The bill amends section 193.155 of the Florida Statutes, which pertains to the assessment of homestead property. The key change involves reducing the maximum increase in assessed value for homestead properties from three percent to one and one-half percent annually. This adjustment aims to provide greater financial relief to homeowners by limiting the growth of property taxes based on assessed values.

Additionally, the bill specifies that the new provisions will take effect contingent upon the approval of a related amendment to the State Constitution, as proposed by HJR 67 or a similar resolution. This means that the changes to the assessment limits will only be implemented if the constitutional amendment is approved in the next general election or an earlier special election authorized by law.

Statutes affected:
H 69 Filed: 193.155