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FL H1103
Joint Resolution
Status
Failed
3/8/2024
Primary Sponsor
Mike Caruso
Click for details
AI Summary
- Proposes an amendment to the Florida State Constitution (Article VII, Section 4) to allow newly established homestead property to be assessed at less than just value if the property was previously assessed as nonhomestead property and ownership has not changed
- Caps the annual increase in assessed value for qualifying newly established homestead properties at 10% of the prior year's assessment, rather than resetting to full just value upon homestead establishment
- Requires three conditions for eligibility: the property must have been assessed as nonhomestead (under subsection (g) or (h)) the prior January 1, the owner must be the same person, and there must have been no change of ownership between the prior assessment and homestead establishment
- Would be submitted to Florida voters for approval at the next general election or an authorized special election as a constitutional amendment
- Takes effect January 1, 2025, if approved by voters
Legislative Description
Homesteads
Last Action
Died in Ways & Means Committee
3/8/2024
Committee Referrals
Ways and Means Committee1/9/2024
Full Bill Text
No bill text available