TITLE
RESOLUTION URGING THE FLORIDA LEGISLATURE TO ENACT SENATE JOINT RESOLUTION (SJR) 122 AND SENATE BILL (SB) 120, OR SIMILAR LEGISLATION THAT WOULD PROPOSE AN AMENDMENT TO THE FLORIDA CONSTITUTION AND AMEND FLORIDA STATUTES, RESPECTIVELY, TO REVISE THE LIMITATION ON ANNUAL INCREASES OF HOMESTEAD PROPERTY TAX ASSESSMENTS FROM 3 PERCENT TO 2 PERCENT

BODY
WHEREAS, in 1992, Florida voters passed the �Save Our Homes� provision of the Florida Constitution, which limits the amount that the assessed value of a homestead property can increase annually to the lesser of 3 percent or the Consumer Price Index (CPI); and
WHEREAS, in 1994, the Legislature implemented the �Save Our Homes� amendment; and
WHEREAS, in 1995, the Governor and the Cabinet adopted an administrative rule related to �Save Our Homes�, popularly known as the �recapture rule�, which requires property appraisers to increase the prior year�s assessed value of a homestead property by the lower of 3 percent or the CPI on all property when the value is lower than the market value; and
WHEREAS, this requirement applies even if the market value of the homestead property has decreased or remained flat from the prior year, provided, however, that the assessed value cannot exceed the market value; and
WHEREAS, the recapture rule results in homestead property owners protected by �Save Our Homes� seeing an increase in the assessed value of their home in years in which the market value of their property has decreased or remained flat; and
WHEREAS, in such years, this increase in assessed value for homestead properties can potentially translate into an increase in property taxes from the prior year; and
WHEREAS, additionally, inflation as measured by the CPI increased sharply in 2022, reaching a peak of 9.1 percent in June; and
WHEREAS, while the annual rate has since declined slightly to 7.1 percent as of November, the CPI is still hovering near its highest levels in 40 years and seems unlikely to fall back below 3 percent anytime in the near future; and
WHEREAS, as a result, homestead property owners�already facing record increased costs due to high inflation�are also facing the maximum 3 percent annual increase in the assessed value of their home over potentially the next several years, even as property values have begun to moderate somewhat after their rapid rise in 2021 and 2022; and
WHEREAS, this increase in assessed value should be viewed against the backdrop of the protection �Save Our Homes� has provided longtime homeowners from the rapid increases in property values when home values were rising quickly; and
WHEREAS, on January 4, 2023, Senate Joint Resolution (SJR) 122 and Senate Bill (SB) 120 were filed for consideration during the 2023 session of the Florida Legislature by Senator Bryan Avila (R � Hialeah Gardens); and
WHEREAS, SJR 122 would propose an amendment to Section 4 of Article VII of the Florida Constitution and the creation of a new section in Article XII of the Florida Constitution that, if approved by the voters, would revise the limitation on annual increases of homestead property tax assessments from 3 percent to 2 percent; and

WHEREAS, if the constitutional amendments proposed by SJR 122 are approved by the voters, SB 120 would implement such amendments by amending section 193.155 of the Florida Statutes to revise the limitation on annual increases of homestead property tax assessments from 3 percent to 2 percent; and
WHEREAS, SJR 122 and SB 120 would provide needed property tax relief, particularly during these high inflationary times, to longtime homestead property owners, a significant number of whom are elderly and on fixed incomes; and
WHEREAS, accordingly, this Board wishes to express its support for SJR 122 and SB 120, or similar legislation,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that this Board:
Section 1. Urges the Florida Legislature to enact SJR 122 and SB 120, or similar legislation that would propose an amendment to the Florida Constitution and amend Florida Statutes, respectively, to revise the limitation on annual increases of homestead property tax assessments from 3 percent to 2 percent.
Section 2. Directs the Clerk of the Board to transmit a certified copy of this resolution to the Governor, Senate President, House Speaker, Senator Bryan Avila, and the Chair and remaining Members of the Miami-Dade State Legislative Delegation.
Section 3. Directs the County�s state lobbyists to advocate for the passage of the legislation set forth in section 1 above, and authorizes and directs the Office of Intergovernmental Affairs to amend the 2023 State Legislative Package to include this item.