Bill > S1608

This bill amends Florida law to prevent property tax assessments from increasing if the property's "just value," which refers to its fair market value, has decreased since the previous year. Specifically, it modifies provisions related to homestead property (primary residences), nonhomestead residential property, and certain nonresidential real property. For homestead properties, the assessed value will not go up if its just value is lower than it was on the preceding January 1. Similarly, for nonhomestead residential and nonresidential real property, their assessed values will not increase if their just value has declined, with an exception for school district levies. The bill also includes provisions for how property damaged or destroyed by misfortune or calamity is reassessed, generally allowing for reconstruction within certain square footage limits without immediate full reassessment. The effective date of this bill is contingent upon the approval of a related constitutional amendment.

https://www.flsenate.gov/Session/Bill/2026/1608