Florida H0903 proposes constitutional amendments to limit annual increases in assessed value for nonhomestead properties.

Florida H0903 proposes amendments to the State Constitution to reduce the maximum annual increase in assessed value for nonhomestead properties from 10% to 3%. The bill also sets rules for assessing homestead properties, including limits on annual changes and conditions for new homesteads. It specifies how certain properties, such as those used for conservation or commercial fishing, should be assessed. The proposed changes would take effect on January 1, 2027.

Florida H0903 proposes constitutional amendments to limit annual increases in assessed value for nonhomestead properties.

Florida H0903 proposes amendments to the State Constitution to reduce the maximum annual increase in assessed value for nonhomestead properties from 10% to 3%. The bill also sets rules for assessing homestead properties, including limits on annual changes and conditions for new homesteads. It specifies how certain properties, such as those used for conservation or commercial fishing, should be assessed. The proposed changes would take effect on January 1, 2027.