No. HJR 207
Filed under Education.
Assessed Home Value Homestead Exemption of Non-school Property Tax; Proposes amendment to State Constitution to add a homestead exemption for levies other than school levies equal to 25 percent of the remaining assessed value after applying existing exemptions, provide construction, prohibit counties and municipalities from reducing total funding for law enforcement, and provide an effective date.
Plain English Summary
AI-GENERATEDHomeowners gain a new tax break equal to 25% of their remaining assessed value, excluding school taxes. This lowers the property tax bill for most Florida residents with a homestead.
Counties and municipalities are legally barred from cutting their total law enforcement budgets below the higher of the 2025 or 2026 levels. This prevents local governments from offsetting the new tax exemption with police budget cuts.
The new exemption is exempt from the annual inflation adjustment mechanism that currently applies to other homestead exemptions. This means the 25% deduction will not automatically increase with the cost of living.
The changes take effect on January 1, 2027, and apply to the 2027-2028 local fiscal year for the law enforcement funding floor.
AICreates a new tax exemption equal to 25% of the remaining assessed value after applying existing exemptions, applicable to all levies except school district levies.
AIProhibits counties and municipalities from reducing total law enforcement funding below the higher of the 2025-2026 or 2026-2027 budgeted amounts, starting in the 2027-2028 fiscal year.
AIExcludes the new 25% exemption from the annual cost-of-living adjustment mechanism that applies to other homestead exemptions.
AISets the effective date for the new exemption and law enforcement funding prohibition as January 1, 2027.