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. The resolution outlines specific provisions for how assessments will be calculated and adjusted, including annual limits on increases based on either a fixed percentage or the Consumer Price Index.

If approved by voters, the amendment will take effect on January 1, 2027. The resolution also includes a statement that will be placed on the ballot, informing voters about the proposed changes to the assessment of homestead property for low-income seniors. This initiative reflects a commitment to providing financial relief to a vulnerable segment of the population, ensuring that they can maintain their homes without facing prohibitive tax increases.