Florida Senate - 2026 SJR 550 By Senator Bernard 24-00725-26 2026550__ Page 1 of 11 CODING: Words stricken are deletions; words underlined are additions. Senate Joint Resolution 1 A joint resolution proposing amendments to Sections 3, 2 4, and 9 of

Article VII and creating a new

section in 3

Article XII of the State Constitution to prohibit 4 levying ad valorem taxes on tangible personal property 5 by counties, school districts, and municipalities and 6 to provide an effective date. 7 8 Be It Resolved by the Legislature of the State of Florida: 9 10 That the following amendments to Sections 3, 4, and 9 of 11

Article VII and the creation of a new

section in

Article XII of 12 the State Constitution are agreed to and shall be submitted to 13 the electors of this state for approval or rejection at the next 14 general election or at an earlier special election specifically 15 authorized by law for that purpose: 16

ARTICLE VII 17 FINANCE AND TAXATION 18

SECTION 3. Taxes; exemptions.— 19 (

a) All property owned by a municipality and used 20 exclusively by it for municipal or public purposes shall be 21 exempt from taxation. A municipality, owning property outside 22 the municipality, may be required by general law to make payment 23 to the taxing unit in which the property is located. Such 24 portions of property as are used predominantly for educational, 25 literary, scientific, religious or charitable purposes may be 26 exempted by general law from taxation. 27 (

b) There shall be exempt from taxation, cumulatively, to 28 every head of a family residing in this state, household goods 29

Florida Senate - 2026 SJR 550 24-00725-26 2026550__ Page 2 of 11 CODING: Words stricken are deletions; words underlined are additions. and personal effects to the value fixed by general law, not less 30 than one thousand dollars, and to every widow or widower or 31 person who is blind or totally and permanently disabled, 32 property to the value fixed by general law not less than five 33 hundred dollars. 34 (

c) Any county or municipality may, for the purpose of its 35 respective tax levy and subject to the provisions of this 36 subsection and general law, grant community and economic 37 development ad valorem tax exemptions to new businesses and 38 expansions of existing businesses, as defined by general law. 39 Such an exemption may be granted only by ordinance of the county 40 or municipality, and only after the electors of the county or 41 municipality voting on such question in a referendum authorize 42 the county or municipality to adopt such ordinances.

An 43 exemption so granted shall apply to improvements to real 44 property made by or for the use of a new business and 45 improvements to real property related to the expansion of an 46 existing business and shall also apply to tangible personal 47 property of such new business and tangible personal property 48 related to the expansion of an existing business. The amount or 49 limits of the amount of such exemption shall be specified by 50 general law. The period of time for which such exemption may be 51 granted to a new business or expansion of an existing business 52 shall be determined by general law.

The authority to grant such 53 exemption shall expire ten years from the date of approval by 54 the electors of the county or municipality, and may be renewable 55 by referendum as provided by general law. 56 (

d) Any county or municipality may, for the purpose of its 57 respective tax levy and subject to the provisions of this 58

Florida Senate - 2026 SJR 550 24-00725-26 2026550__ Page 3 of 11 CODING: Words stricken are deletions; words underlined are additions. subsection and general law, grant historic preservation ad 59 valorem tax exemptions to owners of historic properties. This 60 exemption may be granted only by ordinance of the county or 61 municipality. The amount or limits of the amount of this 62 exemption and the requirements for eligible properties must be 63 specified by general law. The period of time for which this 64 exemption may be granted to a property owner shall be determined 65 by general law. 66 (

e) By general law and subject to conditions specified 67 therein: 68

(1) Twenty-five thousand dollars of the assessed value of 69 property subject to tangible personal property tax shall be 70 exempt from ad valorem taxation. 71

(2) The assessed value of solar devices or renewable energy 72 source devices subject to tangible personal property tax may be 73 exempt from ad valorem taxation, subject to limitations provided 74 by general law. 75 (

f) There shall be granted an ad valorem tax exemption for 76 real property dedicated in perpetuity for conservation purposes, 77 including real property encumbered by perpetual conservation 78 easements or by other perpetual conservation protections, as 79 defined by general law. 80 (f)(

g) By general law and subject to the conditions 81 specified therein, each person who receives a homestead 82 exemption as provided in

section 6 of this article; who was a 83 member of the United States military or military reserves, the 84 United States Coast Guard or its reserves, or the Florida 85 National Guard; and who was deployed during the preceding 86 calendar year on active duty outside the continental United 87

