Summer 2025 FCIAAO Newsletter

LEGISLATIVE 2025 Final Legislative Report

The session ended only two weeks before the beginning of the next state fiscal year. There were a total of 1959 bills filed for consideration, including local bills, memorials, concurrent and joint resolutions, of which 269 were passed by both chambers. There were 27 proposed constitutional amendments and only 2 were passed. In 2024, there were 1902 bills filed of which 325 were passed. MAJOR PROPOSALS that DID NOT PASS HJR 357 - $100,00 exemption for all property, all levies SJR 1016 - Increase the homestead exemption from $50,000 to $75,000 and increase it annually by inflation. The $75,000 exemption would apply to all levies but the inflation indexing would not apply to school levies.

HJR 773/SJR 1092 - Replaces Save Our Homes by assessing homestead property at the most recent purchase price, or, in the case of new construction, the cost of construction. Assessment will not change unless sold or improved. SJR 326/HJR 1025 – Limits the assessed value of the homestead property of low-income seniors to the value of the property when the senior turned 65. SJR 326 would use just value, HJR 1025 would use assessed value. SB 852 - Although SB 852 (study on elimination of property taxes) did not pass, HB7031 – Taxation did. Also referred to as the “Tax Package”, Section 97 (pages 11-13 of Loren’s report) Directs the Office of Economic and Demographic Research (EDR) to conduct a property tax study…and submit a report detailing the study’s findings and options by November 1, 2025. Major legislation affecting the duties and responsibilities of Property Appraisers PASSED during the 2025 session and effective for 2025: § 193.4516 - requires assessment of citrus packinghouse and processor equipment at a market value no greater than salvage upon application and under specified circumstances. § 194.011 - requires simultaneous exchange of VAB evidence between petitioner and property appraiser 15 days prior to VAB hearing. § 194.013 - Increasing the fee that the VAB may charge for the filing of a petition from $15 to $50. There is no change to the existing provisions that allow the VAB to decide whether it wants to change a fee and if so, how much. § 194.014 - revises time period in which a refund of an overpayment of ad valorem taxes accrues interest. § 196.1978(3) - allows property of a multifamily project that received an exemption prior to the adoption or renewal of an ordinance or resolution electing not to exempt certain properties, to continue to receive the exemption in each subsequent consecutive year that the “same owner or each successive owner” applies for and is granted the exemption. § 196.1978(4) - allows multi-family project that contains more than 70 units providing affordable housing to certain eligible persons and subject to a land use restriction agreement with a housing finance authority pursuant to part IV in chapter 159, FS, for 99 years to receive exemption. § 736.151 -clarifies that a transfer of homestead property to a community property trust is not a change of ownership that would result in reassessment of the property.

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STAYING APPRAISED

SUMMER 2025