The bill amends section 193.155 of the Florida Statutes, which pertains to the assessment of homestead property. The key change is the reduction of the maximum increase in assessed value for homestead properties from three percent to one and one-half percent annually. This adjustment aims to provide more stability and predictability for homeowners regarding their property tax assessments.

Additionally, the bill includes a contingent effective date, which stipulates that the changes will take effect only if a related amendment to the State Constitution, proposed by HJR 67 or a similar resolution, is approved in the next general election or an earlier special election. This ensures that the implementation of the new assessment limits is aligned with broader constitutional changes regarding property taxation.

Statutes affected:
H 69 Filed: 193.155