Florida Senate - 2026 SJR 550 24-00725-26 2026550__ Page 4 of 11 CODING: Words stricken are deletions; words underlined are additions. States, Alaska, or Hawaii in support of military operations 88 designated by the legislature shall receive an additional 89 exemption equal to a percentage of the taxable value of his or 90 her homestead property. The applicable percentage shall be 91 calculated as the number of days during the preceding calendar 92 year the person was deployed on active duty outside the 93 continental United States, Alaska, or Hawaii in support of 94 military operations designated by the legislature divided by the 95 number of days in that year. 96

SECTION 4. Taxation; assessments.—By general law 97 regulations shall be prescribed which shall secure a just 98 valuation of all property for ad valorem taxation, provided: 99 (

a) Agricultural land, land producing high water recharge 100 to Florida’s aquifers, or land used exclusively for 101 noncommercial recreational purposes may be classified by general 102 law and assessed solely on the basis of character or use. 103 (

b) As provided by general law and subject to conditions, 104 limitations, and reasonable

definitions specified therein, land 105 used for conservation purposes shall be classified by general 106 law and assessed solely on the basis of character or use. 107 (

c) Pursuant to general law tangible personal property held 108 for sale as stock in trade and livestock may be valued for 109 taxation at a specified percentage of its value, may be 110 classified for tax purposes, or may be exempted from taxation. 111 (

d) All persons entitled to a homestead exemption under 112

section 6 of this

article shall have their homestead assessed at 113 just value as of January 1 of the year following the effective 114 date of this amendment. This assessment shall change only as 115 provided in this subsection. 116

Florida Senate - 2026 SJR 550 24-00725-26 2026550__ Page 5 of 11 CODING: Words stricken are deletions; words underlined are additions.

(1) Assessments subject to this subsection shall be changed 117 annually on January 1st of each year; but those changes in 118 assessments shall not exceed the lower of the following: 119 a. Three percent (3%) of the assessment for the prior year. 120 b. The percent change in the Consumer Price Index for all 121 urban consumers, U.S. City Average, all items 1967=100, or 122 successor reports for the preceding calendar year as initially 123 reported by the United States Department of Labor, Bureau of 124 Labor Statistics. 125

(2) No assessment shall exceed just value. 126

(3) After any change of ownership, as provided by general 127 law, homestead property shall be assessed at just value as of 128 January 1 of the following year, unless the provisions of 129 paragraph (8) apply. Thereafter, the homestead shall be assessed 130 as provided in this subsection. 131

(4) New homestead property shall be assessed at just value 132 as of January 1st of the year following the establishment of the 133 homestead, unless the provisions of paragraph (8) apply. That 134 assessment shall only change as provided in this subsection. 135

(5) Changes, additions, reductions, or improvements to 136 homestead property shall be assessed as provided for by general 137 law; provided, however, after the adjustment for any change, 138 addition, reduction, or improvement, the property shall be 139 assessed as provided in this subsection. 140

(6) In the event of a termination of homestead status, the 141 property shall be assessed as provided by general law. 142

(7) The provisions of this amendment are severable. If any 143 of the provisions of this amendment shall be held 144 unconstitutional by any court of competent jurisdiction, the 145

Florida Senate - 2026 SJR 550 24-00725-26 2026550__ Page 6 of 11 CODING: Words stricken are deletions; words underlined are additions. decision of such court shall not affect or impair any remaining 146 provisions of this amendment. 147 (8)a. A person who establishes a new homestead as of 148 January 1 and who has received a homestead exemption pursuant to 149

section 6 of this

article as of January 1 of any of the three 150 years immediately preceding the establishment of the new 151 homestead is entitled to have the new homestead assessed at less 152 than just value. The assessed value of the newly established 153 homestead shall be determined as follows: 154 1.

