FL S1064

Exempts tangible personal property from ad valorem taxation if assessed value is greater than $25,000 but less than $50,000, effective for tax years beginning January 1, 2013.

Maintains existing $25,000 exemption on assessed value of tangible personal property subject to ad valorem taxation.

Authorizes counties and municipalities to provide additional tangible personal property tax exemptions by ordinance, subject to general law.

Proposes amendments to Section 3 of Article VII and creates Section 32 of Article XII of the State Constitution, requiring voter approval at a general or special election.

Changes constitutional language from "shall be" to "is" regarding municipal property exemptions and adds clarifying comma in reference to educational, literary, scientific, religious, and charitable purposes.