summary
Introduced
12/13/2023
12/13/2023
In Committee
Crossed Over
Passed
Dead
03/08/2024
03/08/2024
Introduced Session
2024 Regular Session
Bill Summary
A joint resolution proposing an amendment to Section 4 of Article VII and the creation of a new section in Article XII of the State Constitution to increase the period of time during which the accrued benefit from specified limitations on homestead property tax assessments may be transferred from a prior homestead to a new homestead, revising the calculation of such transfer, and providing an effective date.
AI Summary
This Joint Resolution proposes an amendment to the Florida Constitution to enhance the "portability" of homestead property tax benefits, often referred to as "Save Our Homes" benefits. Currently, when a homeowner moves to a new homestead, they can transfer the accrued tax savings from their previous home to the new one, but this transfer must typically occur within three years. This resolution seeks to extend that transfer period to four years, giving homeowners more time to relocate and still benefit from their accumulated tax assessment limitations. Additionally, it revises how this transferred benefit is calculated, aiming to simplify the process and potentially adjust the amount that can be transferred, with the changes set to take effect on January 1, 2025.
Sponsors (1)
Last Action
Withdrawn prior to introduction (on 12/15/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.flsenate.gov/Session/Bill/2024/879 |
| BillText | https://www.flsenate.gov/Session/Bill/2024/879/BillText/Filed/PDF |
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