Florida SB 274: Transportation Facility Designations/Harris Rosen Way and Geraldine Thompson Way

Bill Text

274 
Homestead Property Tax Benefits for Long-term Owners 
2025-10-23T11:57:43Z 
Proposing amendments to the State Constitution to provide that the assessed value of homestead property may not increase after 20 years of ownership and residency, to provide an additional homestead tax exemption equal to 50 percent of the assessed value of property, other than school district levies, for persons who have owned and resided on the property as their permanent residence for 30 years or more, and to provide an effective date, etc. 
Original Filed Version 
2026 
S 
SJR 
Joint Resolution 
__ 

 Florida Senate - 2026 SJR 274 

 By Senator Bernard 

 24-00443B-26 2026274__ 
 1 Senate Joint Resolution 
 2 A joint resolution proposing amendments to Sections 4 
 3 and 6 of Article VII and the creation of a new section 
 4 in Article XII of the State Constitution to provide 
 5 that the assessed value of homestead property may not 
 6 increase after 20 years of ownership and residency, to 
 7 provide an additional homestead tax exemption equal to 
 8 50 percent of the assessed value of property, other 
 9 than school district levies, for persons who have 
 10 owned and resided on the property as their permanent 
 11 residence for 30 years or more, and to provide an 
 12 effective date. 
 13 
 14 Be It Resolved by the Legislature of the State of Florida: 
 15 
 16 That the following amendments to Sections 4 and 6 of 
 17 Article VII and the creation of a new section of Article XII of 
 18 the State Constitution are agreed to and shall be submitted to 
 19 the electors of this state for approval or rejection at the next 
 20 general election or at an earlier special election specifically 
 21 authorized by law for that purpose: 
 22 ARTICLE VII 
 23 FINANCE AND TAXATION 
 24 SECTION 4. Taxation; assessments.—By general law 
 25 regulations shall be prescribed which shall secure a just 
 26 valuation of all property for ad valorem taxation, provided: 
 27 (a) Agricultural land, land producing high water recharge 
 28 to Florida’s aquifers, or land used exclusively for 
 29 noncommercial recreational purposes may be classified by general 
 30 law and assessed solely on the basis of character or use. 
 31 (b) As provided by general law and subject to conditions, 
 32 limitations, and reasonable definitions specified therein, land 
 33 used for conservation purposes shall be classified by general 
 34 law and assessed solely on the basis of character or use. 
 35 (c) Pursuant to general law tangible personal property held 
 36 for sale as stock in trade and livestock may be valued for 
 37 taxation at a specified percentage of its value, may be 
 38 classified for tax purposes, or may be exempted from taxation. 
 39 (d) All persons entitled to a homestead exemption under 
 40 Section 6 of this Article shall have their homestead assessed at 
 41 just value as of January 1 of the year following the effective 
 42 date of this amendment. This assessment shall change only as 
 43 provided in this subsection. 
 44 (1) Assessments subject to this subsection shall be changed 
 45 annually on January 1st of each year; but those changes in 
 46 assessments shall not exceed the lower of the following, unless 
 47 paragraph (9) applies: 
 48 a. Three percent (3%) of the assessment for the prior year. 
 49 b. The percent change in the Consumer Price Index for all 
 50 urban consumers, U.S. City Average, all items 1967=100, or 
 51 successor reports for the preceding calendar year as initially 
 52 reported by the United States Department of Labor, Bureau of 
 53 Labor Statistics. 
 54 (2) No assessment shall exceed just value. 
 55 (3) After any change of ownership, as provided by general 
 56 law, homestead property shall be assessed at just value as of 
 57 January 1 of the following year, unless the provisions of 
 58 paragraph (8) apply. Thereafter, the homestead shall be assessed 
 59 as provided in this subsection. 
 60 (4) New homestead property shall be assessed at just value 
 61 as of January 1st of the year following the establishment of the 
 62 homestead, unless the provisions of paragraph (8) apply. That 
 63 assessment shall only change as provided in this subsection. 
 64 (5) Changes, additions, reductions, or improvements to 
 65 homestead property shall be assessed as provided for by general 
 66 law; provided, however, after the adjustment for any change, 
 67 addition, reduction, or improvement, the property shall be 
 68 assessed as provided in this subsection. 
 69 (6) In the event of a termination of homestead status, the 
 70 property shall be assessed as provided by general law. 
 71 (7) The provisions of this amendment are severable. If any 
 72 of the provisions of this amendment shall be held 
 73 unconstitutional by any court of competent jurisdiction, the 
 74 decision of such court shall not affect or impair any remaining 
 75 provisions of this amendment. 
 76 (8) 
 77 a. A person who establishes a new homest