In 2008, a majority of Florida’s voter passed Amendment 1. One of the provisions of the legislation limits the assessment increases for non-homestead real property to 10 percent each year.
Property will be assessed at just value following a change of ownership or control. New construction will also be assessed at just value. Unlike the Amendment 10 cap for homestead properties that applies to all millage levies, the new 10% limitation does not apply to school district taxes.
Florida Statutes 193.1554, 193.1555 and 193.1556 were enacted to implement this portion of the legislation. This limitation is repealed effective January 1, 2019, unless renewed by a vote of the electors in the general election held in 2018.
For most property owners, no action must be taken in order for the limitation to be implemented. However, for properties whose transfers or change of ownership and control are not recorded in the public records, there are new filing requirements.