The Florida Senate
BILL ANALYSIS AND FISCAL IMPACT STATEMENT
(This document is based on the provisions contained in the legislation as of the latest date listed below.)
Prepared By: The Professional Staff of the Committee on Finance and Tax
BILL: CS/SJR 1510
INTRODUCER: Finance and Tax Committee and Senator Avila
SUBJECT: Homestead Property Exemption and Assessment Limitations
DATE: April 16, 2025
ANALYST STAFF DIRECTOR REFERENCE ACTION
1. Shuler Fleming CA Favorable
2. Gross Khan FT Fav/CS
3. RC
Please see Section IX. for Additional Information:
COMMITTEE SUBSTITUTE - Substantial Changes
I. Summary:
CS/SJR 1510 proposes an amendment to the Florida Constitution to allow the Legislature to
provide exemptions and assessment limitations for residential property owned by a person who
has homestead property; leased for 6 months or more; and would otherwise qualify as the
homestead of the owner if the owner made it his or her permanent residence. A person is entitled
to the exemption on one separate parcel of real estate. Real estate subject to an assessment
limitation under subsection (h) of Section 4 of Article VII is not entitled to this exemption and,
by general law, the legislature may establish additional criteria for eligible property.
The Revenue Estimating Conference has not analyzed the joint resolution.
If adopted by the Legislature, the proposed amendment will be submitted to Florida’s electors for
approval or rejection at the next general election in November 2026.
If approved by at least 60 percent of the electors, the proposed amendment will take effect on
January 1, 2027.
REVISED: BILL: CS/SJR 1510 Page 2
II. Present Situation:
General Overview of Property Taxation
The ad valorem tax or “property tax” is an annual tax levied by counties, municipalities, school
districts, and some special districts. The tax is based on the taxable value of a property as of
January 1 of each year.
1
The property appraiser annually determines the “just value”
2
of property
within the taxing authority and then applies relevant exclusions, assessment limitations, and
exemptions to determine the property’s “taxable value.”
3
The state constitution prohibits the state
from levying ad valorem taxes
4
and it limits the Legislature’s authority to provide for property
valuations at less than just value, unless expressly authorized.
5
Homestead Property Tax Exemptions
Every person having legal or equitable title to real estate and who maintains a permanent
residence on the real estate is deemed to establish homestead property. Homestead property is
eligible for a $25,000 tax exemption applicable to all ad valorem tax levies, including levies by
school districts.
6
An additional exemption applies to homestead property value between $50,000
and $75,000. This exemption is adjusted annually for inflation from the 2024 value of $25,000
and does not apply to ad valorem taxes levied by school districts.
7
Section 196.012(17), F.S., defines permanent residence to mean the “place where a person has
his or her true, fixed, and permanent home and principal establishment to which, whenever
absent, he or she has the intention of returning. A person may have only one permanent residence
at a time. . . .”
Save Our Homes Homestead Assessment Limitation and Portability
In 1992, Florida voters approved the Save Our Homes amendment to the Florida Constitution.
8
The Save Our Homes assessment limitation limits the amount that a homestead property's
assessed value may increase annually to the lesser of 3 percent or the percentage increase in the
1
Both real property and tangible personal property are subject to tax. Section 192.001(12), F.S., defines “real property” as
land, buildings, fixtures, and all other improvements to land. Section 192.001(11)(d), F.S., defines “tangible personal
property” as all goods, chattels, and other articles of value capable of manual possession and whose chief value is intrinsic to
the article itself.
2
Property must be valued at “just value” for purposes of property taxation, unless the Florida Constitution provides
otherwise. FLA. CONST. Art VII, s. 4. Just value has been interpreted by the courts to mean the fair market value that a willing
buyer would pay a willing seller for the property in an arm’s-length transaction. See, e.g., Walter v. Schuler, 176 So. 2d 81
(Fla. 1965); Deltona Corp. v. Bailey, 336 So. 2d 1163 (Fla. 1976); S. Bell Tel. & Tel. Co. v. Dade Cnty., 275 So. 2d 4 (Fla.
1973).
3
See ss. 192.001(2) and (16), F.S.
4
FLA. CONST. art. VII, s. 1(a).
5
See FLA. CONST. art. VII, s. 4.
6
FLA. CONST. art VII, s. 6(a).
7
Id. The percent change in the Consumer Price Index for All Urban Consumers, U.S. City Average, all items 1967=100 is
used to adjust the exemption, if such percent change is positive. Id. For the 2025 tax year, the exemption amount is $25,722.
