No. HB 215
Filed under Taxes & Budget.
Ad Valorem Taxation; Revises Save-Our-Homes portability benefits available to married persons establishing joint homestead; prohibits increase in prior year’s adopted millage rate from going into effect unless approved by specified vote; authorizes DOR to adopt emergency rules; provides for future expiration.
Plain English Summary
AI-GENERATEDMarried couples who each held separate homestead exemptions before marrying can now combine their prior-year assessed value reductions on a new home, up to a $500,000 total cap. This expands the existing portability benefit, which previously limited the reduction to the higher of the two prior values.
Local governments can no longer raise the prior year's adopted millage rate without a two-thirds vote of the governing body. This new supermajority requirement applies to counties, municipalities, and independent districts, making it significantly harder to increase property tax rates.
The Department of Revenue is authorized to adopt emergency rules to implement these changes. These rules take effect immediately and remain in force for six months, renewable while permanent rulemaking is pending, allowing for rapid administrative implementation before the 2027 tax roll.
AIAllows married couples to combine the assessed value reductions from both spouses' previous homes, up to a $500,000 total cap.
AIRequires a two-thirds vote of the governing body to increase the prior year's adopted millage rate.
AIAuthorizes the Department of Revenue to adopt emergency rules to implement the new tax provisions, effective for six months.
AISets the implementation date for the tax changes to the 2027 tax roll and expires the emergency rule authority in 2028.