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FL H7017
Joint Resolution
Status
Passed
3/21/2024
Primary Sponsor
State Affairs Committee
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AI Summary
- Proposes an amendment to the Florida State Constitution (Article VII, Section 6) to require annual inflation adjustments to the $25,000 homestead exemption that applies to non-school district levies on assessed value between $50,000 and $75,000
- Adjustments would occur each January 1 based on the percent change in the Consumer Price Index for All Urban Consumers (CPI-U), but only when the percent change is positive (no downward adjustments)
- Requires any future homestead exemptions added to the constitution after January 1, 2025, that apply solely to non-school district levies, to also receive automatic annual CPI-based inflation adjustments beginning the year after their effective date
- Must 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, if approved
- Does not apply to the first $25,000 homestead exemption (which covers all levies including school district levies) or to school district tax levies
Legislative Description
Annual Adjustment to Homestead Exemption Value
Last Action
Signed by Officers and filed with Secretary of State
3/21/2024
Committee Referrals
State Affairs1/13/2024
Full Bill Text
No bill text available