Bill > S0274

This joint resolution proposes two significant property tax benefits for long-term homeowners in the state. First, it establishes that for homeowners who have owned and continuously resided in their property for 20 years or more, the assessed value of the property will be "frozen" at the amount established in the 20th year of ownership and will not increase further as long as the homestead exemption continues to apply. Second, the resolution creates a new tax exemption for homeowners who have owned and permanently resided in their property for 30 years or more, providing them with an additional 50 percent exemption on property taxes, excluding school district levies. To qualify for these benefits, homeowners must meet specific residency and ownership requirements, and periods of ownership on multiple properties can be aggregated to meet the time thresholds. The proposed constitutional amendments would take effect on January 1, 2027, and are designed to provide tax relief for long-term property owners who have maintained a consistent permanent residence in the state.

https://www.flsenate.gov/Session/Bill/2026/274