FL S1738

Authorizes county boards of commissioners and municipal governing authorities to adopt ordinances granting an additional homestead tax exemption to seniors age 65 and older who maintain permanent residency on the property.

Creates two exemption tiers: up to $50,000 for seniors with household income not exceeding $20,000, and an exemption equal to the full assessed value for seniors who have maintained residency for at least 20 years with household income not exceeding $15,000.

Requires annual cost-of-living adjustments to the $20,000 and $15,000 income limitations beginning January 1, 2001 and January 1, 2014 respectively, based on changes in the consumer-price index.

Mandates that taxpayers claiming the exemption submit a sworn statement of household income annually by March 1 to the property appraiser, supported by federal tax returns and wage statements.

Takes effect upon voter approval of Senate Joint Resolution 1740 or a similar resolution at the November 2012 general election or an earlier authorized special election.