Florida HB 903: Corrections

Bill Text

HJR 903 2026

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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

House Joint Resolution 1
A joint resolution proposing an amendment to Section 4 2
of Article VII and the creation of a new section in 3
Article XII of the State Constitution to reduce the 4
maximum percentage that the assessed value of 5
nonhomestead properties may increase annually and to 6
provide an effective date. 7
8
Be It Resolved by the Legislature of the State of Florida: 9
10
That the following amendment to Section 4 of Article VII 11
and the creation of a new section in Article XII of the State 12
Constitution is agreed to and shall be submitted to the electors 13
of this state for approval or rejection at the next general 14
election or at an earlier special election specifically 15
authorized by law for that purpose: 16
ARTICLE VII 17
FINANCE AND TAXATION 18
SECTION 4. Taxation; assessments.—By general law 19
regulations shall be prescribed which shall secure a just 20
valuation of all property for ad valorem taxation, provided: 21
(a) Agricultural land, land producing high water recharge 22
to Florida's aquifers, or land used exclusively for 23
noncommercial recreational purposes may be classified by general 24
law and assessed solely on the basis of character or use. 25

HJR 903 2026

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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

(b) As provided by general law and subject to conditions, 26
limitations, and reasonable definitions specified therein, land 27
used for conservation purposes shall be classified by general 28
law and assessed solely on the basis of character or use. 29
(c) Pursuant to general law tangible personal property 30
held for sale as stock in trade and livestock may be valued for 31
taxation at a specified percentage of its value, may be 32
classified for tax purposes, or may be exempted from taxation. 33
(d) All persons entitled to a homestead exemption under 34
Section 6 of this Article shall have their homestead assessed at 35
just value as of January 1 of the year following the effective 36
date of this amendment. This assessment shall change only as 37
provided in this subsection. 38
(1) Assessments subject to this subsection shall be 39
changed annually on January 1st of each year; but those changes 40
in assessments shall not exceed the lower of the following: 41
a. Three percent (3%) of the assessment for the prior 42
year. 43
b. The percent change in the Consumer Price Index for all 44
urban consumers, U.S. City Average, all items 1967=100, or 45
successor reports for the preceding calendar year as initially 46
reported by the United States Department of Labor, Bureau of 47
Labor Statistics. 48
(2) No assessment shall exceed just value. 49
(3) After any change of ownership, as provided by general 50

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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

law, homestead property shall be assessed at just value as of 51
January 1 of the following year, unless the provisions of 52
paragraph (8) apply. Thereafter, the homestead shall be assessed 53
as provided in this subsection. 54
(4) New homestead property shall be assessed at just value 55
as of January 1st of the year following the establishment of the 56
homestead, unless the provisions of paragraph (8) apply. That 57
assessment shall only change as provided in this subsection. 58
(5) Changes, additions, reductions, or improvements to 59
homestead property shall be assessed as provided for by general 60
law; provided, however, after the adjustment for any change, 61
addition, reduction, or improvement, the property shall be 62
assessed as provided in this subsection. 63
(6) In the event of a termination of homestead status, the 64
property shall be assessed as provided by general law. 65
(7) The provisions of this amendment are severable. If any 66
of the provisions of this amendment shall be held 67
unconstitutional by any court of competent jurisdiction, the 68
decision of such court shall not affect or impair any remaining 69
provisions of this amendment. 70
(8)a. A person who establishes a new homestead as of 71
January 1 and who has received a homestead exemption pursuant to 72
Section 6 of this Article as of January 1 of any of the three 73
years immediately preceding the establishment of the new 74
homestead is entitled to have the new homestead assessed at less 75

HJR 903 2026

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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

than just value. The assessed value of the newly established 76
homestead shall be determined as follows: 77
1. If the just value of the new homestead is greater than 78
or equal to the just value of the prior