summary
Introduced
02/26/2025
02/26/2025
In Committee
04/25/2025
04/25/2025
Crossed Over
04/25/2025
04/25/2025
Passed
Dead
06/16/2025
06/16/2025
Introduced Session
2025 Regular Session
Bill Summary
An act relating to a property tax benefits for residential properties; creating s. 193.1553, F.S.; providing that property that receives a certain tax exemption shall be assessed in a specified manner; providing that changes, additions, and improvements to such property shall be assessed in a specified manner; providing exceptions and alternative assessments; providing construction; requiring property that no longer meets eligibility requirements to be assessed in an alternative manner; providing that erroneous assessments of property may be corrected in a specified manner; requiring the property appraiser to remove certain assessment limitations and exemptions in specified circumstances; requiring the property appraiser to assess certain property and recalculate taxes; requiring payment of certain back taxes, penalties, and interest; requiring the property appraiser to serve notice upon an owner and file a lien in certain circumstances; requiring a specified time period before a lien may be filed; amending s. 196.011, F.S.; requiring the submission of an application containing specified information before receiving specified tax exemptions; creating s. 196.034, F.S.; providing specified tax exemptions for property that meets certain eligibility requirements; providing that certain damaged or destroyed property is eligible for the exemption if specified conditions are met; providing that if such conditions are not met, such property shall be considered abandoned for a specified purpose; creating s. 196.078, F.S.; defining the term "first-time Florida homesteader"; providing construction; providing that every first-time Florida homesteader is entitled to an additional homestead exemption; providing the method for calculating such exemption; providing the duration of such exemption; requiring the exemption to decrease by a specified percentage each year; prohibiting more than one exemption; providing applicability; providing that the property appraiser shall require a person claiming an exemption to complete a certain form by a specified date; requiring a person added to the title to submit certain information to retain such exemption; providing applicability; authorizing the Department of Revenue to adopt emergency rules; providing that such rules are effective for a specified period of time and may be renewed in certain circumstances; providing for future expiration; amending ss. 193.1554 and 194.032, F.S.; conforming provisions to changes made by the act; providing a contingent effective date.
AI Summary
This bill introduces several significant property tax benefits and assessment changes for residential properties in Florida. It creates a new exemption and assessment method for residential properties subject to long-term leases, allowing property owners who own a homesteaded property to receive tax benefits on a separately leased residential property. The bill establishes that such properties can receive an exemption up to $25,000 for the first assessed value and an additional exemption up to $25,000 for assessed values over $50,000, with specific eligibility requirements including that the property must be rented for at least 6 months, cannot be subleased, and the owner must have a separate homesteaded property. The bill also introduces an additional homestead exemption for "first-time Florida homesteaders," which provides a 50% exemption on a property's just value for up to 5 years, with the exemption amount gradually decreasing each year. The legislation includes detailed provisions for how properties are assessed, how changes and improvements are valued, and how errors or fraudulent applications are handled, with specific mechanisms for correcting assessments and potential penalties for misrepresentation. The bill is contingent on the approval of a related constitutional amendment and is designed to provide tax relief and create more flexible property assessment rules for certain residential property owners.
Committee Categories
Budget and Finance, Business and Industry, Housing and Urban Affairs
Sponsors (3)
Other Sponsors (2)
Commerce Committee (H), Ways & Means Committee (H)
Last Action
Died in Rules (on 06/16/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
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