If the just value of the new homestead is greater than 155 or equal to the just value of the prior homestead as of January 156 1 of the year in which the prior homestead was abandoned, the 157 assessed value of the new homestead shall be the just value of 158 the new homestead minus an amount equal to the lesser of 159 $500,000 or the difference between the just value and the 160 assessed value of the prior homestead as of January 1 of the 161 year in which the prior homestead was abandoned. Thereafter, the 162 homestead shall be assessed as provided in this subsection. 163 2.

If the just value of the new homestead is less than the 164 just value of the prior homestead as of January 1 of the year in 165 which the prior homestead was abandoned, the assessed value of 166 the new homestead shall be equal to the just value of the new 167 homestead divided by the just value of the prior homestead and 168 multiplied by the assessed value of the prior homestead. 169 However, if the difference between the just value of the new 170 homestead and the assessed value of the new homestead calculated 171 pursuant to this sub-subparagraph is greater than $500,000, the 172 assessed value of the new homestead shall be increased so that 173 the difference between the just value and the assessed value 174

Florida Senate - 2026 SJR 550 24-00725-26 2026550__ Page 7 of 11 CODING: Words stricken are deletions; words underlined are additions. equals $500,000. Thereafter, the homestead shall be assessed as 175 provided in this subsection. 176 b. By general law and subject to conditions specified 177 therein, the legislature shall provide for application of this 178 paragraph to property owned by more than one person. 179 (d)(

e) The legislature may, by general law, for assessment 180 purposes and subject to the provisions of this subsection, allow 181 counties and municipalities to authorize by ordinance that 182 historic property may be assessed solely on the basis of 183 character or use. Such character or use assessment shall apply 184 only to the jurisdiction adopting the ordinance. The 185 requirements for eligible properties must be specified by 186 general law. 187 (e)(

f) A county may, in the manner prescribed by general 188 law, provide for a reduction in the assessed value of homestead 189 property to the extent of any increase in the assessed value of 190 that property which results from the construction or 191 reconstruction of the property for the purpose of providing 192 living quarters for one or more natural or adoptive grandparents 193 or parents of the owner of the property or of the owner’s spouse 194 if at least one of the grandparents or parents for whom the 195 living quarters are provided is 62 years of age or older. Such a 196 reduction may not exceed the lesser of the following: 197

(1) The increase in assessed value resulting from 198 construction or reconstruction of the property. 199

(2) Twenty percent (20%) of the total assessed value of the 200 property as improved. 201 (f)(

g) For all levies other than school district levies, 202 assessments of residential real property, as defined by general 203

Florida Senate - 2026 SJR 550 24-00725-26 2026550__ Page 8 of 11 CODING: Words stricken are deletions; words underlined are additions. law, which contains nine units or fewer and which is not subject 204 to the assessment limitations set forth in subsections (a) 205 through (

d) shall change only as provided in this subsection. 206

(1) Assessments subject to this subsection shall be changed 207 annually on the date of assessment provided by law; but those 208 changes in assessments shall not exceed ten percent (10%) of the 209 assessment for the prior year. 210

(2) No assessment shall exceed just value. 211

(3) After a change of ownership or control, as defined by 212 general law, including any change of ownership of a legal entity 213 that owns the property, such property shall be assessed at just 214 value as of the next assessment date. Thereafter, such property 215 shall be assessed as provided in this subsection. 216

(4) Changes, additions, reductions, or improvements to such 217 property shall be assessed as provided for by general law; 218 however, after the adjustment for any change, addition, 219 reduction, or improvement, the property shall be assessed as 220 provided in this subsection. 221 (g)(

h) For all levies other than school district levies, 222 assessments of real property that is not subject to the 223 assessment limitations set forth in subsections (a), (b), (c), 224 (

a) through (

d) and (f) (

g) shall change only as provided in 225 this subsection. 226

(1) Assessments subject to this subsection shall be changed 227 annually on the date of assessment provided by law; but those 228 changes in assessments shall not exceed ten percent (10%) of the 229 assessment for the prior year. 230

(2) No assessment shall exceed just value. 231

(3) The legislature must provide that such property shall 232

Florida Senate - 2026 SJR 550 24-00725-26 2026550__ Page 9 of 11 CODING: Words stricken are deletions; words underlined are additions. be assessed at just value as of the next assessment date after a 233 qualifying improvement, as defined by general law, is made to 234 such property. Thereafter, such property shall be assessed as 235 provided in this subsection. 236

