The bill CS/CS/HB 1259 introduces new provisions for property tax benefits in Florida, particularly for residential properties under long-term leases and first-time homesteaders. It establishes section 196.034, which provides an exemption from all taxation for properties rented under bona fide leases of six months or more, with a cap on assessed valuation at $25,000. Applicants for this exemption must file annually by March 1 and submit necessary documentation, including the homestead address and a copy of the lease. Additionally, the bill creates a new category for "first-time Florida homesteaders," allowing them to receive an additional homestead exemption equal to 50% of the property's just value for five years, subject to specific conditions.

The bill also amends section 196.011, requiring applicants for various tax exemptions to provide specified information, including social security numbers. It clarifies definitions and requirements for property assessments and exemptions, while allowing the Department of Revenue to adopt emergency rules for effective implementation. The new provisions will take effect following the approval of a related constitutional amendment at the next general election, aiming to enhance property tax relief for eligible homeowners while ensuring compliance with filing deadlines and documentation requirements.

Statutes affected:
H 1259 Filed: 196.011, 193.1554, 194.032
H 1259 c1: 196.011, 193.1554, 194.032
H 1259 c2: 196.011, 193.1554, 194.032