Bill > S0280

This bill modifies Florida's homestead property assessment rules by introducing a new limitation on property value increases when ownership changes. Specifically, if a property with an assessed value under $500,000 is acquired by someone eligible for a homestead exemption, the property's assessed value cannot increase by more than 150 percent of its previous year's value. This provision aims to provide some protection against significant property tax increases when homestead property changes hands. The bill preserves existing exemptions for transfers between certain family members, such as transfers between spouses, transfers to surviving spouses or minor children, and transfers where the homestead exemption remains with the same individuals. The bill's implementation is contingent upon the approval of a related constitutional amendment, either at the next general election or an earlier special election, ensuring that the statutory change aligns with potential constitutional changes regarding property assessments.

https://www.flsenate.gov/Session/Bill/2026/280