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SJR 282

Limitation on the Assessed Value of Property Owned and Used for Commercial Purposes by Small Businesses

2026 Regular Session Introduced by Mack Bernard

SJR 282 caps assessed values of small business commercial properties at 3% or CPI change, easing tax burdens and promoting economic growth in Florida.

Died in Finance and Tax
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Bill Summary · SJR 282

Summary of SJR 282: Limitation on the Assessed Value of Property Owned and Used for Commercial Purposes by Small Businesses

Bill Information:
- Bill Number: SJR 282
- Title: Limitation on the Assessed Value of Property Owned and Used for Commercial Purposes by Small Businesses
- Status: Filed
- Introduced: October 23, 2025
- Classification: Joint Resolution
- Subject: Constitutional Amendments, Concurrent

Purpose and Intent

SJR 282 proposes an amendment to the Florida State Constitution aimed at providing financial relief to small businesses by limiting the assessed value of their commercial properties for ad valorem taxation. The intent is to stabilize property taxes for small businesses, making it easier for them to manage their financial obligations and promote economic growth.

Key Provisions

  • Assessment Limitation: The assessed value of real property owned and used for commercial purposes by small businesses would be capped at:

    • 3% of the previous year's assessed value, or
    • The percentage change in the Consumer Price Index (CPI) for all urban consumers, whichever is lower.

  • Amendment to Article VII: The bill proposes to amend Section 4 of Article VII of the Florida Constitution, which deals with taxation and assessments, to incorporate this new limitation.

  • New Section in Article XII: A new section will be created in Article XII to outline the specifics of this limitation and its implementation.

  • Effective Date: The amendment would take effect upon approval by the voters at the next general election or at a special election authorized by law.

Who Would Be Affected?

  • Small Businesses: The primary beneficiaries of this legislation would be small businesses in Florida that own and operate commercial properties. By limiting property tax assessments, these businesses may experience reduced tax burdens, allowing them to allocate resources more effectively.

  • Local Governments: The bill could impact local government revenue from property taxes, as the cap on assessed values may limit the amount of tax revenue collected from small business properties.

Procedural Aspects

  • Voter Approval Required: The proposed amendment must be submitted to the electorate for approval or rejection at the next general election or at a specially authorized election.

  • Legislative Process: As a joint resolution, SJR 282 will undergo the standard legislative process, including committee reviews and potential amendments before being placed on the ballot.

Conclusion

SJR 282 seeks to provide a constitutional amendment that would limit the assessed value of commercial properties owned by small businesses in Florida. By capping property tax assessments, the bill aims to alleviate financial pressures on small businesses, fostering a more favorable economic environment. The resolution is currently filed and awaits further legislative action and voter consideration.

Compiled from official sources — confirm details with the bill’s official record.

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