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FL H0775
Bill
Status
Failed
6/16/2025
Primary Sponsor
Kevin Steele
Click for details
AI Summary
- Homestead property would be assessed at the most recent purchase price (or cost of construction for new builds) instead of "just value," both for initial assessment and upon change of ownership
- Annual reassessment increases would be capped at 3% of the prior year's assessed value, eliminating the alternative CPI-based cap that currently serves as a lower limit
- Changes, additions, and improvements to homestead property would be assessed at their documented cost rather than at just value
- The portability provisions allowing homeowners to transfer assessment limitation differences (up to $500,000) from a previous homestead to a new homestead are repealed entirely
- The Department of Revenue is required to create a grant program to assist local governments with revenue shortfalls caused by the act, and the act takes effect only if the constitutional amendment proposed by HJR 773 is approved by voters
Legislative Description
Assessment of Homestead Property
Last Action
Died in Ways & Means Committee
6/16/2025
Committee Referrals
Ways and Means Committee2/26/2025
Full Bill Text
No bill text available