Revenue and taxation; ad valorem; homestead exemption; increase; effective date.

Summary

The bill raises the amount of the $1,000 homestead ad valorem tax exemption for owners whose household income is at most three times the state median. The increase applies for the 2028, 2029 and 2030 tax years and is calculated from the prior year’s exemption, any rise in the home’s fair cash value, and 20% of the current fair cash value. Homeowners with higher incomes keep the same exemption amount as the previous year.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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