THE BILL ITSELF
HB 6027
Homestead Assessment Limitation Transfer
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A bill to be entitled
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An act relating to homestead assessment limitation
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transfer; amending s. 193.155, F.S.; conforming
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provisions to align with the State Constitution;
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providing an effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Paragraphs (a) and (b) of subsection (8) of
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section 193.155, Florida Statutes, are amended to read:
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193.155 Homestead assessments.—Homestead property shall be
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assessed at just value as of January 1, 1994. Property receiving
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the homestead exemption after January 1, 1994, shall be assessed
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at just value as of January 1 of the year in which the property
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receives the exemption unless the provisions of subsection (8)
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apply.
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(8) Property assessed under this section shall be assessed
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at less than just value when the person who establishes a new
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homestead has received a homestead exemption as of January 1 of
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any of the 3 immediately preceding years. For purposes of this
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subsection, a husband and wife who owned and both permanently
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resided on a previous homestead shall each be considered to have
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received the homestead exemption even though only the husband or
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the wife applied for the homestead exemption on the previous
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homestead. The assessed value of the newly established homestead
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shall be determined as provided in this subsection.
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(a) If the just value of the new homestead as of January 1
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is greater than or equal to the just value of the immediate
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prior homestead as of January 1 of the year in which the
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immediate prior homestead was abandoned, the assessed value of
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the new homestead shall be the just value of the new homestead
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minus an amount equal to the lesser of $500,000 or the
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difference between the just value and the assessed value of the
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immediate prior homestead as of January 1 of the year in which
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the prior homestead was abandoned. Thereafter, the homestead
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shall be assessed as provided in this section.
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(b) If the just value of the new homestead as of January 1
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is less than the just value of the immediate prior homestead as
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of January 1 of the year in which the immediate prior homestead
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was abandoned, the assessed value of the new homestead shall be
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equal to the just value of the new homestead divided by the just
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value of the immediate prior homestead and multiplied by the
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assessed value of the immediate prior homestead. However, if the
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difference between the just value of the new homestead and the
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assessed value of the new homestead calculated pursuant to this
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paragraph is greater than $500,000, the assessed value of the
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new homestead shall be increased so that the difference between
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the just value and the assessed value equals $500,000.
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Thereafter, the homestead shall be assessed as provided in this
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section.
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Section 2. This act shall take effect July 1, 2026.