Florida H0799 proposes to offset ad valorem tax revenue reductions in fiscally constrained counties due to a constitutional amendment.

Florida H0799 creates a provision to offset reductions in ad valorem tax revenue for fiscally constrained counties resulting from a constitutional amendment. Beginning in the 2027-2028 fiscal year, the Legislature will appropriate funds to be distributed based on each county's proportion of the total reduction in ad valorem tax revenue. Counties must apply for the distribution by November 15 each year, with calculations based on 95 percent of the estimated reduction in taxable value and the lesser of the 2026 applicable millage rate or the current year's applicable millage rate.

Florida H0799 proposes to offset ad valorem tax revenue reductions in fiscally constrained counties due to a constitutional amendment.

Florida H0799 creates a provision to offset reductions in ad valorem tax revenue for fiscally constrained counties resulting from a constitutional amendment. Beginning in the 2027-2028 fiscal year, the Legislature will appropriate funds to be distributed based on each county's proportion of the total reduction in ad valorem tax revenue. Counties must apply for the distribution by November 15 each year, with calculations based on 95 percent of the estimated reduction in taxable value and the lesser of the 2026 applicable millage rate or the current year's applicable millage rate.