FL H1003

Proposes a constitutional amendment to exempt tangible personal property valued between $25,000 and $50,000 from ad valorem taxation, effective January 1, 2013.

Authorizes counties and municipalities to provide additional tangible personal property tax exemptions through local ordinances, subject to general law provisions.

Maintains existing exemption of $25,000 of assessed value for all tangible personal property, with the new exemption applying to property above that threshold but below $50,000.

Applies to all local government ad valorem taxes including those levied by counties, municipalities, school districts, and other local governments.

Requires voter approval through the next general election for the amendment to take effect.