Florida Senate - 2026 SJR 282 By Senator Bernard 24-00640-26 2026282__ Page 1 of 8 CODING: Words stricken are deletions; words underlined are additions. Senate Joint Resolution 1 A joint resolution proposing an amendment to

Section 4 2 of

Article VII and the creation of a new

section in 3

Article XII of the State Constitution to limit the 4 assessed value of real property owned and used for 5 commercial purposes by a small business for ad valorem 6 taxation purposes so that such assessed value may not 7 exceed 3 percent or the percentage change in the 8 Consumer Price Index, whichever is lower, and to 9 provide an effective date. 10 11 Be It Resolved by the Legislature of the State of Florida: 12 13 That the following amendment to

Section 4 of

Article VII 14 and the creation of a new

section of

Article XII of the State 15 Constitution are agreed to and shall be submitted to the 16 electors of this state for approval or rejection at the next 17 general election or at an earlier special election specifically 18 authorized by law for that purpose: 19

ARTICLE VII 20 FINANCE AND TAXATION 21

SECTION 4. Taxation; assessments.—By general law 22 regulations shall be prescribed which shall secure a just 23 valuation of all property for ad valorem taxation, provided: 24 (

a) Agricultural land, land producing high water recharge 25 to Florida’s aquifers, or land used exclusively for 26 noncommercial recreational purposes may be classified by general 27 law and assessed solely on the basis of character or use. 28 (

b) As provided by general law and subject to conditions, 29

Florida Senate - 2026 SJR 282 24-00640-26 2026282__ Page 2 of 8 CODING: Words stricken are deletions; words underlined are additions. limitations, and reasonable

definitions specified therein, land 30 used for conservation purposes shall be classified by general 31 law and assessed solely on the basis of character or use. 32 (

c) Pursuant to general law tangible personal property held 33 for sale as stock in trade and livestock may be valued for 34 taxation at a specified percentage of its value, may be 35 classified for tax purposes, or may be exempted from taxation. 36 (

d) All persons entitled to a homestead exemption under 37

Section 6 of this

Article shall have their homestead assessed at 38 just value as of January 1 of the year following the effective 39 date of this amendment. This assessment shall change only as 40 provided in this subsection. 41

(1) Assessments subject to this subsection shall be changed 42 annually on January 1st of each year; but those changes in 43 assessments shall not exceed the lower of the following: 44 a. Three percent (3%) of the assessment for the prior year. 45 b. The percent change in the Consumer Price Index for all 46 urban consumers, U.S. City Average, all items 1967=100, or 47 successor reports for the preceding calendar year as initially 48 reported by the United States Department of Labor, Bureau of 49 Labor Statistics. 50

(2) No assessment shall exceed just value. 51

(3) After any change of ownership, as provided by general 52 law, homestead property shall be assessed at just value as of 53 January 1 of the following year, unless the provisions of 54 paragraph (8) apply. Thereafter, the homestead shall be assessed 55 as provided in this subsection. 56

(4) New homestead property shall be assessed at just value 57 as of January 1st of the year following the establishment of the 58

Florida Senate - 2026 SJR 282 24-00640-26 2026282__ Page 3 of 8 CODING: Words stricken are deletions; words underlined are additions. homestead, unless the provisions of paragraph (8) apply. That 59 assessment shall only change as provided in this subsection. 60

(5) Changes, additions, reductions, or improvements to 61 homestead property shall be assessed as provided for by general 62 law; provided, however, after the adjustment for any change, 63 addition, reduction, or improvement, the property shall be 64 assessed as provided in this subsection. 65

(6) In the event of a termination of homestead status, the 66 property shall be assessed as provided by general law. 67

(7) The provisions of this amendment are severable. If any 68 of the provisions of this amendment shall be held 69 unconstitutional by any court of competent jurisdiction, the 70 decision of such court shall not affect or impair any remaining 71 provisions of this amendment. 72 (8)a. A person who establishes a new homestead as of 73 January 1 and who has received a homestead exemption pursuant to 74

Section 6 of this

Article as of January 1 of any of the three 75 years immediately preceding the establishment of the new 76 homestead is entitled to have the new homestead assessed at less 77 than just value. The assessed value of the newly established 78 homestead shall be determined as follows: 79 1.