(4) The legislature may provide that such property shall be 237 assessed at just value as of the next assessment date after a 238 change of ownership or control, as defined by general law, 239 including any change of ownership of the legal entity that owns 240 the property. Thereafter, such property shall be assessed as 241 provided in this subsection. 242

(5) Changes, additions, reductions, or improvements to such 243 property shall be assessed as provided for by general law; 244 however, after the adjustment for any change, addition, 245 reduction, or improvement, the property shall be assessed as 246 provided in this subsection. 247 (h)(

i) The legislature, by general law and subject to 248 conditions specified therein, may prohibit the consideration of 249 the following in the determination of the assessed value of real 250 property: 251

(1) Any change or improvement to real property used for 252 residential purposes made to improve the property’s resistance 253 to wind damage. 254

(2) The installation of a solar or renewable energy source 255 device. 256 (i)(j)

(1) The assessment of the following working 257 waterfront properties shall be based upon the current use of the 258 property: 259 a. Land used predominantly for commercial fishing purposes. 260 b. Land that is accessible to the public and used for 261

Florida Senate - 2026 SJR 550 24-00725-26 2026550__ Page 10 of 11 CODING: Words stricken are deletions; words underlined are additions. vessel launches into waters that are navigable. 262 c. Marinas and drystacks that are open to the public. 263 d. Water-dependent marine manufacturing facilities, 264 commercial fishing facilities, and marine vessel construction 265 and repair facilities and their support activities. 266

(2) The assessment benefit provided by this subsection is 267 subject to conditions and limitations and reasonable

definitions 268 as specified by the legislature by general law. 269

SECTION 9. Local taxes.— 270 (

a) Counties, school districts, and municipalities shall, 271 and special districts may, be authorized by law to levy ad 272 valorem taxes and may be authorized by general law to levy other 273 taxes, for their respective purposes, except ad valorem taxes on 274 intangible personal property and tangible personal property and 275 taxes prohibited by this constitution. 276 (

b) Ad valorem taxes, exclusive of taxes levied for the 277 payment of bonds and taxes levied for periods not longer than 278 two years when authorized by vote of the electors who are the 279 owners of freeholds therein not wholly exempt from taxation, 280 shall not be levied in excess of the following millages upon the 281 assessed value of real estate and tangible personal property: 282 for all county purposes, ten mills; for all municipal purposes, 283 ten mills; for all school purposes, ten mills; for water 284 management purposes for the northwest portion of the state lying 285 west of the line between ranges two and three east, 0.05 mill; 286 for water management purposes for the remaining portions of the 287 state, 1.0 mill; and for all other special districts a millage 288 authorized by law approved by vote of the electors who are 289 owners of freeholds therein not wholly exempt from taxation.

A 290

Florida Senate - 2026 SJR 550 24-00725-26 2026550__ Page 11 of 11 CODING: Words stricken are deletions; words underlined are additions. county furnishing municipal services may, to the extent 291 authorized by law, levy additional taxes within the limits fixed 292 for municipal purposes. 293

ARTICLE XII 294

SCHEDULE 295 Prohibition on levying ad valorem taxes on tangible 296 personal property by counties, school districts, and 297 municipalities.—This

section and the amendments to Sections 3, 298 4, and 9 of

Article VII, prohibiting the levying of ad valorem 299 taxes on tangible personal property by counties, school 300 districts, and municipalities, shall take effect January 1, 301 2027. 302 BE IT FURTHER RESOLVED that the following statement be 303 placed on the ballot: 304 CONSTITUTIONAL AMENDMENT 305

ARTICLE VII, SECTIONS 3, 4, AND 9 306

ARTICLE XII 307 PROHIBITION ON LEVYING AD VALOREM TAXES ON TANGIBLE 308 PERSONAL PROPERTY BY CERTAIN ENTITIES.—Proposing amendments to 309 the State Constitution to prohibit the levying of ad valorem 310 taxes on tangible personal property by counties, school 311 districts, and municipalities. This amendment takes effect 312 January 1, 2027. 313