Florida Senate - 2026 SJR 282
By Senator Bernard
24-00640-26 2026282__
1 Senate Joint Resolution
2 A joint resolution proposing an amendment to Section 4
3 of Article VII and the creation of a new section in
4 Article XII of the State Constitution to limit the
5 assessed value of real property owned and used for
6 commercial purposes by a small business for ad valorem
7 taxation purposes so that such assessed value may not
8 exceed 3 percent or the percentage change in the
9 Consumer Price Index, whichever is lower, and to
10 provide an effective date.
11
12 Be It Resolved by the Legislature of the State of Florida:
13
14 That the following amendment to Section 4 of Article VII
15 and the creation of a new section of Article XII of the State
16 Constitution are agreed to and shall be submitted to the
17 electors of this state for approval or rejection at the next
18 general election or at an earlier special election specifically
19 authorized by law for that purpose:
20 ARTICLE VII
21 FINANCE AND TAXATION
22 SECTION 4. Taxation; assessments.—By general law
23 regulations shall be prescribed which shall secure a just
24 valuation of all property for ad valorem taxation, provided:
25 (a) Agricultural land, land producing high water recharge
26 to Florida’s aquifers, or land used exclusively for
27 noncommercial recreational purposes may be classified by general
28 law and assessed solely on the basis of character or use.
29 (b) As provided by general law and subject to conditions,
30 limitations, and reasonable definitions specified therein, land
31 used for conservation purposes shall be classified by general
32 law and assessed solely on the basis of character or use.
33 (c) Pursuant to general law tangible personal property held
34 for sale as stock in trade and livestock may be valued for
35 taxation at a specified percentage of its value, may be
36 classified for tax purposes, or may be exempted from taxation.
37 (d) All persons entitled to a homestead exemption under
38 Section 6 of this Article shall have their homestead assessed at
39 just value as of January 1 of the year following the effective
40 date of this amendment. This assessment shall change only as
41 provided in this subsection.
42 (1) Assessments subject to this subsection shall be changed
43 annually on January 1st of each year; but those changes in
44 assessments shall not exceed the lower of the following:
45 a. Three percent (3%) of the assessment for the prior year.
46 b. The percent change in the Consumer Price Index for all
47 urban consumers, U.S. City Average, all items 1967=100, or
48 successor reports for the preceding calendar year as initially
49 reported by the United States Department of Labor, Bureau of
50 Labor Statistics.
51 (2) No assessment shall exceed just value.
52 (3) After any change of ownership, as provided by general
53 law, homestead property shall be assessed at just value as of
54 January 1 of the following year, unless the provisions of
55 paragraph (8) apply. Thereafter, the homestead shall be assessed
56 as provided in this subsection.
57 (4) New homestead property shall be assessed at just value
58 as of January 1st of the year following the establishment of the
59 homestead, unless the provisions of paragraph (8) apply. That
60 assessment shall only change as provided in this subsection.
61 (5) Changes, additions, reductions, or improvements to
62 homestead property shall be assessed as provided for by general
63 law; provided, however, after the adjustment for any change,
64 addition, reduction, or improvement, the property shall be
65 assessed as provided in this subsection.
66 (6) In the event of a termination of homestead status, the
67 property shall be assessed as provided by general law.
68 (7) The provisions of this amendment are severable. If any
69 of the provisions of this amendment shall be held
70 unconstitutional by any court of competent jurisdiction, the
71 decision of such court shall not affect or impair any remaining
72 provisions of this amendment.
73 (8)a. A person who establishes a new homestead as of
74 January 1 and who has received a homestead exemption pursuant to
75 Section 6 of this Article as of January 1 of any of the three
76 years immediately preceding the establishment of the new
77 homestead is entitled to have the new homestead assessed at less
78 than just value. The assessed value of the newly established
79 homestead shall be determined as follows:
80 1. If the just value of the new homestead is greater than
81 or equal to the just value of the prior homestead as of January
82 1 of the year in which the prior homestead was abandoned, the
83 assessed value of the new homestead shall be the just value of
84 the new homestead minus an amount equal to the lesser of
85 $500,000 or the difference between the just value and the
86 assessed value of the prior homestead as of January 1 of the
87 year in which the prior homestead was abandoned. Thereafter, the
88 homestead shall be assessed as provided in this subsection.
89 2. If the just value of the new homestead is less than the
90 just value of the prior homestead as of January 1 of the year in
91 which the prior homestead was abandoned, the assessed value of
92 the new homestead shall be equal to the just value of the new
93 homestead divided by the just value of the prior homestead and
94 multiplied by the assessed value of the prior homestead.
95 However, if the difference between the just value of the new
96 homestead and the assessed value of the new homestead calculated
97 pursuant to this sub-subparagraph is greater than $500,000, the
98 assessed value of the new homestead shall be increased so that
99 the difference between the just value and the assessed value
100 equals $500,000. Thereafter, the homestead shall be assessed as
101 provided in this subsection.
102 b. By general law and subject to conditions specified
103 therein, the legislature shall provide for application of this
104 paragraph to property owned by more than one person.
105 (e) The legislature may, by general law, for assessment
106 purposes and subject to the provisions of this subsection, allow
107 counties and municipalities to authorize by ordinance that
108 historic property may be assessed solely on the basis of
109 character or use. Such character or use assessment shall apply
110 only to the jurisdiction adopting the ordinance. The
111 requirements for eligible properties must be specified by
112 general law.
