SB 1512 Florida Senate · 2025 Regular Session

Property Tax Exemption and Assessment Limitation on Long-term Leased Property

Summary

Property Tax Exemption and Assessment Limitation on Long-term Leased Property; Providing that property that receives a certain tax exemption shall be assessed in a specified manner; providing that changes, additions, and improvements to such properties shall be assessed in a specified manner; requiring the submission of an application containing specified information before receiving a specified tax exemption; providing specified tax exemptions for property that meets certain eligibility requirements, etc.

Issues: ✓ Budget & Taxes

Bill status died 1 of 4 stages cleared

Introduction

Mar 2025

Committee Review

Floor Vote

Governor

Introduced Mar 10, 2025 Last action Jun 16, 2025

Maddy AI version diff · 1 comparison

What changed between versions

S 1512 Filed → S 1512 c1 · 6 edits

MODERATE

This bill creates a new property tax exemption for Florida homeowners who rent out their primary residence under a long-term lease (6+ months), providing up to $25,000 in tax relief. It establishes specific assessment rules to limit annual property tax increases to 3% or the Consumer Price Index, whichever is lower, and adds protections for properties damaged by disasters. The bill also requires annual applications with specific documentation including social security numbers and lease copies.

Scope change

Expands property tax relief to include long-term leased properties that would otherwise qualify for homestead exemptions, creating a new category of eligible property under s. 196.034.

ELIGIBILITY

Creates new s. 193.1553 establishing assessment limitations for long-term leased residential property, capping annual assessment increases at 3% or CPI

Creates new s. 196.034 providing up to $25,000 property tax exemption for owners who rent their primary residence under a 6+ month lease

REQUIREMENT

Requires annual applications by March 1 with social security numbers and executed lease copies for the long-term lease exemption

TIMELINE

Adds special assessment rules for damaged or destroyed properties, allowing continued exemption if repairs begin within 5 years

DEFINITION

Defines 'change of ownership' to include foreclosure and transfer of beneficial title in equity

ENFORCEMENT

Establishes certification requirements for abandoned homesteads transitioning to long-term lease status

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 17, 2025

Upper · Passed

Pending reference review under Rule 4.7(2) - (Committee Substitute)

upper

Apr 10, 2025

Upper · Passed

On Committee agenda-- Finance and Tax, 04/15/25, 12:30 pm, 301 Senate Building

upper

Mar 25, 2025

Upper · Passed

Favorable by Community Affairs; YEAS 7 NAYS 1

upper

Mar 20, 2025

Upper · Passed

On Committee agenda-- Community Affairs, 03/25/25, 11:00 am, 37 Senate Building

upper

Mar 10, 2025

Introduced

upper

Mar 6, 2025

Committee

Referred to Community Affairs; Finance and Tax; Rules

upper

1 primary · 0 co-sponsors