FL S0616

Proposes constitutional amendment to Section 9 of Article VII limiting combined ad valorem taxes on any parcel of real property to a maximum of 1.35 percent of the parcel's highest taxable value.

Defines "taxable value" as the value of real property to which millage rates are applied.

Exempts from the 1.35 percent cap ad valorem taxes levied for payment of bonds issued under Section 12 and ad valorem taxes levied for periods of 2 years or less if authorized by voter approval.

Requires revenues collected in excess of the 1.35 percent cap to be distributed among taxing authorities as provided by general law.

Modifies existing constitutional language regarding ad valorem tax millage limits to make them permissive rather than mandatory.