See Volusia County Property Appraiser, Homestead Exemption, https://vcpa.vcgov.org/exemption/homestead (last visited
April 10, 2025).
8
FLA. CONST. art. VII, s. 4(d). The Florida Legislature implemented the Save Our Homes amendment in s. 193.155, F.S. BILL: CS/SJR 1510 Page 3
Consumer Price Index.
9
The accumulated difference between the assessed value and the just
value is the Save Our Homes benefit. The Save Our Homes assessment limitation is considered
portable because a homestead property owner may transfer this benefit when moving from one
homestead property to another.
10
Rental of Homestead Property
Section 196.012(13), F.S., provides that “ ‘[r]eal estate used and owned as a homestead’ means
real property to the extent provided in s. 6(a), Art. VII of the State Constitution, but less any
portion thereof used for commercial purposes, with the title of such property being recorded in
the official records of the county in which the property is located. Property rented for more than
6 months is presumed to be used for commercial purposes.”
11
Both the homestead property tax exemption and the Save Our Homes assessment limitation may
be lost by a property owner that abandons homestead property. Failure to maintain a homestead
property as a permanent residence may constitute abandonment under certain circumstances.
12
Section 196.061(1), F.S., describes when renting a homestead property constitutes abandonment:
“The rental of all or substantially all of a dwelling previously claimed to be a homestead
for tax purposes shall constitute the abandonment of such dwelling as a homestead, and
the abandonment continues until the dwelling is physically occupied by the owner.
However, such abandonment of the homestead after January 1 of any year does not affect
the homestead exemption for tax purposes for that particular year unless the property is
rented for more than 30 days per calendar year for 2 consecutive years.”
Assessment of Nonhomestead Property
Sections 4(g) and (h), Art. VII, of the Florida Constitution were created in January 2008, when
Florida electors voted to provide an assessment limitation for residential real property containing
nine or fewer units, and for all real property not subject to other specified classes or uses,
respectively. For all levies, with the exception of school levies, the assessed value of property in
each of these two categories may not be increased annually by more than 10 percent of the
assessment in the prior year.
13
III. Effect of Proposed Changes:
The joint resolution proposes an amendment to sections 3 and 4, Article VII of the Florida
Constitution to allow the Legislature to provide exemptions and assessment limitations for
residential property owned by a person who has homestead property; leased for 6 months or
more; and would otherwise qualify as the homestead of the owner if the owner made it his or her
permanent residence. A person is entitled to the exemption on one separate parcel of real estate.
9
FLA. CONST. art. VII, s. 4(d).
10
See FLA. CONST. art. VII, s. 4(d)(8); see also s. 193.155, F.S.
11
See also Florida Administrative Code Rule 12D-7.013(5): “Property used as a residence and also used by the owner as a
place of business does not lose its homestead character. The two uses should be separated with that portion used as a
residence being granted the exemption and the remainder being taxed.”
12
See ss. 196.031 and 193.155, F.S.
13
These constitutional provisions are implemented in ss. 193.1554 and 193.1555, F.S., respectively. BILL: CS/SJR 1510 Page 4
Real estate subject to an assessment limitation under subsection (h) of Section 4 of Article VII is
not entitled to this exemption and, by general law, the legislature may establish additional criteria
for eligible property.
The same person must hold legal and equitable property to the homestead and the leased
property.
The joint resolution provides that all persons entitled to the exemption shall have the property
assessed at the lower of 3 percent or the percent change in the Consumer Price Index for all
urban consumers, U.S. City Average, all items 1967=100, or successor reports for the preceding
calendar year as initially reported by the United States Department of Labor, Bureau of Labor
Statistics.
No assessment shall exceed just value. After any change of ownership, as provided by general
law, or termination of homestead, the property shall be assessed at just value as of January 1 of
the following year. Thereafter, the property shall be assessed under this proposed assessment
methodology.
Changes, additions, reductions, or improvements to the property shall be assessed as provided for
by general law; provided, however, after the adjustment for any change, addition, reduction, or
improvement, the property shall be assessed as provided in the joint resolution.
The legislature may also provide that if any property receiving this assessment limitation
subsequently becomes ineligible for the assessment limitation for reasons other than a change of
ownership or control, as defined by general law; or termination of homestead, the property shall
be assessed as nonhomestead residential property, without reassessment at just value, unless such
property is assessed as homestead property for that year.
The joint resolution proposes an amendment to Article XII to provide that the exemptions and
assessment limitation will apply beginning with the 2027 tax roll.
If adopted by the Legislature, the proposed amendment will be submitted to Florida’s electors for
approval or rejection at the next general election in November 2026.
