Bill > S0276

This bill introduces new property tax benefits for long-term homeowners and permanent residents in Florida by creating two key assessment mechanisms. First, the bill establishes that homeowners who have used their property as a permanent residence for 20 years or more will have their property assessed at the value established in the 20th year of ownership, with that assessment value locked in as long as they continue to receive the homestead exemption. Second, the bill creates a new homestead exemption for individuals who have owned and used real property as their permanent residence for 30 years or more, providing them with a 50 percent exemption on ad valorem taxes (excluding school district levies). The bill allows periods of ownership and residency on multiple properties to be aggregated to meet these time requirements, and requires property appraisers to maintain records verifying eligibility. Property owners must have paid all required ad valorem taxes and meet the residency and ownership periods as of January 1 of the tax year for which the exemption is claimed. The provisions of this bill are set to first apply to the 2027 tax roll, and its implementation is contingent upon the approval of a corresponding constitutional amendment. The Department of Revenue is authorized to adopt emergency rules to administer the new provisions.

https://www.flsenate.gov/Session/Bill/2026/276