If the just value of the new homestead is greater than 80 or equal to the just value of the prior homestead as of January 81 1 of the year in which the prior homestead was abandoned, the 82 assessed value of the new homestead shall be the just value of 83 the new homestead minus an amount equal to the lesser of 84 $500,000 or the difference between the just value and the 85 assessed value of the prior homestead as of January 1 of the 86 year in which the prior homestead was abandoned. Thereafter, the 87

Florida Senate - 2026 SJR 282 24-00640-26 2026282__ Page 4 of 8 CODING: Words stricken are deletions; words underlined are additions. homestead shall be assessed as provided in this subsection. 88 2.

If the just value of the new homestead is less than the 89 just value of the prior homestead as of January 1 of the year in 90 which the prior homestead was abandoned, the assessed value of 91 the new homestead shall be equal to the just value of the new 92 homestead divided by the just value of the prior homestead and 93 multiplied by the assessed value of the prior homestead. 94 However, if the difference between the just value of the new 95 homestead and the assessed value of the new homestead calculated 96 pursuant to this sub-subparagraph is greater than $500,000, the 97 assessed value of the new homestead shall be increased so that 98 the difference between the just value and the assessed value 99 equals $500,000.

Thereafter, the homestead shall be assessed as 100 provided in this subsection. 101 b. By general law and subject to conditions specified 102 therein, the legislature shall provide for application of this 103 paragraph to property owned by more than one person. 104 (

e) The legislature may, by general law, for assessment 105 purposes and subject to the provisions of this subsection, allow 106 counties and municipalities to authorize by ordinance that 107 historic property may be assessed solely on the basis of 108 character or use. Such character or use assessment shall apply 109 only to the jurisdiction adopting the ordinance. The 110 requirements for eligible properties must be specified by 111 general law. 112 (

f) A county may, in the manner prescribed by general law, 113 provide for a reduction in the assessed value of homestead 114 property to the extent of any increase in the assessed value of 115 that property which results from the construction or 116

Florida Senate - 2026 SJR 282 24-00640-26 2026282__ Page 5 of 8 CODING: Words stricken are deletions; words underlined are additions. reconstruction of the property for the purpose of providing 117 living quarters for one or more natural or adoptive grandparents 118 or parents of the owner of the property or of the owner’s spouse 119 if at least one of the grandparents or parents for whom the 120 living quarters are provided is 62 years of age or older. Such a 121 reduction may not exceed the lesser of the following: 122

(1) The increase in assessed value resulting from 123 construction or reconstruction of the property. 124

(2) Twenty percent of the total assessed value of the 125 property as improved. 126 (

g) For all levies other than school district levies, 127 assessments of residential real property, as defined by general 128 law, which contains nine units or fewer and which is not subject 129 to the assessment limitations set forth in subsections (a) 130 through (

d) shall change only as provided in this subsection. 131

(1) Assessments subject to this subsection shall be changed 132 annually on the date of assessment provided by law; but those 133 changes in assessments shall not exceed ten percent (10%) of the 134 assessment for the prior year. 135

(2) No assessment shall exceed just value. 136

(3) After a change of ownership or control, as defined by 137 general law, including any change of ownership of a legal entity 138 that owns the property, such property shall be assessed at just 139 value as of the next assessment date. Thereafter, such property 140 shall be assessed as provided in this subsection. 141

(4) Changes, additions, reductions, or improvements to such 142 property shall be assessed as provided for by general law; 143 however, after the adjustment for any change, addition, 144 reduction, or improvement, the property shall be assessed as 145

Florida Senate - 2026 SJR 282 24-00640-26 2026282__ Page 6 of 8 CODING: Words stricken are deletions; words underlined are additions. provided in this subsection. 146 (

h) For all levies other than school district levies, 147 assessments of real property that is not subject to the 148 assessment limitations set forth in subsections (

a) through (d), 149 and (g), and (

k) shall change only as provided in this 150 subsection. 151

(1) Assessments subject to this subsection shall be changed 152 annually on the date of assessment provided by law; but those 153 changes in assessments shall not exceed ten percent (10%) of the 154 assessment for the prior year. 155

