Senate Bill 349, known as the ‘Save our Homes Act,’ is a comprehensive ad valorem taxation bill which includes numerous property tax revisions advocated for on behalf of GMA. SB 349 removes the Taxpayer Bill of Rights advertisement requirement if the millage rate is set at or below the previous year’s millage rate. The bill would also remove the requirement to include the tax estimate on the tax assessment notice. SB 349 would also limit the three year lock on the valuation of property only if the taxpayer receives a lower property valuation on appeal. The bill would require that the current tax assessment notice includes a list of all ad valorem tax exemptions that have been granted and are applicable to the current tax year. SB 349 would prohibit the taxpayer from receiving a temporary reduction in the amount of taxes due if the taxpayer, or his/her representative(s), does not attend a tax appeal settlement conference. Finally, the bill provides for a statewide floating homestead exemption which would restrict assessment increases on homesteaded property to 3 percent annually for all property taxes levied.

SUBSTITUTE

SB 349 is now a substitute bill consisting of the former HB 1031 and HB 1115. The former SB 349 is now a substitute to HB 1185. Please see the legislative tracker for descriptions of HB 1031 and HB 1115.