Bill > H0067

This joint resolution proposes an amendment to the Florida State Constitution that would reduce the maximum annual increase in homestead property assessments from 3% to 1.5%. The proposed change would take effect on January 1, 2027, and affects how property values are calculated for tax purposes. Currently, homestead property assessments can increase by up to 3% annually or by the change in the Consumer Price Index (CPI), whichever is lower. The new amendment would lower this cap to 1.5%, potentially providing financial relief to homeowners by slowing the rate at which their property's taxable value can grow. The resolution maintains existing provisions that ensure no assessment can exceed the property's just value, and it includes special provisions for new homesteads, properties after ownership changes, and improvements. The ballot language will clearly explain that this is a constitutional amendment reducing the annual assessment increase for homestead properties from 3% to 1.5%, giving voters a straightforward understanding of the proposed change.

https://www.flsenate.gov/Session/Bill/2026/67