Florida Senate - 2026                                     SB 280
       
       
        
       By Senator Bernard
       
       
       
       
       
       24-00444C-26                                           2026280__
    1                        A bill to be entitled                      
    2         An act relating to assessment of homestead property;
    3         amending s. 193.155, F.S.; limiting the assessed value
    4         upon change of ownership of homestead property having
    5         a prior assessed value below a certain amount when the
    6         person acquiring the property is entitled to a
    7         homestead exemption; providing a contingent effective
    8         date.
    9          
   10  Be It Enacted by the Legislature of the State of Florida:
   11  
   12         Section 1. Paragraph (a) of subsection (3) of section
   13  193.155, Florida Statutes, is amended to read:
   14         193.155 Homestead assessments.—Homestead property shall be
   15  assessed at just value as of January 1, 1994. Property receiving
   16  the homestead exemption after January 1, 1994, shall be assessed
   17  at just value as of January 1 of the year in which the property
   18  receives the exemption unless the provisions of subsection (8)
   19  apply.
   20         (3)(a) Except as provided in this subsection or subsection
   21  (8), property assessed under this section shall be assessed at
   22  just value as of January 1 of the year following a change of
   23  ownership; however, if ownership is acquired by a person
   24  entitled to a homestead exemption and the acquired property had
   25  an assessed value of less than $500,000 in the preceding year,
   26  the property’s assessed value may not exceed 150 percent of its
   27  assessed value in the preceding year. Thereafter, the annual
   28  changes in the assessed value of the property are subject to the
   29  limitations in subsections (1) and (2). For the purpose of this
   30  section, a change of ownership means any sale, foreclosure, or
   31  transfer of legal title or beneficial title in equity to any
   32  person, except if any of the following apply:
   33         1. Subsequent to the change or transfer, the same person is
   34  entitled to the homestead exemption as was previously entitled
   35  and:
   36         a. The transfer of title is to correct an error;
   37         b. The transfer is between legal and equitable title or
   38  equitable and equitable title and no additional person applies
   39  for a homestead exemption on the property;
   40         c. The change or transfer is by means of an instrument in
   41  which the owner is listed as both grantor and grantee of the
   42  real property and one or more other individuals are additionally
   43  named as grantee. However, if any individual who is additionally
   44  named as a grantee applies for a homestead exemption on the
   45  property, the application is considered a change of ownership;
   46         d. The change or transfer is by means of an instrument in
   47  which the owner entitled to the homestead exemption is listed as
   48  both grantor and grantee of the real property and one or more
   49  other individuals, all of whom held title as joint tenants with
   50  rights of survivorship with the owner, are named only as
   51  grantors and are removed from the title; or
   52         e. The person is a lessee entitled to the homestead
   53  exemption under s. 196.041(1);
   54         2. Legal or equitable title is changed or transferred
   55  between husband and wife, including a change or transfer to a
   56  surviving spouse or a transfer due to a dissolution of marriage;
   57         3. The transfer occurs by operation of law to the surviving
   58  spouse or minor child or children under s. 732.401;
   59         4. Upon the death of the owner, the transfer is between the
   60  owner and another who is a permanent resident and who is legally
   61  or naturally dependent upon the owner; or
   62         5. The transfer occurs with respect to a property where all
   63  of the following apply:
   64         a. Multiple owners hold title as joint tenants with rights
   65  of survivorship;
   66         b. One or more owners were entitled to and received the
   67  homestead exemption on the property;
   68         c. The death of one or more owners occurs; and
   69         d. Subsequent to the transfer, the surviving owner or
   70  owners previously entitled to and receiving the homestead
   71  exemption continue to be entitled to and receive the homestead
   72  exemption.
   73         Section 2. This act shall take effect on the effective date
   74  of the amendment to the State Constitution proposed by SJR 278
   75  or a similar joint resolution having substantially the same
   76  specific intent and purpose, if such amendment is approved at
   77  the next general election or at an earlier special election
   78  specifically authorized by law for that purpose.