Proposed constitutional amendment to prohibit ad valorem taxes on tangible personal property by counties, school districts, and municipalities.

The bill proposes amendments to the State Constitution to prohibit the levying of ad valorem taxes on tangible personal property by counties, school districts, and municipalities. The amendment would take effect on January 1, 2027. The bill also includes provisions for exemptions and special assessments for certain types of property, such as agricultural land, homestead property, and historic properties. The changes to the assessed value of property would be subject to certain conditions and limitations specified by general law.

Proposed constitutional amendment to prohibit ad valorem taxes on tangible personal property by counties, school districts, and municipalities.

The bill proposes amendments to the State Constitution to prohibit the levying of ad valorem taxes on tangible personal property by counties, school districts, and municipalities. The amendment would take effect on January 1, 2027. The bill also includes provisions for exemptions and special assessments for certain types of property, such as agricultural land, homestead property, and historic properties. The changes to the assessed value of property would be subject to certain conditions and limitations specified by general law.