Florida Senate - 2023 SB 120 By Senator Avila 39-00246-23 2023120__ 1 A bill to be entitled 2 An act relating to homestead assessments; amending s. 3 193.155, F.S.; revising the limitation on annual 4 increases of homestead property tax assessments; 5 providing a contingent effective date. 6 7 Be It Enacted by the Legislature of the State of Florida: 8 9 Section 1. Subsection (1) of section 193.155, Florida 10 Statutes, is amended to read: 11 193.155 Homestead assessments.—Homestead property shall be 12 assessed at just value as of January 1, 1994. Property receiving 13 the homestead exemption after January 1, 1994, shall be assessed 14 at just value as of January 1 of the year in which the property 15 receives the exemption unless the provisions of subsection (8) 16 apply. 17 (1) Beginning in 1995, or the year following the year the 18 property receives homestead exemption, whichever is later, the 19 property shall be reassessed annually on January 1. Any change 20 resulting from such reassessment shall not exceed the lower of 21 the following: 22 (a) TwoThreepercent of the assessed value of the property 23 for the prior year; or 24 (b) The percentage change in the Consumer Price Index for 25 All Urban Consumers, U.S. City Average, all items 1967=100, or 26 successor reports for the preceding calendar year as initially 27 reported by the United States Department of Labor, Bureau of 28 Labor Statistics. 29 Section 2. This act shall take effect on the effective date 30 of the amendment to the State Constitution proposed by SJR ____ 31 or a similar joint resolution having substantially the same 32 specific intent and purpose, if such amendment to the State 33 Constitution is approved at the next general election or at an 34 earlier special election specifically authorized by law for that 35 purpose.