113 (f) A county may, in the manner prescribed by general law,
114 provide for a reduction in the assessed value of homestead
115 property to the extent of any increase in the assessed value of
116 that property which results from the construction or
117 reconstruction of the property for the purpose of providing
118 living quarters for one or more natural or adoptive grandparents
119 or parents of the owner of the property or of the owner’s spouse
120 if at least one of the grandparents or parents for whom the
121 living quarters are provided is 62 years of age or older. Such a
122 reduction may not exceed the lesser of the following:
123 (1) The increase in assessed value resulting from
124 construction or reconstruction of the property.
125 (2) Twenty percent of the total assessed value of the
126 property as improved.
127 (g) For all levies other than school district levies,
128 assessments of residential real property, as defined by general
129 law, which contains nine units or fewer and which is not subject
130 to the assessment limitations set forth in subsections (a)
131 through (d) shall change only as provided in this subsection.
132 (1) Assessments subject to this subsection shall be changed
133 annually on the date of assessment provided by law; but those
134 changes in assessments shall not exceed ten percent (10%) of the
135 assessment for the prior year.
136 (2) No assessment shall exceed just value.
137 (3) After a change of ownership or control, as defined by
138 general law, including any change of ownership of a legal entity
139 that owns the property, such property shall be assessed at just
140 value as of the next assessment date. Thereafter, such property
141 shall be assessed as provided in this subsection.
142 (4) Changes, additions, reductions, or improvements to such
143 property shall be assessed as provided for by general law;
144 however, after the adjustment for any change, addition,
145 reduction, or improvement, the property shall be assessed as
146 provided in this subsection.
147 (h) For all levies other than school district levies,
148 assessments of real property that is not subject to the
149 assessment limitations set forth in subsections (a) through (d),
150 and (g), and (k) shall change only as provided in this
151 subsection.
152 (1) Assessments subject to this subsection shall be changed
153 annually on the date of assessment provided by law; but those
154 changes in assessments shall not exceed ten percent (10%) of the
155 assessment for the prior year.
156 (2) No assessment shall exceed just value.
157 (3) The legislature must provide that such property shall
158 be assessed at just value as of the next assessment date after a
159 qualifying improvement, as defined by general law, is made to
160 such property. Thereafter, such property shall be assessed as
161 provided in this subsection.
162 (4) The legislature may provide that such property shall be
163 assessed at just value as of the next assessment date after a
164 change of ownership or control, as defined by general law,
165 including any change of ownership of the legal entity that owns
166 the property. Thereafter, such property shall be assessed as
167 provided in this subsection.
168 (5) Changes, additions, reductions, or improvements to such
169 property shall be assessed as provided for by general law;
170 however, after the adjustment for any change, addition,
171 reduction, or improvement, the property shall be assessed as
172 provided in this subsection.
173 (i) The legislature, by general law and subject to
174 conditions specified therein, may prohibit the consideration of
175 the following in the determination of the assessed value of real
176 property:
177 (1) Any change or improvement to real property used for
178 residential purposes made to improve the property’s resistance
179 to wind damage.
180 (2) The installation of a solar or renewable energy source
181 device.
182 (j)
183 (1) The assessment of the following working waterfront
184 properties shall be based upon the current use of the property:
185 a. Land used predominantly for commercial fishing purposes.
186 b. Land that is accessible to the public and used for
187 vessel launches into waters that are navigable.
188 c. Marinas and drystacks that are open to the public.
189 d. Water-dependent marine manufacturing facilities,
190 commercial fishing facilities, and marine vessel construction
191 and repair facilities and their support activities.
192 (2) The assessment benefit provided by this subsection is
193 subject to conditions and limitations and reasonable definitions
194 as specified by the legislature by general law.
195 (k) Real property owned and used for commercial purposes by
196 a small business, as defined by general law, shall be assessed
197 at just value as of January 1 of the year following the year in
198 which the property first qualifies as property owned and used by
199 a small business. Thereafter, assessments of the property may
200 not exceed the lower of the following:
201 (1) Three percent of the assessment for the prior year.
202 (2) The percent change in the Consumer Price Index for all
203 urban consumers, U.S. City Average, all items 1967=100, or
204 successor reports for the preceding calendar year as initially
205 reported by the United States Department of Labor, Bureau of
206 Labor Statistics.
207 ARTICLE XII
208 SCHEDULE
209 Limitation on the assessed value of property owned and used
210 for commercial purposes by small businesses.—This section and
211 the amendment to Section 4 of Article VII, limiting the assessed
212 value of real property owned and used for commercial purposes by
213 a small business for ad valorem taxation purposes so that such
214 assessed value may not exceed three percent or the percentage
215 change in the Consumer Price Index, whichever is lower, shall
216 take effect January 1, 2027.
217 BE IT FURTHER RESOLVED that the following statement be
218 placed on the ballot:
219 CONSTITUTIONAL AMENDMENT
220 ARTICLE VII, SECTION 4
221 ARTICLE XII
222 LIMITATION ON THE ASSESSMENT OF PROPERTY OWNED AND USED FOR
223 COMMERCIAL PURPOSES BY SMALL BUSINESSES.—Proposing an amendment
224 to the State Constitution to limit the assessed value of real
225 property owned and used for commercial purposes by a small
226 business for ad valorem taxation purposes so that such assessed
227 value may not exceed 3 percent or the percentage change in the
228 Consumer Price Index, whichever is lower. This amendment takes
229 effect January 1, 2027.