CHANGE OF OWNERSHIP NOTICE - What is a Section 193.1556 "Change of Ownership" notice and when do I need to file one?
The Legislature adopted Section 193.1556, Florida Statutes, in 2008 in response to the voter passage of the constitutional amendment which granted a 10% annual assessment increase cap to all non-homesteaded property.
A change in ownership requires the assessment to be reset to full market value. No separate notice to the Property Appraiser is required when a deed is recorded. However, if the transfer is one without any deed (i.e., the private sale of controlling interest in a business owning such property), then the new owner must give written notice to the Property Appraiser. Click here to view the Department of Revenue's proposed DR-430 Notice Form. This notice requirement ONLY applies to non-homesteaded properties.