Florida Senate - 2026                                     SB 286
       
       
        
       By Senator Bernard
       
       
       
       
       
       24-00661-26                                            2026286__
    1                        A bill to be entitled                      
    2         An act relating to the assessment of changes,
    3         additions, or improvements to homestead properties;
    4         amending s. 193.155, F.S.; revising the manner of
    5         assessing the value of changes, additions, or
    6         improvements to homestead property; providing an
    7         effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Paragraphs (a), (b), and (c) of subsection (4)
   12  of section 193.155, Florida Statutes, are amended to read:
   13         193.155 Homestead assessments.—Homestead property shall be
   14  assessed at just value as of January 1, 1994. Property receiving
   15  the homestead exemption after January 1, 1994, shall be assessed
   16  at just value as of January 1 of the year in which the property
   17  receives the exemption unless the provisions of subsection (8)
   18  apply.
   19         (4)(a) Except as provided in paragraph (b) and s. 193.624,
   20  changes, additions, or improvements to homestead property shall
   21  be assessed at just value as of the first January 1 after the
   22  changes, additions, or improvements are substantially completed.
   23         (b) If the total just value of changes, additions, or
   24  improvements to a homestead property is less than $100,000, the
   25  assessment of the added value must be calculated by multiplying:
   26         1. The percentage obtained by dividing the property’s
   27  assessed value as of January 1 immediately before the change,
   28  addition, or improvement, by the property’s just value as of
   29  that same date; and
   30         2. The just value of the change, addition, or improvement.
   31         (c) Paragraph (b) does not apply to changes, additions, or
   32  improvements that replace all or a substantial portion of the
   33  property or that increase the total square footage of the
   34  property by more than 25 percent.
   35         1. Changes, additions, or improvements that replace all or
   36  a portion of homestead property, including ancillary
   37  improvements, damaged or destroyed by misfortune or calamity
   38  shall be assessed upon substantial completion as provided in
   39  this paragraph. Such assessment must be calculated using the
   40  homestead property’s assessed value as of the January 1
   41  immediately before the date on which the damage or destruction
   42  was sustained, subject to the assessment limitations in
   43  subsections (1) and (2), when:
   44         a. The square footage of the homestead property as changed
   45  or improved does not exceed 130 percent of the square footage of
   46  the homestead property before the damage or destruction; or
   47         b. The total square footage of the homestead property as
   48  changed or improved does not exceed 2,000 square feet.
   49         2. The homestead property’s assessed value must be
   50  increased by the just value of that portion of the changed or
   51  improved homestead property which is in excess of 130 percent of
   52  the square footage of the homestead property before the damage
   53  or destruction or of that portion exceeding 2,000 square feet.
   54         3. Homestead property damaged or destroyed by misfortune or
   55  calamity which, after being changed or improved, has a square
   56  footage of less than 100 percent of the homestead property’s
   57  total square footage before the damage or destruction shall be
   58  assessed pursuant to subsection (5).
   59         4. Changes, additions, or improvements assessed pursuant to
   60  this paragraph must be reassessed pursuant to subsection (1) in
   61  subsequent years. This paragraph applies to changes, additions,
   62  or improvements commenced within 5 years after the January 1
   63  following the damage or destruction of the homestead.
   64         (c) Changes, additions, or improvements that replace all or
   65  a portion of real property that was damaged or destroyed by
   66  misfortune or calamity shall be assessed upon substantial
   67  completion as if such damage or destruction had not occurred and
   68  in accordance with paragraph (b) if the owner of such property:
   69         1. Was permanently residing on such property when the
   70  damage or destruction occurred;
   71         2. Was not entitled to receive homestead exemption on such
   72  property as of January 1 of that year; and
   73         3. Applies for and receives homestead exemption on such
   74  property the following year.
   75         Section 2. This act shall take effect July 1, 2026.