If approved by at least 60 percent of the electors, the proposed amendment will take effect on
January 1, 2027.
IV. Constitutional Issues:
A. Municipality/County Mandates Restrictions:
The mandate provisions in Article VII, section 18 of the Florida Constitution, do not
apply to joint resolutions.
B. Public Records/Open Meetings Issues:
None. BILL: CS/SJR 1510 Page 5
C. Trust Funds Restrictions:
None.
D. State Tax or Fee Increases:
None.
E. Other Constitutional Issues:
Article XI, s. 1 of the Florida Constitution authorizes the Legislature to propose
amendments to the Florida Constitution by joint resolution approved by a three-fifths
vote of the membership of each house. Article XI, s. 5(a) of the Florida Constitution
requires the amendment be placed before the electorate at the next general election
14
held
more than 90 days after the proposal has been filed with the Secretary of State or at a
special election held for that purpose. Constitutional amendments submitted to the
electors must be printed in clear and unambiguous language on the ballot.
15
Article XI, s. 5(d) of the Florida Constitution requires proposed amendments or
constitutional revisions to be published in a newspaper of general circulation in each
county where a newspaper is published. The amendment or revision must be published
once in the 10th week and again in the 6th week immediately preceding the week the
election is held.
Article XI, s. 5(e) of the Florida Constitution requires approval by 60 percent of voters
for a constitutional amendment to take effect. The amendment, if approved, becomes
effective on the first Tuesday after the first Monday in January following the election, or
on such other date as may be specified in the amendment.
V. Fiscal Impact Statement:
A. Tax/Fee Issues:
The Revenue Estimating Conference has not yet adopted an impact for this joint
resolution.
B. Private Sector Impact:
None.
C. Government Sector Impact:
Article XI, Section 5(d) of the Florida Constitution requires proposed amendments or
constitutional revisions to be published in a newspaper of general circulation in each
14
Section 97.021(17), F.S., defines “general election” as an election held on the first Tuesday after the first Monday in
November in the even-numbered years, for the purpose of filling national, state, county, and district offices and for voting on
constitutional amendments not otherwise provided for by law.
15
Section 101.161(1), F.S. BILL: CS/SJR 1510 Page 6
county where a newspaper is published. The amendment or revision must be published in
the 10th week and again in the 6th week immediately preceding the week the election is
held.
The Division of Elections (division) within the Department of State pays for publication
costs to advertise all constitutional amendments in both English and Spanish,
16
typically
paid from non-recurring General Revenue funds.
17
Accurate cost estimates for the next
constitutional amendment advertising cannot be determined until the total number of
amendments to be advertised is known and updated quotes are obtained from
newspapers.
There is an unknown additional cost for the printing and distributing of the constitutional
amendments, in poster or booklet form, in English and Spanish, for each of the 67
Supervisors of Elections to post or make available at each polling room or each voting
site, as required by s. 101.171, F.S. Historically, the division has printed and distributed
booklets that include the ballot title, ballot summary, text of the constitutional
amendment, and, if applicable, the financial impact statement.
VI. Technical Deficiencies:
None.
VII. Related Issues:
None.
VIII. Statutes Affected:
This resolution substantially amends sections 3 and 4 of Article VII of the Florida Constitution.
This resolution also creates a new section in Article XII of the Florida Constitution.
IX. Additional Information:
A. Committee Substitute – Statement of Substantial Changes:
(Summarizing differences between the Committee Substitute and the prior version of the bill.)
CS by Finance and Tax on April 15, 2025:
• Restructures the proposed constitutional amendment while maintaining the benefits
provided by the bill:
o A property leased for 6 months or longer is eligible to have exempted up to
$50,000 of assessed value and have its annual assessment change limited to no
more than 3 percent per year.
• Adds to the proposed constitutional amendment additional criteria for eligibility:
o The property must be able to receive the homestead exemption if the owner used
the property as his or her primary residence.
16
Pursuant to Section 203 of the Voting Rights Act (52 U.S.C.A. § 10503).
17
See, e.g., Ch. 2022-156, Specific Appropriation 3137, Laws of Fla. BILL: CS/SJR 1510 Page 7
o A person is entitled to the exemption on one separate parcel of real estate.
o Real estate subject to an assessment limitation under subsection (h) of Section 4
of Article VII is not entitled to this exemption.
• More clearly specifies the Legislature’s authority to provide for general law regarding
how to assess property that moves between different assessment practices.
• Authorizes the legislature to establish additional criteria for eligible property.
B. Amendments:
None.
This Senate Bill Analysis does not reflect the intent or official position of the bill’s introducer or the Florida Senate.