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FL S0976
Joint Resolution
AI Summary
- Proposes a Florida constitutional amendment allowing counties to reduce the assessed value of homestead property for portions used as living quarters for the owner's parent or grandparent who is 62 years of age or older
- Expands the existing provision beyond just assessed value increases from new construction or reconstruction to include reductions for existing portions of the property already used for such living quarters
- Eliminates the current cap on the reduction, which is presently limited to the lesser of the increase in assessed value from construction/reconstruction or 20% of the total assessed value of the improved property
- Would be submitted to Florida voters for approval at the next general election or an earlier special election specifically authorized by law
- If approved by voters, the amendment would take effect January 1, 2025
Legislative Description
Reduction of Assessed Value
Last Action
Died in Finance and Tax
3/8/2024
Committee Referrals
Finance and Tax1/23/2024
Full Bill Text
No bill text available