The joint resolution proposes an amendment to the Florida State Constitution that aims to increase the homestead exemption from $25,000 to $75,000 for all tax levies, excluding school district levies. This amendment also includes provisions for annual adjustments to the exemption amount based on inflation, utilizing the Consumer Price Index. The resolution outlines the eligibility criteria for homeowners and specifies that the increased exemption will not apply to school district levies, which will be removed from the exemption framework.

If approved by voters in the next general election or a special election, the amendment will take effect on January 1, 2027. The resolution includes a statement to be placed on the ballot, clearly indicating the proposed changes to the homestead exemption and the implications for property owners in Florida. This initiative seeks to provide greater tax relief to homeowners while ensuring that the exemption amount remains relevant in the context of inflation.