HB 1503 2022
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hb1503-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to ad valorem taxation; amending s. 2
196.031, F.S.; providing for the periodic increase in 3
the exemption on a homestead property's assessed value 4
that is greater than $50,000; providing an effective 5
date. 6
7
Be It Enacted by the Legislature of the State of Florida: 8
9
Section 1. Subsection (1) of section 196.031, Florida 10
Statutes, is amended to read: 11
196.031 Exemption of homesteads. — 12
(1)(a) A person who, on January 1, has the legal title or 13
beneficial title in equity to real property in this state and 14
who in good faith makes the property his or her permanent 15
residence or the permanent residence of another or others 16
legally or naturally depend ent upon him or her, is entitled to 17
an exemption from all taxation, except for assessments for 18
special benefits, up to the assessed valuation of $25,000 on the 19
residence and contiguous real property, as defined in s. 6, Art. 20
VII of the State Constitution. Such title may be held by the 21
entireties, jointly, or in common with others, and the exemption 22
may be apportioned among such of the owners as reside thereon, 23
as their respective interests appear. If only one of the owners 24
of an estate held by the entiretie s or held jointly with the 25
HB 1503 2022
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hb1503-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
right of survivorship resides on the property, that owner is 26
allowed an exemption of up to the assessed valuation of $25,000 27
on the residence and contiguous real property. However, an 28
exemption of more than $25,000 is not allowed to any one person 29
or on any one dwelling house, except that an exemption up to the 30
assessed valuation of $25,000 may be allowed on each apartment 31
or mobile home occupied by a tenant -stockholder or member of a 32
cooperative corporation and on each condominiu m parcel occupied 33
by its owner. Except for owners of an estate held by the 34
entireties or held jointly with the right of survivorship, the 35
amount of the exemption may not exceed the proportionate 36
assessed valuation of all owners who reside on the property. 37
Before such exemption may be granted, the deed or instrument 38
shall be recorded in the official records of the county in which 39
the property is located. The property appraiser may request the 40
applicant to provide additional ownership documents to establish 41
title. 42
(b) Every person who qualifies to receive the exemption 43
provided in paragraph (a) is entitled to an additional exemption 44
of up to $25,000, as determined in paragraph (c), on the 45
assessed valuation greater than $50,000 for all levies other 46
than school district levies. 47
(c) Beginning January 1, 2023, and each January 1 48
thereafter, the exemption in paragraph (b) shall be equal to the 49
greater of the prior year's additional exemption or the prior 50
HB 1503 2022
CODING: Words stricken are deletions; words underlined are additions.
hb1503-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
year's additional exemption multiplied by the percentage change 51
in the Housing Price Index published by the Federal Housing 52
Finance Agency, All Transactions Index, Florida, Not Seasonally 53
Adjusted, for the most recent 4 -quarter period ending September 54
30 compared to the 4 -quarter period ending September 30 of th e 55
year immediately preceding the most recent period. 56
Section 2. This act shall take effect on the effective 57
date of the amendment to the State Constitution proposed by HJR 58
923 or a joint resolution having substantially the same specific 59
intent and purpose, if such amendment to the State Constitution 60
is approved at the general election held in November 2022 or at 61
an earlier special election specifically authorized by law for 62
that purpose. 63