Florida Statutes
Fla. Stat. § 192.037 (2025)
Fee timeshare real property; taxes and assessments; escrow.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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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.
Arrestable Offenses under F.S. 192.037
M = misdemeanor · F = felony · degree: F=1st S=2nd T=3rd§192.037(6f)EMBEZZLEFAIL TO ESTABLISH OR USE ESCROW ACCOUNT
Notes of Decisions
Cited in 18
cases, 1985–2007 · leading case: Oyster Pointe Resort Condo. v. Nolte, 524 So. 2d 415 (Fla. 1988).
Oyster Pointe Resort Condo. v. Nolte, 524 So. 2d 415 (Fla. 1988). “2d 740 and 1306 (1986), declaring section 192.037, Florida Statutes (1983), valid upon the authority of Spanish River Resort Corp.”
Spanish River Resort Corp. v. Walker, 497 So. 2d 1299 (Fla. 4th DCA 1986). “Until modified or substantially changed by the Legislature, the Property Appraisers must follow this procedure for appraising time share estates and the language in 192.037(2), Florida Statutes.”
Markham v. Neptune Hollywood Beach Club, 527 So. 2d 814 (Fla. 1988). “NOTES [1] We have recently upheld the constitutionality of § 192.037, Fla. Stat. (1983) in Day v. High Point Condominium Resorts, Ltd.”
Day v. High Point Condo Resorts, Ltd., 521 So. 2d 1064 (Fla. 1988). “2d 508 (5th DCA 1986), holding unconstitutional section 192.037, Florida Statutes (1985), which sets forth the method for ad valorem taxation of fee time-share units.”
Cason v. Florida Dept. of Mgmt. Servs., 944 So. 2d 306 (Fla. 2006). “[4] Unlike State-owned property, which is immune from taxation, property of municipalities is subject to taxation because municipalities are not subdivisions of the state. City of Gainesville, 918 So.”
Gulfside Interval Vacs., Inc. v. Schultz, 479 So. 2d 776 (Fla. 2d DCA 1985). “The appellees assessed the condominium for ad valorem taxes for the year 1983 pursuant to section 192.037, Florida Statutes (1983).”
High Point Condo. Resorts v. Day, 494 So. 2d 508 (Fla. 5th DCA 1986). “This is a case questioning the constitutionality of section 192.037, Florida Statutes, which sets out a method for assessing and collecting ad valorem taxes on fee time-share property.”
Hausman v. VTSI, INC., 482 So. 2d 428 (Fla. 5th DCA 1985). “§ 192.037(2), Fla. Stat. (1983). Tax statutes, however, operate only prospectively unless legislative intent to the contrary clearly appears.”
Neptune Hollywood Beach Club, Inc. v. Markham, 473 So. 2d 691 (Fla. 4th DCA 1985). “The trial court dismissed with prejudice plaintiffs' complaint challenging the constitutionality of section 192.037, Florida Statutes (1983), which deals with the assessment of taxes on time-share projects.”
Inn Grp. Assocs. v. Booth, 593 A.2d 49 (R.I. 1991). “” Fla. Stat. Ann. § 192.037 (2) (West 1989).”
Southards v. Motel Mgmt. Co., 610 So. 2d 524 (Fla. 3d DCA 1992). “First, Section 192.037, Florida Statutes (1991), has been held facially constitutional as against an attack based on due process and equal protection grounds.”
Gilreath v. Westgate Daytona, Ltd., 871 So. 2d 961 (Fla. 5th DCA 2004). “The Legislature has enacted section 192.037, Florida Statutes, which governs how timeshare property is assessed for purposes of ad valorem taxation.”
— 192.037(1) — 4 cases
Spanish River Resort Corp. v. Walker, 497 So. 2d 1299 (Fla. 4th DCA 1986). “Until modified or substantially changed by the Legislature, the Property Appraisers must follow this procedure for appraising time share estates and the language in 192.037(2), Florida Statutes.”
High Point Condo. Resorts v. Day, 494 So. 2d 508 (Fla. 5th DCA 1986). “This is a case questioning the constitutionality of section 192.037, Florida Statutes, which sets out a method for assessing and collecting ad valorem taxes on fee time-share property.”
Southards v. Motel Mgmt. Co., 610 So. 2d 524 (Fla. 3d DCA 1992). “First, Section 192.037, Florida Statutes (1991), has been held facially constitutional as against an attack based on due process and equal protection grounds.”
Luke Investments v. Camelot Condo., 974 So. 2d 433 (Fla. 2d DCA 2007).
— 192.037(10) — 1 case
Gilreath v. Westgate Daytona, Ltd., 871 So. 2d 961 (Fla. 5th DCA 2004). “The Legislature has enacted section 192.037, Florida Statutes, which governs how timeshare property is assessed for purposes of ad valorem taxation.”
