FL S0650

Revises the homestead tax exemption for persons age 65 and older that counties or municipalities may adopt by ordinance.

Changes the exemption in subsection (a) to up to $50,000 for a person age 65 or older with a household income not exceeding $20,000 who maintains their permanent residence on the property.

Modifies the exemption in subsection (b) to allow exemption of the full assessed value for properties with just value less than $250,000, where just value is determined at the time of the owner's initial application, if the owner is age 65 or older, has maintained the permanent residence for at least 25 years, and meets the income requirement from subsection (a).

Takes effect upon approval of Senate Joint Resolution ____ (or similar resolution) by Florida voters at the November 2016 general election or an earlier authorized special election.