526 So. 2d 677 | Fla. | 1988
We review Spanish River Resort Corporation v. Walker, 497 So.2d 1299 (Fla. 4th DCA 1986), to answer two certified questions of great public importance. Art. V, § 3(b)(4), Fla. Const.
The Spanish River Resort is an eleven story building containing seventy-two units converted in 1980 to a condominium authorizing time-sharing pursuant to section 718.103(19), Florida Statutes (1983). Not all of the units in the development were converted to time-share estates; some remain as standard condominium units. Using the market approach to value, the
I. UNDER THE FACTS OF THIS CASE, WAS THE PROPERTY APPRAISER CORRECT IN ASSESSING EACH INDIVIDUAL TIMESHARE “WEEK” OR SHOULD THAT ASSESSMENT HAVE BEEN RESTRICTED TO THE FAIR MARKET VALUE OF THE ENTIRE CONDOMINIUM APARTMENT UNIT WITHOUT REFERENCE TO ITS SUBDIVISION INTO TIMESHARE INTERESTS?
II. ARE WE CORRECT IN UPHOLDING THE CONSTITUTIONALITY OF SECTION 192.037, FLORIDA STATUTES (1983)?
497 So.2d at 1306.
We recently answered the first question in the affirmative in Oyster Pointe Resort Condominium Association, Inc. v. Nolte, 524 So.2d 415 (Fla.1988). This court has also answered the second question in the affirmative in Day v. High Point Condominium Resorts, Ltd., 521 So.2d 1064 (Fla.1988). We approve the decision of the fourth district on the authority of Oyster Pointe and Day.
It is so ordered.