Florida SB 1610: Taxation

Bill Text

1610 
Assessment of Property with Decreasing Just Valuation 
2026-01-09T07:09:10Z 
Proposing amendments to the State Constitution to prohibit an increase in the value of certain assessments for property with a decreasing just valuation and to provide an effective date, etc. 
Original Filed Version 
2026 
S 
SJR 
Joint Resolution 
__ 

 Florida Senate - 2026 SJR 1610 

 By Senator Polsky 

 30-01520-26 20261610__ 
 1 Senate Joint Resolution 
 2 A joint resolution proposing an amendment to Section 4 
 3 of Article VII and the creation of a new section in 
 4 Article XII of the State Constitution to prohibit an 
 5 increase in the value of certain assessments for 
 6 property with a decreasing just valuation and to 
 7 provide an effective date. 
 8 
 9 Be It Resolved by the Legislature of the State of Florida: 
 10 
 11 That the following amendment to Section 4 of Article VII 
 12 and the creation of a new section in Article XII of the State 
 13 Constitution are agreed to and shall be submitted to the 
 14 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 4. Taxation; assessments.—By general law 
 20 regulations shall be prescribed which shall secure a just 
 21 valuation of all property for ad valorem taxation, provided: 
 22 (a) Agricultural land, land producing high water recharge 
 23 to Florida’s aquifers, or land used exclusively for 
 24 noncommercial recreational purposes may be classified by general 
 25 law and assessed solely on the basis of character or use. 
 26 (b) As provided by general law and subject to conditions, 
 27 limitations, and reasonable definitions specified therein, land 
 28 used for conservation purposes shall be classified by general 
 29 law and assessed solely on the basis of character or use. 
 30 (c) Pursuant to general law tangible personal property held 
 31 for sale as stock in trade and livestock may be valued for 
 32 taxation at a specified percentage of its value, may be 
 33 classified for tax purposes, or may be exempted from taxation. 
 34 (d) All persons entitled to a homestead exemption under 
 35 Section 6 of this Article shall have their homestead assessed at 
 36 just value as of January 1 of the year following the effective 
 37 date of this amendment. This assessment shall change only as 
 38 provided in this subsection. 
 39 (1)a. Except as provided in subparagraph b., assessments 
 40 subject to this subsection shall be changed annually on January 
 41 1st of each year; but those changes in assessments shall not 
 42 exceed the lower of the following: 
 43 1.a. Three percent (3%) of the assessment for the prior 
 44 year. 
 45 2.b. The percent change in the Consumer Price Index for all 
 46 urban consumers, U.S. City Average, all items 1967=100, or 
 47 successor reports for the preceding calendar year as initially 
 48 reported by the United States Department of Labor, Bureau of 
 49 Labor Statistics. 
 50 b. Except for assessments described in paragraph (5), an 
 51 assessment may not increase if the just value of the property is 
 52 less than the just value of the property on the preceding 
 53 January 1. 
 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)a. A person who establishes a new homestead as of 
 77 January 1 and who has received a homestead exemption pursuant to 
 78 Section 6 of this Article as of January 1 of any of the three 
 79 years immediately preceding the establishment of the new 
 80 homestead is entitled to have the new homestead assessed at less 
 81 than just value. The assessed value of