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FL S0126
Joint Resolution
AI Summary
- Proposes a Florida constitutional amendment to increase the just value limit of homestead property eligible for an additional tax exemption from $250,000 to $300,000 for qualifying senior, low-income, long-term residents
- Eligible homeowners must be age 65 or older, have maintained permanent residence on the property for at least 25 years, and have a household income not exceeding $20,000
- Counties and municipalities would be authorized by general law to grant the exemption, which equals the full assessed value of the qualifying property, through local ordinance
- The amendment would be submitted to Florida voters for approval at the next general election or an earlier special election, with an effective date of January 1, 2025
- Sponsored by Senator Avila as Senate Joint Resolution 126 during the 2023 legislative session
Legislative Description
Homestead Tax Exemption for Certain Senior, Low-income, Long-term Residents
Last Action
Died in Finance and Tax
5/5/2023
Committee Referrals
Finance and Tax2/15/2023
Full Bill Text
No bill text available