FL S0272

Provides a full homestead property tax exemption (equal to the assessed value) for homeowners age 65 and older with household income not exceeding $350,000, applying to all ad valorem taxes except school district levies

Requires the homeowner to have maintained permanent residence on the property for at least 5 years (reduced from the previous 25-year requirement)

Adjusts the $350,000 income limit annually based on the consumer price index to account for cost-of-living changes

Excludes disabled veterans age 65 and older who qualify for this new exemption from receiving the separate disabled veteran property tax discount under s. 196.082

Authorizes the Department of Revenue to adopt emergency rules effective for 6 months to implement the act, with the exemption first applying to the 2027 tax roll contingent on voter approval of a related constitutional amendment (SJR 270)