Florida HB 1413: Pub. Rec./Structured Settlement Payees

Bill Text

HB 1413 2026

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A bill to be entitled 1
An act relating to assessment of property with 2
decreasing just valuation; amending ss. 193.155, 3
193.1554, and 193.1555, F.S.; prohibiting increases in 4
certain assessed valuations if the just value of the 5
property has decreased since the previous assessment; 6
providing a contingent effective date. 7
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Be It Enacted by the Legislature of the State of Florida: 9
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Section 1. Subsection (1) of section 193.155, Florida 11
Statutes, is amended, and subsection (4) of that section is 12
republished, to read: 13
193.155 Homestead assessments.—Homestead property shall be 14
assessed at just value as of January 1, 1994. Property receiving 15
the homestead exemption after January 1, 1994, shall be assessed 16
at just value as of January 1 of the year in which the property 17
receives the exemption unless the provisions of subsection (8) 18
apply. 19
(1)(a) Except as provided in paragraph (b), beginning in 20
1995, or the year following the year the property receives 21
homestead exemption, whichever is later, the property shall be 22
reassessed annually on January 1. Any change resulting from such 23
reassessment shall not exceed the lower of the following: 24
1.(a) Three percent of the assessed value of the property 25

HB 1413 2026

CODING: Words stricken are deletions; words underlined are additions.
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for the prior year; or 26
2.(b) The percentage change in the Consumer Price Index 27
for All Urban Consumers, U.S. City Average, all items 1967=100, 28
or successor reports for the preceding calendar year as 29
initially reported by the United States Department of Labor, 30
Bureau of Labor Statistics. 31
(b) Except as provided in subsection (4), the assessed 32
value of homestead property may not increase if the just value 33
of the property is less than the just value of the property on 34
the preceding January 1. 35
(4)(a) Except as provided in paragraph (b) and s. 193.624, 36
changes, additions, or improvements to homestead property shall 37
be assessed at just value as of the first January 1 after the 38
changes, additions, or improvements are substantially completed. 39
(b)1. Changes, additions, or improvements that replace all 40
or a portion of homestead property, including ancillary 41
improvements, damaged or destroyed by misfortune or calamity 42
shall be assessed upon substantial completion as provided in 43
this paragraph. Such assessment must be calculated using the 44
homestead property's assessed value as of the January 1 45
immediately before the date on which the damage or destruction 46
was sustained, subject to the assessment limitations in 47
subsections (1) and (2), when: 48
a. The square footage of the homestead property as changed 49
or improved does not exceed 130 percent of the square footage of 50

HB 1413 2026

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the homestead property before the damage or destruction; or 51
b. The total square footage of the homestead property as 52
changed or improved does not exceed 2,000 square feet. 53
2. The homestead property's assessed value must be 54
increased by the just value of that portion of the changed or 55
improved homestead property which is in excess of 130 percent of 56
the square footage of the homestead property before the damage 57
or destruction or of that portion exceeding 2,000 square feet. 58
3. Homestead property damaged or destroyed by misfortune 59
or calamity which, after being changed or improved, has a square 60
footage of less than 100 percent of the homestead property's 61
total square footage before the damage or destruction shall be 62
assessed pursuant to subsection (5). 63
4. Changes, additions, or improvements assessed pursuant 64
to this paragraph must be reassessed pursuant to subsection (1) 65
in subsequent years. This paragraph applies to changes, 66
additions, or improvements commenced within 5 years after the 67
January 1 following the damage or destruction of the homestead. 68
(c) Changes, additions, or improvements that replace all 69
or a portion of real property that was damaged or destroyed by 70
misfortune or calamity shall be assessed upon substantial 71
completion as if such damage or destruction had not occurred and 72
in accordance with paragraph (b) if the owner of such property: 73
1. Was permanently residing on such property when the 74
damage or destruction occurred; 75

HB 1413 2026

CODING: Words stricken are deletions; words underlined are additions.
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2. Was not entitled to receive homestead exemption on such 76
property as of January 1 of that yea