FL S0210

Proposes constitutional amendment to Section 4 of Article VII and creation of new section in Article XII to prevent increases in assessed value of homestead property when fair market value decreases.

Modifies homestead assessment provisions to specify that an assessment may not increase if the just value of the property is less than the just value on the preceding January 1.

Maintains existing homestead assessment caps of the lower of 3% annually or the Consumer Price Index change, with assessments never exceeding just value.

Requires submission of amendment to Florida voters at the next general election or earlier special election authorized by law.

Takes effect January 1, 2013, if approved by voters.