Florida League of Cities

Tangible Personal Property Tax Exemption (Monitor) – Failed

HJR 7075 (Alvarez) proposes an amendment to the Florida constitution to authorize the Legislature to increase the tangible personal property exemption from $25,000 to $50,000, subject to local ad valorem taxes levied by cities and counties. 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. (Chapman)