(The Center Square) — Lawmakers in the Florida Legislature are considering adding initiatives to the ballot that could help homeowners reduce their property taxes and help defray personal property taxes on agricultural equipment.
Both bills would allow voters to decide whether lawmakers can provide two $25,000 ad valorem tax exemptions and limit the increase in annual assessments to the lesser of 3% of the assessment for the prior year or the percent change in the consumer price index.
This would apply to property under a residential lease of at least six months, is owned by a person with another homestead in the state and could qualify as a homestead property if it is a primary residence.
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HJR1257 passed the House 80-28 on Friday. SJR1510 is now
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