Florida League of Cities

Annual Inflation Adjustment to Homestead Exemption (Oppose) – Passed

CS/HJR 7017 (Buchanan) proposes an amendment to the constitution to authorize the Legislature to require an annual adjustment to the value of certain homestead exemptions. The constitutional amendment must be approved by at least 60% of electors at the November 2024 general election and will take effect on January 1, 2025. CS/HB HJR 7017 was amended to clarify that the annual inflation adjustment to the $25,000 exemption on assessed value for all levies, other than school district levies, and any future similar exemptions added to the constitution must be adjusted only when the inflation growth is positive. CS/HJR 7017 passed the House (86-29) and the Senate (25-15) and is headed to the Secretary of State’s Office to be prepared for the November ballot. (Chapman)