Homestead Assessment Limitation Transfer

HB 6027 amends Florida's homestead assessment rules to clarify how property tax assessments transfer when homeowners move to a new primary residence. It directly affects homeowners who establish a new homestead after January 1, 1994, by adjusting their new property's tax assessment based on their previous homestead's value. The key change sets a $500,000 cap on the difference between the new home's value and the assessed value of the prior homestead, using specific calculation methods depending on whether the new home is more or less valuable. This bill updates existing statute language to align with the Florida Constitution, effective July 1, 2026.