Senate Bill 286 (2026) — Assessment of changes, additions, or improvements to homestead properties
SB 286
Florida Bills
Florida Senate - 2026 SB By Senator Bernard 24-00661-26 2026286__ CODING: Words stricken are deletions; words underlined are additions. A bill to be entitled
An act relating to the assessment of changes, 2 additions, or improvements to homestead properties; 3 amending s. 193.155, F.S.; revising the manner of assessing the value of changes, additions, or improvements to homestead property; providing an effective date. 7
Be It Enacted by the Legislature of the State of Florida: 9
Section 1. Paragraphs (a), (b), and
(
c) of subsection (4) 11 of
section 193.155, Florida Statutes, are amended to read: 12 193.155 Homestead assessments.—Homestead property shall be assessed at just value as of January 1, 1994. Property receiving the homestead exemption after January 1, 1994, shall be assessed at just value as of January of the year in which the property receives the exemption unless the provisions of subsection (8) 17 apply. 18 (4)(
a) Except as provided in paragraph
(
b) and s. 193.624, 19 changes, additions, or improvements to homestead property shall be assessed at just value as of the first January after the changes, additions, or improvements are substantially completed. 22
(
b) If the total just value of changes, additions, or improvements to a homestead property is less than $100,000, the assessment of the added value must be calculated by multiplying: 25 1. The percentage obtained by dividing the property’s assessed value as of January immediately before the change, 27 addition, or improvement, by the property’s just value as of that same date; and Florida Senate - 2026 SB 286 24-00661-26 2026286__ CODING: Words stricken are deletions; words underlined are additions. 2. The just value of the change, addition, or improvement. 30
(
c) Paragraph
(
b) does not apply to changes, additions, or improvements that replace all or a substantial portion of the property or that increase the total square footage of the property by more than percent. 34 1. Changes, additions, or improvements that replace all or a portion of homestead property, including ancillary improvements, damaged or destroyed by misfortune or calamity shall be assessed upon substantial completion as provided in this paragraph.
Such assessment must be calculated using the homestead property’s assessed value as of the January 1 immediately before the date on which the damage or destruction was sustained, subject to the assessment limitations in subsections (1) and (2), when: 43 a. The square footage of the homestead property as changed or improved does not exceed percent of the square footage of the homestead property before the damage or destruction; or b. The total square footage of the homestead property as changed or improved does not exceed 2,000 square feet. 48 2.
The homestead property’s assessed value must be increased by the just value of that portion of the changed or improved homestead property which is in excess of percent of the square footage of the homestead property before the damage or destruction or of that portion exceeding 2,000 square feet. 53 3.
Homestead property damaged or destroyed by misfortune or calamity which, after being changed or improved, has a square footage of less than percent of the homestead property’s total square footage before the damage or destruction shall be assessed pursuant to subsection (5). 58 Florida Senate - 2026 SB 286 24-00661-26 2026286__ CODING: Words stricken are deletions; words underlined are additions. 4. Changes, additions, or improvements assessed pursuant to this paragraph must be reassessed pursuant to subsection (1) in subsequent years.
This paragraph applies to changes, additions, 61 or improvements commenced within years after the January 1 following the damage or destruction of the homestead. 63
(
c) Changes, additions, or improvements that replace all or a portion of real property that was damaged or destroyed by misfortune or calamity shall be assessed upon substantial completion as if such damage or destruction had not occurred and in accordance with paragraph
(
b) if the owner of such property: 68 1. Was permanently residing on such property when the damage or destruction occurred; 70 2. Was not entitled to receive homestead exemption on such property as of January of that year; and 72 3. Applies for and receives homestead exemption on such property the following year. 74