Florida Senate - 2026                                    SB 1184
       
       
        
       By Senator Rodriguez
       
       
       
       
       
       40-00582-26                                           20261184__
    1                        A bill to be entitled                      
    2         An act relating to homestead assessment limitation
    3         transfer; amending s. 193.155, F.S.; conforming
    4         provisions to align with the State Constitution;
    5         providing an effective date.
    6          
    7  Be It Enacted by the Legislature of the State of Florida:
    8  
    9         Section 1. Paragraphs (a) and (b) of subsection (8) of
   10  section 193.155, Florida Statutes, are 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         (8) Property assessed under this section shall be assessed
   18  at less than just value when the person who establishes a new
   19  homestead has received a homestead exemption as of January 1 of
   20  any of the 3 immediately preceding years. For purposes of this
   21  subsection, a husband and wife who owned and both permanently
   22  resided on a previous homestead shall each be considered to have
   23  received the homestead exemption even though only the husband or
   24  the wife applied for the homestead exemption on the previous
   25  homestead. The assessed value of the newly established homestead
   26  shall be determined as provided in this subsection.
   27         (a) If the just value of the new homestead as of January 1
   28  is greater than or equal to the just value of the immediate
   29  prior homestead as of January 1 of the year in which the
   30  immediate prior homestead was abandoned, the assessed value of
   31  the new homestead shall be the just value of the new homestead
   32  minus an amount equal to the lesser of $500,000 or the
   33  difference between the just value and the assessed value of the
   34  immediate prior homestead as of January 1 of the year in which
   35  the prior homestead was abandoned. Thereafter, the homestead
   36  shall be assessed as provided in this section.
   37         (b) If the just value of the new homestead as of January 1
   38  is less than the just value of the immediate prior homestead as
   39  of January 1 of the year in which the immediate prior homestead
   40  was abandoned, the assessed value of the new homestead shall be
   41  equal to the just value of the new homestead divided by the just
   42  value of the immediate prior homestead and multiplied by the
   43  assessed value of the immediate prior homestead. However, if the
   44  difference between the just value of the new homestead and the
   45  assessed value of the new homestead calculated pursuant to this
   46  paragraph is greater than $500,000, the assessed value of the
   47  new homestead shall be increased so that the difference between
   48  the just value and the assessed value equals $500,000.
   49  Thereafter, the homestead shall be assessed as provided in this
   50  section.
   51         Section 2. This act shall take effect July 1, 2026.