Assessment of Homestead Property

HB 69 proposes to reduce the maximum annual increase in assessed value for Florida homestead properties from 3% to 1.5% of the prior year's value. This change would directly affect homeowners who qualify for the homestead exemption by limiting how much their property taxes could rise each year. The bill amends Section 193.155 of Florida Statutes to establish this lower cap, replacing the current 3% limit with a 1.5% threshold. The bill's effective date depends on voter approval of a related constitutional amendment regarding property taxes. (Note: The bill was withdrawn before introduction on October 31, 2025.)