The joint resolution proposes an amendment to the Florida State Constitution that would allow the Legislature to set a cap on the assessed value of homestead properties owned by certain low-income seniors. Specifically, the assessed value for these properties would not be allowed to exceed the value established in the year the senior turns sixty-five. This amendment aims to provide financial relief to low-income seniors by preventing significant increases in property taxes as property values rise.

If approved by voters, the amendment would take effect on January 1, 2027. The resolution outlines the necessary changes to Section 4 of Article VII and introduces a new section in Article XII of the State Constitution to facilitate this policy. The proposed changes will be presented to the electorate for approval during the next general election or a specially authorized election.