The joint resolution proposes an amendment to the Florida State Constitution that introduces a new homestead exemption for property taxes, specifically for levies other than school levies. This exemption would be equal to 25% of the remaining assessed value of the property after applying existing exemptions. Additionally, the resolution seeks to prohibit counties and municipalities from reducing their total funding for law enforcement services below the amounts budgeted in either the 2025-2026 or 2026-2027 fiscal years, whichever is higher. The proposed changes are set to take effect on January 1, 2027, and will be submitted to voters for approval at the next general election or an earlier special election.

The resolution outlines specific adjustments to the existing homestead exemption provisions, including annual inflation adjustments based on the Consumer Price Index. It also emphasizes that no individual or family unit can receive more than one exemption and establishes criteria for additional exemptions for certain groups, such as veterans and seniors. The overall aim of the resolution is to provide tax relief to homeowners while ensuring stable funding for local law enforcement agencies.