Bill > S0286

This bill modifies how changes, additions, or improvements to homestead properties are assessed for tax purposes in Florida. Under the new provisions, if the total value of improvements is less than $100,000, the assessment of the added value will be calculated by multiplying the property's existing assessment ratio (its assessed value divided by its just value) by the just value of the improvements. The bill specifically excludes major renovations that replace all or a substantial portion of the property or increase the total square footage by more than 25 percent from this calculation method. The bill eliminates previous complex rules about assessing properties damaged by misfortune or calamity, which had detailed provisions about square footage limitations and reassessment. By simplifying the assessment process and providing a more standardized approach for smaller improvements, the bill aims to make property tax calculations more straightforward for homeowners. The changes will take effect on July 1, 2026, giving property appraisers and homeowners time to prepare for the new assessment method.

https://www.flsenate.gov/Session/Bill/2026/286