FL S0286

Homestead property improvements valued under $100,000 would be assessed using a formula that applies the property's existing assessment-to-just-value ratio to the improvement's value, rather than assessing improvements at full just value

The reduced assessment calculation does not apply to improvements that replace all or a substantial portion of the property, or that increase total square footage by more than 25%

Removes existing provisions that allowed favorable assessment treatment specifically for homestead properties damaged or destroyed by misfortune or calamity

Eliminates the current 130% square footage threshold and 2,000 square foot cap rules for disaster-related rebuilding assessments

Effective date: July 1, 2026