Limitation on the Assessed Value of New Homestead Property
SJR 278 caps assessed values of new homesteads under $500,000 at 150% of the previous year's value, easing property tax burdens for homeowners in Florida.
SJR 278 caps assessed values of new homesteads under $500,000 at 150% of the previous year's value, easing property tax burdens for homeowners in Florida.
Bill Information:
- Bill Number: SJR 278
- Title: Limitation on the Assessed Value of New Homestead Property
- Status: Filed
- Introduced: October 23, 2025
- Classification: Joint Resolution
- Subject: Constitutional amendments, concurrent
Senate Joint Resolution 278 (SJR 278) proposes an amendment to the Florida State Constitution aimed at limiting the assessed value of new homestead properties established after a change of ownership. The intent is to provide financial relief to homeowners by capping the assessed value for ad valorem taxation purposes, thereby potentially lowering property tax burdens.
Assessment Limitation:
Amendment to Article VII:
New Section in Article XII:
Assessment Adjustments:
Severability Clause:
SJR 278 seeks to amend the Florida Constitution to provide a cap on the assessed value of new homestead properties, aiming to alleviate property tax burdens for homeowners. If passed, this resolution could significantly impact property tax assessments and local government revenues in Florida.
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