The joint resolution proposes an amendment to the Florida State Constitution that aims to protect low-income seniors by prohibiting the assessed value of their homestead property from exceeding a specified amount. This amendment would allow for changes to the assessed value only under certain conditions, ensuring that these seniors are not burdened by rising property taxes as their income may not keep pace with increasing property values. The proposed changes would be incorporated into Section 4 of Article VII and a new section in Article XII of the Constitution.

If approved by voters, the amendment would take effect on January 1, 2027. It includes provisions for the annual adjustment of assessments, which would be limited to a maximum increase of either 3% or the percentage change in the Consumer Price Index, whichever is lower. The resolution emphasizes the importance of maintaining affordable housing for low-income seniors while ensuring that the assessed value of their homesteads remains fair and manageable.