FL H0205

Homestead property owners age 65 and older would be exempt from all ad valorem (property) taxes except school district levies, effective January 1, 2027

Counties and municipalities would be prohibited from reducing law enforcement funding below the higher of their 2025-2026 or 2026-2027 budgeted amounts, regardless of reduced tax revenue from this exemption

The amendment removes existing income-based limitations that currently restrict senior homestead exemptions to households earning under $20,000 annually

The existing $25,000 homestead exemption amount (for assessed value between $50,000-$75,000) would continue to be adjusted annually for inflation using the Consumer Price Index

Requires voter approval at the next general election as a constitutional amendment to Article VII (Finance and Taxation) and Article VIII (Local Government)