FL S0274

Freezes the assessed value of homestead property after 20 years of continuous ownership and residency, preventing any further increases in assessed value as long as the homestead exemption continues

Creates an additional homestead tax exemption equal to 50% of the assessed value for property owners who have owned and resided on their permanent residence for 30 years or more, applicable to all ad valorem taxes except school district levies

Allows aggregation of ownership and residency periods across multiple homestead properties to meet the 20-year and 30-year thresholds

Requires property appraisers to maintain records verifying eligibility, including ownership and residency periods for any previous homestead properties

Proposed constitutional amendment would take effect January 1, 2027, if approved by voters at the next general election