FL S0270

Creates a full homestead property tax exemption from all ad valorem taxes except school district levies for homeowners age 65 or older who have owned and lived in the property as their permanent residence for at least 5 years

Sets household income eligibility limit at $350,000, which will be adjusted annually based on changes in the Consumer Price Index issued by the U.S. Department of Labor

Replaces existing optional county/municipal homestead exemptions for seniors (previously capped at $50,000 or full value for homes under $250,000 with 25-year residency) with this new statewide mandatory exemption

Requires disabled veterans age 65 or older who do not qualify for the new senior exemption to continue receiving their existing percentage-based ad valorem tax discount for combat-related disabilities

Proposes a constitutional amendment to Article VII, Section 6, to be placed on the ballot for voter approval, with an effective date of January 1, 2027