Florida SB 1608: Protecting Consumers Against Pandemic-related Fraud

Bill Text

1608 
Assessment of Property with Decreasing Just Valuation 
2026-01-09T07:08:47Z 
Prohibiting increases in certain assessed valuations if the just value of the property has decreased since the previous assessment, etc. 
Original Filed Version 
2026 
S 
GB 
General Bill 
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 Florida Senate - 2026 SB 1608 

 By Senator Polsky 

 30-01519-26 20261608__ 
 1 A bill to be entitled 
 2 An act relating to the assessment of property with 
 3 decreasing just valuation; amending ss. 193.155, 
 4 193.1554, and 193.1555, F.S.; prohibiting increases in 
 5 certain assessed valuations if the just value of the 
 6 property has decreased since the previous assessment; 
 7 providing a contingent effective date. 
 8 
 9 Be It Enacted by the Legislature of the State of Florida: 
 10 
 11 Section 1. Subsection (1) of section 193.155, Florida 
 12 Statutes, is amended, and subsection (4) of that section is 
 13 republished, to read: 
 14 193.155 Homestead assessments.—Homestead property shall be 
 15 assessed at just value as of January 1, 1994. Property receiving 
 16 the homestead exemption after January 1, 1994, shall be assessed 
 17 at just value as of January 1 of the year in which the property 
 18 receives the exemption unless the provisions of subsection (8) 
 19 apply. 
 20 (1)(a) Except as provided in paragraph (b) and subsection 
 21 (4), beginning in 1995, or the year following the year the 
 22 property receives homestead exemption, whichever is later, the 
 23 property shall be reassessed annually on January 1. Any change 
 24 resulting from such reassessment shall not exceed the lower of 
 25 the following: 
 26 1.(a) Three percent of the assessed value of the property 
 27 for the prior year; or 
 28 2.(b) The percentage change in the Consumer Price Index for 
 29 All Urban Consumers, U.S. City Average, all items 1967=100, or 
 30 successor reports for the preceding calendar year as initially 
 31 reported by the United States Department of Labor, Bureau of 
 32 Labor Statistics. 
 33 (b) Except as provided in subsection (4), the assessed 
 34 value of homestead property may not increase if the just value 
 35 of the property is less than the just value of the property on 
 36 the preceding January 1. 
 37 (4)(a) Except as provided in paragraph (b) and s. 193.624, 
 38 changes, additions, or improvements to homestead property shall 
 39 be assessed at just value as of the first January 1 after the 
 40 changes, additions, or improvements are substantially completed. 
 41 (b)1. Changes, additions, or improvements that replace all 
 42 or a portion of homestead property, including ancillary 
 43 improvements, damaged or destroyed by misfortune or calamity 
 44 shall be assessed upon substantial completion as provided in 
 45 this paragraph. Such assessment must be calculated using the 
 46 homestead property’s assessed value as of the January 1 
 47 immediately before the date on which the damage or destruction 
 48 was sustained, subject to the assessment limitations in 
 49 subsections (1) and (2), when: 
 50 a. The square footage of the homestead property as changed 
 51 or improved does not exceed 130 percent of the square footage of 
 52 the homestead property before the damage or destruction; or 
 53 b. The total square footage of the homestead property as 
 54 changed or improved does not exceed 2,000 square feet. 
 55 2. The homestead property’s assessed value must be 
 56 increased by the just value of that portion of the changed or 
 57 improved homestead property which is in excess of 130 percent of 
 58 the square footage of the homestead property before the damage 
 59 or destruction or of that portion exceeding 2,000 square feet. 
 60 3. Homestead property damaged or destroyed by misfortune or 
 61 calamity which, after being changed or improved, has a square 
 62 footage of less than 100 percent of the homestead property’s 
 63 total square footage before the damage or destruction shall be 
 64 assessed pursuant to subsection (5). 
 65 4. Changes, additions, or improvements assessed pursuant to 
 66 this paragraph must be reassessed pursuant to subsection (1) in 
 67 subsequent years. This paragraph applies to changes, additions, 
 68 or improvements commenced within 5 years after the January 1 
 69 following the damage or destruction of the homestead. 
 70 (c) Changes, additions, or improvements that replace all or 
 71 a portion of real property that was damaged or destroyed by 
 72 misfortune or calamity shall be assessed upon substantial 
 73 completion as if such damage or destruction had not occurred and 
 74 in accordance with paragraph (b) if the owner of such property: 
 75 1. Was permanently residing on such property when the 
 76 damage or destruction occurred; 
 77 2. Was not entitled to receive homestead exemption on such 
 78 property as of January 1 of that year; and 
 79 3. Applies for and receives homestead exemption on such 
 80 property the following year. 
 81 (d) Changes, add