FL H0027

Proposes constitutional amendment to prohibit increases in assessed value of homestead property when the just value of the property decreases.

Modifies Section 4 of Article VII to add new language stating "An assessment may not increase if the just value of the property is less than the just value of the property on the preceding January 1."

Creates Section 31 of Article XII to establish effective date of January 1, 2011 for the amendment.

Amendment requires voter approval at the next general election or earlier special election authorized by law.

Applies only to homestead property; does not change assessment rules for other residential or commercial property types.