Title: Homestead Exemptions for Persons Age 65 and Older

Summary: Increasing the just value limit of real estate eligible for the homestead tax exemption that may be adopted by counties or municipalities for certain persons age 65 and older, etc.

Full Text:
An act relating to homestead exemptions for persons age and older; amending s. 196.075, F.S.; increasing the just value limit of real estate eligible for the homestead tax exemption that may be adopted by counties or municipalities for certain persons age and older; providing a contingent effective date. Be It Enacted by the Legislature of the State of Florida: Section 1. Paragraph (b) of subsection (2) of section 196.075, Florida Statutes, is amended to read: 196.075 Additional homestead exemption for persons and older.  (2) In accordance with s. 6(d), Art. VII of the State Constitution, the board of county commissioners of any county or the governing authority of any municipality may adopt an ordinance to allow either or both of the following additional homestead exemptions: (b) The amount of the assessed value of the property for a person who has the legal or equitable title to real estate with a just value less than $300,000 $250,000,as determined in the first tax year that the owner applies and is eligible for the exemption, and who has maintained thereon the permanent residence of the owner for at least years, who has attained age 65, and whose household income does not exceed the income limitation prescribed in paragraph (a), as calculated in subsection (3). Section 2. This act shall take effect on the effective date of the amendment to the State Constitution proposed by SJR or a similar joint resolution having substantially the same specific intent and purpose, if such amendment to the State Constitution is approved at the next general election or at an earlier special election specifically authorized by law for that purpose.