The bill amends Florida Statutes regarding ad valorem taxation, specifically focusing on the Save-Our-Homes portability benefits for married couples establishing a joint homestead. It revises the assessment process for homestead properties, allowing married couples who each received a homestead exemption prior to their marriage to combine the assessed values of their previous homesteads. The reduction from just value for their new homestead is capped at $500,000, reflecting the combined differences in assessed values of their prior homesteads. Additionally, the bill clarifies that if two or more individuals who have received homestead exemptions establish a new homestead together, the reduction is limited to the higher assessed value of the previous homesteads.

Furthermore, the bill introduces a requirement that any increase in the prior year's adopted millage rate must be approved by a two-thirds vote of the governing body of the respective county, municipality, or independent district. The Department of Revenue is authorized to adopt emergency rules to implement these amendments, which will take effect upon becoming law, with certain provisions applying to the 2027 tax roll. The bill also includes a provision for expiration of the emergency rules by July 1, 2028.

Statutes affected:
H 215 Filed: 193.155