The bill amends sections of Florida Statutes related to the assessment of property values, specifically addressing situations where the just value of a property has decreased since the previous assessment. It introduces new provisions that prohibit increases in assessed valuations for homestead, nonhomestead residential, and nonresidential real properties if their just value is less than the just value on the preceding January 1. The bill specifies that the assessed value of homestead property may not increase if the just value has decreased, and similar provisions apply to nonhomestead residential and nonresidential properties, ensuring that property owners are not penalized with higher assessments when their property values decline.

Additionally, the bill outlines the reassessment process for properties that have undergone changes, additions, or improvements, particularly those affected by misfortune or calamity. It establishes criteria for when these properties can be reassessed and how their values should be calculated, ensuring that property owners are treated fairly in the assessment process. The bill includes a contingent effective date, which is tied to the approval of a related constitutional amendment.

Statutes affected:
H 1413 Filed: 193.155, 193.1554, 193.1555