Assessment of Property with Decreasing Just Valuation

HJR 1411 proposes a constitutional amendment to prevent property tax increases when a property's actual market value (just valuation) decreases. It directly affects homeowners and property owners whose market value drops year-over-year, prohibiting tax assessors from raising their property tax assessments in such cases. The key mechanism requires that assessments "may not increase if the just value for the property is less than the just value of the property on the preceding January 1." This amendment would apply to all property subject to ad valorem taxation under Florida's current assessment rules, with no changes to existing homestead exemptions or other valuation methods. The bill is currently in committee referral and requires voter approval after legislative passage.