— 192.037(2) — 7 cases
Oyster Pointe Resort Condo. v. Nolte, 524 So. 2d 415 (Fla. 1988). “2d 740 and 1306 (1986), declaring section 192.037, Florida Statutes (1983), valid upon the authority of Spanish River Resort Corp.”
Spanish River Resort Corp. v. Walker, 497 So. 2d 1299 (Fla. 4th DCA 1986). “Until modified or substantially changed by the Legislature, the Property Appraisers must follow this procedure for appraising time share estates and the language in 192.037(2), Florida Statutes.”
Hausman v. VTSI, INC., 482 So. 2d 428 (Fla. 5th DCA 1985). “§ 192.037(2), Fla. Stat. (1983). Tax statutes, however, operate only prospectively unless legislative intent to the contrary clearly appears.”
Driftwood Mgmt. Co. v. Nolte, 497 So. 2d 740 (Fla. 4th DCA 1986).
Oyster Pointe Resort Condo. Ass'n v. Nolte, 497 So. 2d 1306 (Fla. 4th DCA 1986).
— 192.037(3) — 1 case
High Point Condo. Resorts v. Day, 494 So. 2d 508 (Fla. 5th DCA 1986). “This is a case questioning the constitutionality of section 192.037, Florida Statutes, which sets out a method for assessing and collecting ad valorem taxes on fee time-share property.”
— 192.037(4) — 3 cases
Day v. High Point Condo Resorts, Ltd., 521 So. 2d 1064 (Fla. 1988). “2d 508 (5th DCA 1986), holding unconstitutional section 192.037, Florida Statutes (1985), which sets forth the method for ad valorem taxation of fee time-share units.”
Spanish River Resort Corp. v. Walker, 497 So. 2d 1299 (Fla. 4th DCA 1986). “Until modified or substantially changed by the Legislature, the Property Appraisers must follow this procedure for appraising time share estates and the language in 192.037(2), Florida Statutes.”
High Point Condo. Resorts v. Day, 494 So. 2d 508 (Fla. 5th DCA 1986). “This is a case questioning the constitutionality of section 192.037, Florida Statutes, which sets out a method for assessing and collecting ad valorem taxes on fee time-share property.”
— 192.037(5) — 1 case
High Point Condo. Resorts v. Day, 494 So. 2d 508 (Fla. 5th DCA 1986). “This is a case questioning the constitutionality of section 192.037, Florida Statutes, which sets out a method for assessing and collecting ad valorem taxes on fee time-share property.”
— 192.037(7) — 2 cases
Southards v. Motel Mgmt. Co., 610 So. 2d 524 (Fla. 3d DCA 1992). “First, Section 192.037, Florida Statutes (1991), has been held facially constitutional as against an attack based on due process and equal protection grounds.”
High Point Condo. Resorts v. Day, 494 So. 2d 508 (Fla. 5th DCA 1986). “This is a case questioning the constitutionality of section 192.037, Florida Statutes, which sets out a method for assessing and collecting ad valorem taxes on fee time-share property.”
— 192.037(8) — 2 cases
High Point Condo. Resorts v. Day, 494 So. 2d 508 (Fla. 5th DCA 1986). “This is a case questioning the constitutionality of section 192.037, Florida Statutes, which sets out a method for assessing and collecting ad valorem taxes on fee time-share property.”
Southards v. Motel Mgmt. Co., 610 So. 2d 524 (Fla. 3d DCA 1992). “First, Section 192.037, Florida Statutes (1991), has been held facially constitutional as against an attack based on due process and equal protection grounds.”
— 192.037(9) — 5 cases
Spanish River Resort Corp. v. Walker, 497 So. 2d 1299 (Fla. 4th DCA 1986). “Until modified or substantially changed by the Legislature, the Property Appraisers must follow this procedure for appraising time share estates and the language in 192.037(2), Florida Statutes.”
Day v. High Point Condo Resorts, Ltd., 521 So. 2d 1064 (Fla. 1988). “2d 508 (5th DCA 1986), holding unconstitutional section 192.037, Florida Statutes (1985), which sets forth the method for ad valorem taxation of fee time-share units.”
High Point Condo. Resorts v. Day, 494 So. 2d 508 (Fla. 5th DCA 1986). “This is a case questioning the constitutionality of section 192.037, Florida Statutes, which sets out a method for assessing and collecting ad valorem taxes on fee time-share property.”
Southards v. Motel Mgmt. Co., 610 So. 2d 524 (Fla. 3d DCA 1992). “First, Section 192.037, Florida Statutes (1991), has been held facially constitutional as against an attack based on due process and equal protection grounds.”
Luke Investments v. Camelot Condo., 974 So. 2d 433 (Fla. 2d DCA 2007).
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