FL S0284

Creates a homestead assessment limitation for school district levy purposes for persons age 65 years or older who have held legal or equitable title to their homestead for at least 25 years, capping assessed value at the amount from January 1 following the date they become eligible.

Allows persons receiving the homestead exemption under s. 196.031 to apply for and receive the assessment limitation, including those holding title jointly with right of survivorship.

Requires property appraisers to serve notice of intent to record a tax lien if they determine an ineligible person was improperly granted the assessment limitation within the preceding 10 years.

Imposes a 50 percent penalty on unpaid taxes for each year and 15 percent annual interest on improperly granted limitations, except when the limitation resulted from clerical error or omission by the property appraiser.

Provides property owners 30 days to pay applicable taxes, penalties, and interest before a lien is filed; the limitation applies to the 2021 property tax roll and takes effect contingent on approval of a related constitutional amendment in November 2020.