CS/HB 1503 2022
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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
CS/HB 1503 2022
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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, or the amount as determined in paragraph (c), 45
on the assessed valuation greater than $50,000 for all levies 46
other than school district levies. 47
(c) On January 1, 2023, the additional exemption in 48
paragraph (b) shall be equal to the greater of the prior year's 49
additional exemption or the prior year's additional exemption 50
CS/HB 1503 2022
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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
multiplied by the percentage change in the All-Transactions 51
House Price Index for Florida, Not Seasonally Adjusted, 52
published by the Federal Housing Finance Agency for the most 53
recent 4-quarter period ending September 30 compared to the 4 -54
quarter period ending September 30 of the year immediately 55
preceding the most recent period. The additional exemption must 56
be recalculated on January 1, 2025, and each January 1 every 5 57
years thereafter, using the same method. 58
Section 2. This act shall take effect on the effective 59
date of the amendment to the State Constitution proposed by HJR 60
923 or a joint resolution having substantially the same specific 61
intent and purpose, if such amendment to the State Constitution 62
is approved at the general election held in November 2022 or at 63
an earlier special electio n specifically authorized by law for 64
that purpose. 65