Florida Statute 192.037 | Lawyer Caselaw & Research

The 2024 Florida Statutes

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

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

Annotations, Discussions, Cases:

Cases Citing Statute 192.037

Total Results: 20

Luke Investments v. Camelot Condominium

Court: District Court of Appeal of Florida | Date Filed: 2007-11-28

Citation: 974 So. 2d 433

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

Cason v. FLORIDA DEPT. OF MANAGEMENT SERVS.

Court: Supreme Court of Florida | Date Filed: 2006-11-16

Citation: 944 So. 2d 306, 2006 WL 3313749

Snippet: rejected similar challenges to the statute, section 192.037, Florida Statutes (1983). 527 So.2d at 814 n. 1

Gilreath v. Westgate Daytona, Ltd.

Court: District Court of Appeal of Florida | Date Filed: 2004-04-02

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

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

Ocean 80 Resort Homeowners Ass'n v. Knight

Court: District Court of Appeal of Florida | Date Filed: 1994-02-15

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

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

Amendments to Florida Rules of Criminal Procedure re Sentencing Guidelines

Court: Supreme Court of Florida | Date Filed: 1993-11-30

Citation: 628 So. 2d 1084, 18 Fla. L. Weekly Supp. 617, 1993 Fla. LEXIS 1928, 1993 WL 490876

Snippet: Category 6: Thefts, forgery, fraud: Sections 192.037 and 206.56, chapters 322 and 409, section 370.142

Amendments to Florida Rules of Criminal Procedure

Court: Supreme Court of Florida | Date Filed: 1993-02-11

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

Snippet: * Category 6: Thefts, forgery, fraud: Sections 192.037 and 206.56, chapters 322 and 409, section 370.142

Southards v. Motel Management Co.

Court: District Court of Appeal of Florida | Date Filed: 1992-12-01

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

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

In Re Amend. to Fla. Rules of Cr. Proc.

Court: Supreme Court of Florida | Date Filed: 1992-09-24

Citation: 606 So. 2d 227, 1992 WL 246494

Snippet: Category 6: Thefts, forgery, fraud: Sections 192.037 and 206.56, chapters 322 and 409, section 370.142

In re Amendments to Florida Rules of Criminal Procedure-sentencing Guidelines (rules 3.701 & 3.988)

Court: Supreme Court of Florida | Date Filed: 1991-11-07

Citation: 589 So. 2d 271, 16 Fla. L. Weekly Supp. 725, 1991 Fla. LEXIS 1914, 1991 WL 236191

Snippet: 13(3) Category 6: Thefts, forgery, fraud: Sections 192,037 and 206.56, Cchapters 322 and 409, section 370

Ago

Court: Florida Attorney General Reports | Date Filed: 1990-08-24

Snippet: s. 197.373, F.S., is not applicable. See, ss. 192.037(7) and 197.373(4), F.S., respectively. 9 Section

Markham v. Neptune Hollywood Beach Club

Court: Supreme Court of Florida | Date Filed: 1988-07-07

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

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

Spanish River Resort Corp. v. Walker

Court: Supreme Court of Florida | Date Filed: 1988-04-28

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

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

Oyster Pointe Resort Condo. v. Nolte

Court: Supreme Court of Florida | Date Filed: 1988-03-31

Citation: 524 So. 2d 415

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

Day v. High Point Condo Resorts, Ltd.

Court: Supreme Court of Florida | Date Filed: 1988-01-28

Citation: 521 So. 2d 1064, 1988 WL 6021

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

Oyster Pointe Resort Condominium Ass'n v. Nolte

Court: District Court of Appeal of Florida | Date Filed: 1986-11-19

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

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

Driftwood Management Co. v. Nolte

Court: District Court of Appeal of Florida | Date Filed: 1986-11-19

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

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

Spanish River Resort Corp. v. Walker

Court: District Court of Appeal of Florida | Date Filed: 1986-11-19

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

Snippet: polestar must be section 192.037(1) and (2), Florida Statutes (1983), which states: 192.037 Fee time-share real

High Point Condominium Resorts v. Day

Court: District Court of Appeal of Florida | Date Filed: 1986-08-14

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

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

Hausman v. VTSI, INC.

Court: District Court of Appeal of Florida | Date Filed: 1985-12-26

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

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

GULFSIDE INTERVAL VACS., INC. v. Schultz

Court: District Court of Appeal of Florida | Date Filed: 1985-11-13

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

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