FL S0314

Prohibits assessed value increases for homestead and specified nonhomestead property when just value decreases, effective January 1, 2013.

Reduces the annual assessment increase cap for nonhomestead residential property from 10 percent to 7 percent, effective January 1, 2013.

Establishes an additional homestead exemption for non-school district levies equal to 30 percent of just value between $75,000-$200,000, plus 15 percent of just value between $200,000-$400,000, effective January 1, 2013.

Allows the Legislature to adjust the percentage or value limits of the additional homestead exemption by general law but prohibits reducing it below the amounts specified in the amendment.

Delays the repeal of assessment limitation provisions for nonhomestead property from 2019 to 2023.