Florida Legislature Proposes Limiting Property Tax Assessment Increases, Raising Homestead Exemptions

The Florida Legislature adopted a joint resolution proposing amendments to the Florida Constitution for submission to the voters. The proposal includes: 1) limiting changes in ad valorem property tax assessments for all levies for non-homestead property other than school district levies to 10 percent before Jan. 1, 2027, and 5 percent beginning Jan. 1, 2027; and 2) providing a certain homestead exemption for all levies, other than school district levies, of $150,000 beginning Jan. 1, 2027, and $250,000 beginning Jan. 1, 2028, with further increases tied to inflation. If approved, the amendments would take effect on Jan. 1, 2027. [H.J.R. ...