This bill amends Florida Statutes to enhance homestead property tax benefits for long-term owners and permanent residents. It introduces provisions allowing properties to be assessed at less than just value if the owner has used the property as their permanent residence for 20 years or more, with the assessed value capped at the amount established as of January 1 of the 20th year of ownership and residency. The bill also allows for the aggregation of ownership and residency periods across multiple homestead properties to meet the 20-year requirement. Additionally, it mandates property appraisers to maintain specific records and authorizes the Department of Revenue to adopt emergency rules regarding these assessments.

Furthermore, the bill creates a new long-term owner and permanent resident homestead exemption for individuals who have held legal title to their property for 30 years or more, granting them a 50% exemption on assessed value for ad valorem taxes, excluding school district levies. It outlines procedures for correcting erroneous assessments and provides a framework for property appraisers to notify property owners of any tax liens due to improper assessments. The amendments will first apply to the 2027 tax roll and take effect contingent upon the approval of a related constitutional amendment.

Statutes affected:
S 276 Filed: 193.155, 196.011