This bill amends section 193.155 of the Florida Statutes, which pertains to the assessment of changes, additions, or improvements to homestead properties. The key change is the introduction of a new provision that states if the total just value of changes, additions, or improvements to a homestead property is less than $100,000, the assessment of the added value will be calculated by multiplying the percentage of the property's assessed value before the changes by the just value of the changes. Additionally, the bill clarifies that this new assessment method does not apply to changes that replace a substantial portion of the property or increase its total square footage by more than 25 percent.

The bill also removes previous language that outlined specific assessment procedures for properties damaged or destroyed by misfortune or calamity, streamlining the assessment process for such properties. The effective date for this act is set for July 1, 2026. Overall, the bill aims to simplify the assessment process for homestead properties while providing specific guidelines for lower-value improvements.