FL S1254

Adds exceptions to "change of ownership" definition for homestead properties, including transfers between joint tenants with rights of survivorship and transfers upon death of joint tenants if surviving owner(s) continue receiving homestead exemption.

Requires changes, additions, or improvements to homestead, nonhomestead residential, and nonresidential properties damaged or destroyed by misfortune or calamity to be assessed upon substantial completion using the assessed value from January 1 immediately before the damage or destruction occurred.

Exempts from increased assessed value any improvements that do not exceed 110 percent of pre-damage square footage or do not exceed 1,500 total square feet for homestead and nonhomestead residential property; nonresidential property improvements must not exceed 110 percent of pre-damage square footage and must not change the property's character or use.

Requires improvements exceeding the exemption thresholds to be assessed at just value for the excess portion and reassessed annually in subsequent years.

Applies to improvements commenced within 3 years after January 1 following property damage or destruction, with special 5-year provision for Hurricane Michael damage, effective January 1, 2021.