Bill > S0282

This joint resolution proposes a constitutional amendment to provide tax assessment relief for small businesses by limiting increases in the assessed value of their commercial real property. Specifically, for real property owned and used by a small business (as defined by general law), the assessed value would be initially set at just value when the property first qualifies, and then subsequent annual increases would be capped at the lower of either 3 percent or the percentage change in the Consumer Price Index (CPI). The CPI is an economic indicator that measures the average change in prices paid by urban consumers for goods and services. The amendment is designed to help small businesses manage their property tax burden by preventing significant year-over-year increases in property assessments. The proposed change would take effect on January 1, 2027, and would be subject to voter approval through a ballot measure. This resolution aims to provide economic support to small businesses by offering a predictable and potentially lower property tax assessment mechanism.

https://www.flsenate.gov/Session/Bill/2026/282