Florida S0002 proposes constitutional amendments to limit property tax assessments, increase homestead exemptions, and restrict local tax use.

Florida S0002 proposes amendments to the state constitution to limit annual property tax assessment increases, increase homestead exemptions, and restrict the use of local property taxes. The bill aims to cap annual assessment increases at 3% or the Consumer Price Index, whichever is lower, and gradually increase the homestead exemption to $250,000 by 2027. It also mandates that local property taxes be used only for core public services like public safety, education, infrastructure, and natural resources. The proposed changes would take effect on January 1, 2027, if approved by voters.

Florida S0002 proposes constitutional amendments to limit property tax assessments, increase homestead exemptions, and restrict local tax use.

Florida S0002 proposes amendments to the state constitution to limit annual property tax assessment increases, increase homestead exemptions, and restrict the use of local property taxes. The bill aims to cap annual assessment increases at 3% or the Consumer Price Index, whichever is lower, and gradually increase the homestead exemption to $250,000 by 2027. It also mandates that local property taxes be used only for core public services like public safety, education, infrastructure, and natural resources. The proposed changes would take effect on January 1, 2027, if approved by voters.