Florida SB 550: Homeowners’ Insurance Policies

Bill Text

550 
Prohibition on Levying Ad Valorem Taxes on Tangible Personal Property 
2025-11-18T07:05:40Z 
Proposing amendments to the State Constitution to prohibit levying ad valorem taxes on tangible personal property by counties, school districts, and municipalities and to provide an effective date, etc. 
Original Filed Version 
2026 
S 
SJR 
Joint Resolution 
__ 

 Florida Senate - 2026 SJR 550 

 By Senator Bernard 

 24-00725-26 2026550__ 
 1 Senate Joint Resolution 
 2 A joint resolution proposing amendments to Sections 3, 
 3 4, and 9 of Article VII and creating a new section in 
 4 Article XII of the State Constitution to prohibit 
 5 levying ad valorem taxes on tangible personal property 
 6 by counties, school districts, and municipalities and 
 7 to provide an effective date. 
 8 
 9 Be It Resolved by the Legislature of the State of Florida: 
 10 
 11 That the following amendments to Sections 3, 4, and 9 of 
 12 Article VII and the creation of a new section in Article XII of 
 13 the State Constitution are agreed to and shall be submitted to 
 14 the electors of this state for approval or rejection at the next 
 15 general election or at an earlier special election specifically 
 16 authorized by law for that purpose: 
 17 ARTICLE VII 
 18 FINANCE AND TAXATION 
 19 SECTION 3. Taxes; exemptions.— 
 20 (a) All property owned by a municipality and used 
 21 exclusively by it for municipal or public purposes shall be 
 22 exempt from taxation. A municipality, owning property outside 
 23 the municipality, may be required by general law to make payment 
 24 to the taxing unit in which the property is located. Such 
 25 portions of property as are used predominantly for educational, 
 26 literary, scientific, religious or charitable purposes may be 
 27 exempted by general law from taxation. 
 28 (b) There shall be exempt from taxation, cumulatively, to 
 29 every head of a family residing in this state, household goods 
 30 and personal effects to the value fixed by general law, not less 
 31 than one thousand dollars, and to every widow or widower or 
 32 person who is blind or totally and permanently disabled, 
 33 property to the value fixed by general law not less than five 
 34 hundred dollars. 
 35 (c) Any county or municipality may, for the purpose of its 
 36 respective tax levy and subject to the provisions of this 
 37 subsection and general law, grant community and economic 
 38 development ad valorem tax exemptions to new businesses and 
 39 expansions of existing businesses, as defined by general law. 
 40 Such an exemption may be granted only by ordinance of the county 
 41 or municipality, and only after the electors of the county or 
 42 municipality voting on such question in a referendum authorize 
 43 the county or municipality to adopt such ordinances. An 
 44 exemption so granted shall apply to improvements to real 
 45 property made by or for the use of a new business and 
 46 improvements to real property related to the expansion of an 
 47 existing business and shall also apply to tangible personal 
 48 property of such new business and tangible personal property 
 49 related to the expansion of an existing business. The amount or 
 50 limits of the amount of such exemption shall be specified by 
 51 general law. The period of time for which such exemption may be 
 52 granted to a new business or expansion of an existing business 
 53 shall be determined by general law. The authority to grant such 
 54 exemption shall expire ten years from the date of approval by 
 55 the electors of the county or municipality, and may be renewable 
 56 by referendum as provided by general law. 
 57 (d) Any county or municipality may, for the purpose of its 
 58 respective tax levy and subject to the provisions of this 
 59 subsection and general law, grant historic preservation ad 
 60 valorem tax exemptions to owners of historic properties. This 
 61 exemption may be granted only by ordinance of the county or 
 62 municipality. The amount or limits of the amount of this 
 63 exemption and the requirements for eligible properties must be 
 64 specified by general law. The period of time for which this 
 65 exemption may be granted to a property owner shall be determined 
 66 by general law. 
 67 (e) By general law and subject to conditions specified 
 68 therein: 
 69 (1) Twenty-five thousand dollars of the assessed value of 
 70 property subject to tangible personal property tax shall be 
 71 exempt from ad valorem taxation. 
 72 (2) The assessed value of solar devices or renewable energy 
 73 source devices subject to tangible personal property tax may be 
 74 exempt from ad valorem taxation, subject to limitations provided 
 75 by general law. 
 76 (f) There shall be granted an ad valorem tax exemption for 
 77 real property dedicated in perpetuity for conservation purposes, 
 78 including real property encumbered by perpetual conservation 
 79 easements or by other perpetual conservation protecti