The joint resolution proposes an amendment to Section 3 of Article VII and the creation of a new section in Article XII of the Florida State Constitution, aimed at establishing a tax exemption for real property. Specifically, it seeks to create a $100,000 exemption from the assessed value of real property for all levies, which would be applicable to property owners across the state. This amendment is intended to provide financial relief to homeowners and is set to take effect on January 1, 2027, pending approval from the state's electors during the next general election or a special election authorized by law.

In addition to the proposed exemption, the resolution outlines existing provisions regarding tax exemptions for municipalities, educational and charitable purposes, and various other categories such as historic preservation and renewable energy. The amendment emphasizes the importance of local governance by allowing counties and municipalities to grant specific tax exemptions through ordinances, subject to voter approval in referendums. Overall, the resolution aims to enhance tax relief measures for property owners while maintaining local control over tax exemption policies.