Published | Florida Attorney General Reports
...fits, and revenues on account of the common elements] over the common expenses." 14 Thus, a condominium association may receive rents and profits as well as incur expenses as a result of its undivided ownership and disposition of common elements. 15 Section 718.120 (1), Florida Statutes, provides: "Ad valorem taxes, benefit taxes, and special assessments by taxing authorities shall be assessed against the condominium parcels and not upon the condominium property as a whole....
...e property appraiser that condominium common elements used for commercial purposes are entitled to unique treatment, the proportionate value of this property should be assessed to each condominium parcel sharing in that common element as directed by section 718.120 , Florida Statutes....
CopyAgo (Fla. Att'y Gen. 2004).
Published | Florida Attorney General Reports
element characteristic for assessment purposes. Section
718.120, Florida Statutes, prescribes the manner in
CopyPublished | Florida 1st District Court of Appeal | 2006 Fla. App. LEXIS 9692, 31 Fla. L. Weekly Fed. D 1634
...mprovements thereto as well as the docks and piers.” In support of its decision, the trial court concluded: To allow the wet slips to be assessed and taxed as intangible property and the dry slips to be taxed as real property would be violative of § 718.120, Florida Statutes .......
...Under these circumstances, the trial court’s finding that the Wet Slip Renters “owned” the docks, piers, and uplands is clearly erroneous. Furthermore, the wet slips are not condominium units. The SSL lease provides they can never be owned. Thus, section 718.120 is not applicable to the wet slips, and should not have been considered by the trial court....
CopyAgo (Fla. Att'y Gen. 2009).
Published | Florida Attorney General Reports
Dear Mr. Turner: You ask substantially the following question: May the taxation of "limited" common elements be prorated among all condominium owners pursuant to section 718.120 , Florida Statutes? In sum: Assessment for taxation of limited common elements should be prorated to the individual units receiving the benefit of the limited common elements....
...re apparent factual distinctions in how the garages are allocated to the individual condominium units, the basic question would appear to be whether such "limited" common elements are to be taxed on a prorated basis among all condominium units under section 718.120 , Florida Statutes. Section 718.120 , Florida Statutes, provides for the separate taxation of condominium parcels as follows: "(1) Ad valorem taxes, benefit taxes, and special assessments by taxing authorities shall be assessed against the condominium parcels and not upon the condominium property as a whole....
...lly reserved as a common element in the declaration of condominium. A review of the declaration of condominium, site plan, and other attachments, therefore, is necessary to determine the existence and status of common elements. The plain language of section 718.120 , Florida Statutes, states that common elements owned by the condominium association or owned jointly by the owners of the condominium parcels are not to be assessed separately for taxes or special assessments....
...4 In that case a condominium association held title to boat dock spaces and was authorized to assign them to unit owners in the condominium for consideration. Upon assignment, the dock space became a limited common element appurtenant to the unit to which it was assigned. Citing sections
193.023 (5) and
718.120 (1), Florida Statutes, the department concluded that the proportionate or fractional share of the value of a limited common element should be assessed to the parcel to which it is appurtenant, i.e....
CopyPublished | District Court of Appeal of Florida | 1983 Fla. App. LEXIS 25264
respective units in the condominium pursuant to section 718.-120(1), Florida Statutes (1981) which provides:
CopyPublished | District Court of Appeal of Florida | 12 Fla. L. Weekly 2059, 1987 Fla. App. LEXIS 10005
concluded that his assessment was governed by section
718.120, Florida Statutes (1981), which concerns assessment
CopyPublished | Florida 5th District Court of Appeal | 2004 Fla. App. LEXIS 4335, 2004 WL 689285
...A court's duty is to "construe tax statutes in favor of taxpayers where an ambiguity may exist." Harbor Ventures, Inc. v. Hutches,
366 So.2d 1173, 1174 (Fla.1979) (citations omitted). The Legislature has specifically provided for assessment of timeshare estates in section
718.120, Florida Statutes, which is entitled "Separate taxation of condominium parcels; survival of declaration after tax sale; assessment of timeshare estates." Specifically, the Legislature has declared in section
718.120(3), Florida Statutes, that "[c]ondominium property divided into fee timeshare real property shall be assessed for purposes of ad valorem taxes and special assessments as provided in s....