(2) No assessment shall exceed just value. 156

(3) The legislature must provide that such property shall 157 be assessed at just value as of the next assessment date after a 158 qualifying improvement, as defined by general law, is made to 159 such property. Thereafter, such property shall be assessed as 160 provided in this subsection. 161

(4) The legislature may provide that such property shall be 162 assessed at just value as of the next assessment date after a 163 change of ownership or control, as defined by general law, 164 including any change of ownership of the legal entity that owns 165 the property. Thereafter, such property shall be assessed as 166 provided in this subsection. 167

(5) Changes, additions, reductions, or improvements to such 168 property shall be assessed as provided for by general law; 169 however, after the adjustment for any change, addition, 170 reduction, or improvement, the property shall be assessed as 171 provided in this subsection. 172 (

i) The legislature, by general law and subject to 173 conditions specified therein, may prohibit the consideration of 174

Florida Senate - 2026 SJR 282 24-00640-26 2026282__ Page 7 of 8 CODING: Words stricken are deletions; words underlined are additions. the following in the determination of the assessed value of real 175 property: 176

(1) Any change or improvement to real property used for 177 residential purposes made to improve the property’s resistance 178 to wind damage. 179

(2) The installation of a solar or renewable energy source 180 device. 181 (j) 182

(1) The assessment of the following working waterfront 183 properties shall be based upon the current use of the property: 184 a. Land used predominantly for commercial fishing purposes. 185 b. Land that is accessible to the public and used for 186 vessel launches into waters that are navigable. 187 c. Marinas and drystacks that are open to the public. 188 d. Water-dependent marine manufacturing facilities, 189 commercial fishing facilities, and marine vessel construction 190 and repair facilities and their support activities. 191

(2) The assessment benefit provided by this subsection is 192 subject to conditions and limitations and reasonable

definitions 193 as specified by the legislature by general law. 194 (

k) Real property owned and used for commercial purposes by 195 a small business, as defined by general law, shall be assessed 196 at just value as of January 1 of the year following the year in 197 which the property first qualifies as property owned and used by 198 a small business. Thereafter, assessments of the property may 199 not exceed the lower of the following: 200

(1) Three percent of the assessment for the prior year. 201

(2) The percent change in the Consumer Price Index for all 202 urban consumers, U.S. City Average, all items 1967=100, or 203

Florida Senate - 2026 SJR 282 24-00640-26 2026282__ Page 8 of 8 CODING: Words stricken are deletions; words underlined are additions. successor reports for the preceding calendar year as initially 204 reported by the United States Department of Labor, Bureau of 205 Labor Statistics. 206

ARTICLE XII 207

SCHEDULE 208 Limitation on the assessed value of property owned and used 209 for commercial purposes by small businesses.—This

section and 210 the amendment to

Section 4 of

Article VII, limiting the assessed 211 value of real property owned and used for commercial purposes by 212 a small business for ad valorem taxation purposes so that such 213 assessed value may not exceed three percent or the percentage 214 change in the Consumer Price Index, whichever is lower, shall 215 take effect January 1, 2027. 216 BE IT FURTHER RESOLVED that the following statement be 217 placed on the ballot: 218 CONSTITUTIONAL AMENDMENT 219

ARTICLE VII,

SECTION 4 220

ARTICLE XII 221 LIMITATION ON THE ASSESSMENT OF PROPERTY OWNED AND USED FOR 222 COMMERCIAL PURPOSES BY SMALL BUSINESSES.—Proposing an amendment 223 to the State Constitution to limit the assessed value of real 224 property owned and used for commercial purposes by a small 225 business for ad valorem taxation purposes so that such assessed 226 value may not exceed 3 percent or the percentage change in the 227 Consumer Price Index, whichever is lower. This amendment takes 228 effect January 1, 2027. 229