This bill amends Florida Statutes regarding ad valorem taxation, specifically focusing on homestead exemptions and property exemptions for religious organizations. It introduces a new provision allowing taxpayers who have filed for a homestead exemption to rescind their application by notifying the property appraiser between August 1 and September 15 of the same taxable year. To qualify for rescission, certain conditions must be met, including continuous ownership of the property since the previous year's assessment. If a taxpayer rescinds their application, the property appraiser is required to adjust the tax roll accordingly before certification to the tax collector.

Additionally, the bill revises the criteria under which property owned by exempt organizations can qualify for certain exemptions. It replaces the term "a religious purpose" with "an exempt purpose" and defines "religious activities" to include various uses of property related to public worship. The Department of Revenue is authorized to adopt emergency rules to implement these changes, which will first apply to the 2026 tax roll. The act is set to take effect on July 1, 2025.