FL H0903

Reduces the annual assessment increase cap for nonhomestead properties from 10% to 3% for all levies other than school district levies

Applies to residential properties with nine units or fewer that are not homestead-exempt, as well as other non-homestead real property

Requires voter approval as a constitutional amendment to Article VII, Section 4 of the Florida State Constitution

Takes effect January 1, 2027, if approved by voters at the next general election or earlier special election

Properties reset to just value upon change of ownership or control, then become subject to the new 3% annual cap thereafter