No. CS/CS/HJR 209
Filed under Education.
Property Insurance Relief Homestead Exemption Non-school Property Tax; Proposes amendment to State Constitution to increase by $200,000 the exemption for homestead property from all ad valorem taxation other than school district levies for homestead properties that have property insurance, to prohibit local governments from reducing total funding for first responders, and to provide an effective date.
Plain English Summary
AI-GENERATEDHomeowners with comprehensive property insurance gain a $200,000 exemption from all local property taxes except school levies. This exemption is adjusted annually for inflation using the Consumer Price Index.
Local governments may not reduce total funding for law enforcement, firefighters, and other first responders below the higher of their 2025-2026 or 2026-2027 budgeted amounts. This applies even if property tax revenue drops due to the new exemption.
The changes take effect on January 1, 2027. The exemption applies only to properties insured by a comprehensive multiperil property insurance policy as defined by general law.
The first responder funding floor is a new constitutional requirement that prevents local budget cuts to emergency services regardless of revenue changes caused by the tax exemption.
AICreates a new $200,000 exemption from non-school property taxes for insured homesteads.
AIRequires annual inflation adjustments to the new exemption amount.
AIProhibits local governments from reducing first responder budgets below the higher of the 2025-2026 or 2026-2027 levels.
AISets the effective date for the new exemption and funding floor as January 1, 2027.