SESSION WATCH
Died SENATE · SESSION 2026

No. SJR 550

Prohibition on Levying Ad Valorem Taxes on Tangible Personal Property
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SPONSOR
Bernard
FILED BY
Mack Bernard — District 24, Democrat [search donations]
DIED IN
Finance and Tax
OFFICIAL RECORD
flsenate.gov/Session/Bill/2026/550

Filed under Taxes & Budget.

PROVIDED SUMMARY

Prohibition on Levying Ad Valorem Taxes on Tangible Personal Property; Proposing amendments to the State Constitution to prohibit levying ad valorem taxes on tangible personal property by counties, school districts, and municipalities and to provide an effective date, etc.

Full bill text →

Plain English Summary

AI-GENERATED
Bans local ad valorem taxes on tangible personal property.

Counties, school districts, and municipalities can no longer levy ad valorem taxes on tangible personal property, effective January 1, 2027.

The bill removes the constitutional authority for local governments to tax business equipment, inventory, and other movable assets.

It also repeals specific constitutional exemptions for tangible personal property, as the underlying tax is now prohibited.

The change shifts the tax burden away from movable assets, leaving real property as the primary local tax base.

KEY PROVISIONS
§ 1 Prohibition on Tangible Personal Property Taxes majors. Article VII, Section 9(a)

AIProhibits counties, school districts, and municipalities from levying ad valorem taxes on tangible personal property.

“except ad valorem taxes on intangible personal property and tangible personal property and taxes prohibited by this constitution.” bill text, line 274 →
§ 2 Removal of Tangible Personal Property from Millage Limits moderates. Article VII, Section 9(b)

AIRemoves tangible personal property from the base used to calculate maximum tax millage rates.

“upon the assessed value of real estate and tangible personal property” bill text, line 281 →
§ 3 Removal of Tangible Personal Property Exemptions moderates. Article VII, Section 3(c)

AIRemoves constitutional provisions allowing exemptions for household goods, business property, and solar devices.

“(e) By general law and subject to conditions specified therein: (1) Twenty-five thousand dollars of the assessed value of property subject to tangible personal property tax” bill text, line 67 →
§ 4 Removal of Tangible Personal Property Valuation Authority moderates. Article VII, Section 4(c)

AIRemoves the constitutional authority for general law to classify or exempt tangible personal property held for sale.

“(c) Pursuant to general law tangible personal property held for sale as stock in trade and livestock may be valued for taxation” bill text, line 108 →
§ 5 Effective Date moderates. Article XII, Schedule

AISets the effective date for the prohibition on levying ad valorem taxes on tangible personal property.

“shall take effect January 1, 2027.” bill text, line 301 →
TIMELINE
3/13/2026
Died in Finance and Tax
1/13/2026
Introduced
12/9/2025
Referred to Finance and Tax; Appropriations; Rules
11/18/2025
Filed