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FL H1503
Bill
Status
Failed
3/14/2022
Primary Sponsor
Local Administration and Veterans Affairs
Click for details
AI Summary
- Amends s. 196.031, F.S., to provide for periodic increases to the additional homestead exemption applied to assessed value greater than $50,000 (currently capped at $25,000 for non-school district levies)
- Beginning January 1, 2023, the additional exemption shall equal the greater of the prior year's amount or the prior year's amount adjusted by the percentage change in the Federal Housing Finance Agency's All-Transactions House Price Index for Florida (Not Seasonally Adjusted), based on the most recent 4-quarter period ending September 30
- The additional exemption must be recalculated on January 1, 2025, and every 5 years thereafter using the same methodology
- Takes effect only upon voter approval of the constitutional amendment proposed by HJR 923 (or a substantially similar joint resolution) at the November 2022 general election or an earlier authorized special election
Legislative Description
Ad Valorem Taxation
Last Action
Died in Ways & Means Committee
3/14/2022
Committee Referrals
Ways and Means Committee1/26/2022
Local Administration and Veterans Affairs Subcommittee1/16/2022
Full Bill Text
No bill text available