Bill > H0903

This joint resolution proposes a constitutional amendment to reduce the maximum annual increase in assessed value for nonhomestead properties from 10% to 3%. The amendment specifically affects real property that is not subject to homestead exemptions, such as commercial properties, rental properties, and second homes. Currently, these properties can have their assessed value increased by up to 10% annually, but the proposed change would limit that increase to 3%. The amendment is set to take effect on January 1, 2027, which gives property owners and local governments time to prepare for the change. The purpose of this resolution is to provide more predictability and potentially lower tax burdens for property owners by constraining how quickly property assessments can rise. When voters see this on the ballot, they will be asked to approve or reject a constitutional amendment that would reduce the maximum annual assessment increase for non-homestead properties, with the goal of providing some relief from rapidly rising property valuations.

Budget and Finance

https://www.flsenate.gov/Session/Bill/2026/903