Florida SB 270: Florida Bright Futures Scholarship Program

Bill Text

270 
Homestead Property Exemption for Persons Age 65 or Older 
2025-10-23T10:45:36Z 
Proposing amendments to the State Constitution to create a total exemption of homestead property from ad valorem taxation, other than school district levies, for persons 65 years of age or older who have owned and maintained the property as their permanent residence for at least 5 years and whose household income does not exceed a certain amount, adjusted annually by the cost-of-living index, and to provide an effective date, etc. 
Original Filed Version 
2026 
S 
SJR 
Joint Resolution 
__ 

 Florida Senate - 2026 SJR 270 

 By Senator Bernard 

 24-00428D-26 2026270__ 
 1 Senate Joint Resolution 
 2 A joint resolution proposing an amendment to Section 6 
 3 of Article VII and the creation of a new section in 
 4 Article XII of the State Constitution to create a 
 5 total exemption of homestead property from ad valorem 
 6 taxation, other than school district levies, for 
 7 persons 65 years of age or older who have owned and 
 8 maintained the property as their permanent residence 
 9 for at least 5 years and whose household income does 
 10 not exceed a certain amount, adjusted annually by the 
 11 cost-of-living index, and to provide an effective 
 12 date. 
 13 
 14 Be It Resolved by the Legislature of the State of Florida: 
 15 
 16 That the following amendment to Section 6 of Article VII 
 17 and the creation of a new section of Article XII of the State 
 18 Constitution are agreed to and shall be submitted to the 
 19 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 6. Homestead exemptions.— 
 25 (a)(1) Every person who has the legal or equitable title to 
 26 real estate and maintains thereon the permanent residence of the 
 27 owner, or another legally or naturally dependent upon the owner, 
 28 shall be exempt from taxation thereon, except assessments for 
 29 special benefits, as follows: 
 30 a. Up to the assessed valuation of twenty-five thousand 
 31 dollars; and 
 32 b. For all levies other than school district levies, on the 
 33 assessed valuation greater than fifty thousand dollars and up to 
 34 seventy-five thousand dollars, 
 35 
 36 upon establishment of right thereto in the manner prescribed by 
 37 law. The real estate may be held by legal or equitable title, by 
 38 the entireties, jointly, in common, as a condominium, or 
 39 indirectly by stock ownership or membership representing the 
 40 owner’s or member’s proprietary interest in a corporation owning 
 41 a fee or a leasehold initially in excess of ninety-eight years. 
 42 The exemption shall not apply with respect to any assessment 
 43 roll until such roll is first determined to be in compliance 
 44 with the provisions of section 4 by a state agency designated by 
 45 general law. This exemption is repealed on the effective date of 
 46 any amendment to this Article which provides for the assessment 
 47 of homestead property at less than just value. 
 48 (2) The twenty-five thousand dollar amount of assessed 
 49 valuation exempt from taxation provided in subparagraph (a)(1)b. 
 50 shall be adjusted annually on January 1 of each year for 
 51 inflation using the percent change in the Consumer Price Index 
 52 for All Urban Consumers, U.S. City Average, all items 1967=100, 
 53 or successor reports for the preceding calendar year as 
 54 initially reported by the United States Department of Labor, 
 55 Bureau of Labor Statistics, if such percent change is positive. 
 56 (3) The amount of assessed valuation exempt from taxation 
 57 for which every person who has the legal or equitable title to 
 58 real estate and maintains thereon the permanent residence of the 
 59 owner, or another person legally or naturally dependent upon the 
 60 owner, is eligible, and which applies solely to levies other 
 61 than school district levies, that is added to this constitution 
 62 after January 1, 2025, shall be adjusted annually on January 1 
 63 of each year for inflation using the percent change in the 
 64 Consumer Price Index for All Urban Consumers, U.S. City Average, 
 65 all items 1967=100, or successor reports for the preceding 
 66 calendar year as initially reported by the United States 
 67 Department of Labor, Bureau of Labor Statistics, if such percent 
 68 change is positive, beginning the year following the effective 
 69 date of such exemption. 
 70 (b) Not more than one exemption shall be allowed any 
 71 individual or family unit or with respect to any residential 
 72 unit. No exemption shall exceed the value of the real estate 
 73 assessable to the owner or, in case of ownership through stock 
 74 or membership in a corporation, the value of the proportion 
 75 which the interest in the corporation bears to the assessed 
 76 value of the property. 
 77 (c) B