Florida 2025 Regular Session Status: In Committee 1 R cosponsors

SB 1512 — Property Tax Exemption and Assessment Limitation on Long-term Leased Property

Last action — Died in Rules

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2025 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

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.

Bill Text

What changed in the latest version

231 added · 200 removed

231 line(s) added, 200 removed.

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Florida Senate - 2025 SB 1512 By Senator Avila 39-01052-25 20251512__ A bill to be entitled An act relating to a property tax exemption and assessment limitation on long-term leased property;
Florida Senate - 2025 CS for SB 1512 By the Committee on Finance and Tax;
and Senator Avila 593-03609-25 20251512c1 A bill to be entitled An act relating to a property tax exemption and assessment limitation on long-term leased property;
Page 1 of 8 CODING:
Page 1 of 9 CODING:
Florida Senate - 2025 SB 1512 39-01052-25 20251512__ 193.1553 Assessment of certain residential property subject to a long-term lease.— (1) Property that receives the exemption under s.
Florida Senate - 2025 CS for SB 1512 593-03609-25 20251512c1 193.1553 Assessment of certain residential property subject to a long-term lease.— (1) Property that receives the exemption under s.
(4) Property assessed under this section shall be assessed at just value as of January 1 of the year following a change of ownership.
(4) Property assessed under this section shall be assessed at just value as of January 1 of the year following a change of ownership, or as of January 1 of the year following abandonment of homestead on a property that becomes eligible for assessment under this section, but no sooner than the January 1 following the certification to the property appraiser required by s.
Thereafter, the annual changes in the assessed value of the property are subject to the limitations in subsections (2) and (3).
193.155(8)(i)2.
For purposes of this subsection, the term “change of ownership” means any sale, foreclosure, or transfer of legal title or beneficial title in equity to any person, except if any Page 2 of 8 CODING:
Thereafter, the annual changes in the assessed Page 2 of 9 CODING:
Florida Senate - 2025 SB 1512 39-01052-25 20251512__ of the provisions of s.
Florida Senate - 2025 CS for SB 1512 593-03609-25 20251512c1 value of the property are subject to the limitations in subsections (2) and (3).
For purposes of this subsection, the term “change of ownership” means any sale, foreclosure, or transfer of legal title or beneficial title in equity to any person, except if any of the provisions of s.
The property’s assessed value must be increased by the just value of that portion of the changed or improved property which is in excess of 110 percent of the square footage of the property before the damage or destruction or of that portion exceeding 1,500 square feet.
The property’s assessed value must be increased by the just value of that portion of the changed or improved property which is in excess of 110 percent of the square footage of the property before the damage or destruction or of that portion Page 3 of 9 CODING:
3.
Property damaged or destroyed by misfortune or calamity which, after being changed or improved, has a square footage of less than 100 percent of the property’s total square footage before the damage or destruction shall be assessed pursuant to Page 3 of 8 CODING:
Florida Senate - 2025 SB 1512 39-01052-25 20251512__ subsection (6).
Florida Senate - 2025 CS for SB 1512 593-03609-25 20251512c1 exceeding 1,500 square feet.
3.
Property damaged or destroyed by misfortune or calamity which, after being changed or improved, has a square footage of less than 100 percent of the property’s total square footage before the damage or destruction shall be assessed pursuant to subsection (6).
When property is assessed under s.
(8)(a) If, after meeting the conditions of subsection (1) and receiving the benefit of the assessment limitation in Page 4 of 9 CODING:
193.461, s.
193.501, or s.
193.505 and contains a residence under the same ownership, the portion of the property consisting of the residence and curtilage must be assessed separately, pursuant to s.
193.011, for the assessment to be subject to the limitation in this section.
(8)(a) If, after meeting the conditions of subsection (1) and receiving the benefit of the assessment limitation in Page 4 of 8 CODING:
Florida Senate - 2025 SB 1512 39-01052-25 20251512__ subsections (2) and (3), the property does not meet the conditions of subsection (1) on January 1 of any year, the property shall instead be assessed pursuant to s.
Florida Senate - 2025 CS for SB 1512 593-03609-25 20251512c1 subsections (2) and (3), the property does not meet the conditions of subsection (1) on January 1 of any subsequent year, the property shall instead be assessed pursuant to s.
193.1554(3) and (4) or s.
193.155(1) and (2) or s.
193.1555(3) and (4), as applicable, beginning with such year.
193.1554(3) and (4), as applicable, beginning with such year.
1.
193.1554 or s.
193.1554 shall use the most recent year’s assessed value under this section as the basis for adjustment, and may not revert to just value, unless such property experiences a change of ownership or control as provided in s.
193.1555 shall use the most recent year’s assessed value under this section as the basis for adjustment, and may not revert to just value unless such property experiences a change of ownership or control as provided in s.
193.1554.
193.1554 or s.
2.
193.1555.
Any change in assessment in the first year the property is assessed pursuant to s.
(b) If the property meets the conditions of subsection (1) in a subsequent year, this section shall apply beginning with such year, and the application of the limitation in subsection (2) shall use the most recent year’s assessed value as the basis for adjustment, even if the property was assessed in that year pursuant to s.
193.155 shall use the just value of the property, as adjusted pursuant to s.
193.1554 or s.
193.155(8), if applicable.
193.1555.
(b)1.
If the property meets the conditions of subsection (1) on January 1 of a subsequent year, this section shall apply beginning with such year, and the application of the limitation in subsection (2) shall use the most recent year’s assessed value as the basis for adjustment if the property was assessed in the most recent year pursuant to s.
193.1554.
2.
If the property meets the conditions of subsection (1) on January 1 of a subsequent year and the property was assessed as the homestead of the owner in the prior year pursuant to s.
193.155, then the application of the limitation in subsection (2) shall use the just value of the property, rather than the prior year’s assessment, for the first year’s assessment limitation in subsection (2).
A property that was abandoned as a homestead is only eligible under this section if the property Page 5 of 9 CODING:
Words stricken are deletions;
words underlined are additions.
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Florida Senate - 2025 CS for SB 1512 593-03609-25 20251512c1 appraiser in the county in which the abandoned homestead property is located provides the certification to the property appraiser in the county in which the new homestead is located as required by s.
193.155(8)(i)2., stating that the property has been or will be reassessed at just value.
In that event, the property appraiser shall contact the applicant, who may Page 5 of 8 CODING:
In that event, the property appraiser shall contact the applicant, who may refile a complete application by April 1.
Words stricken are deletions;
words underlined are additions.
Florida Senate - 2025 SB 1512 39-01052-25 20251512__ refile a complete application by April 1.
Section 196.034, Florida Statutes, is created to read:
Section 196.034, Florida Statutes, is created to Page 6 of 9 CODING:
Words stricken are deletions;
words underlined are additions.
Florida Senate - 2025 CS for SB 1512 593-03609-25 20251512c1 read:
As of January 1 of the taxable year, the property is rented by the owner to one or more persons for residential use under a written lease that has a duration of 6 months or more.
As of January 1 of the taxable year, the property is rented by the owner to one or more persons for residential use under a bona fide written lease that has a duration of 6 months or more.
(b) Every property that qualifies to receive the exemption provided in paragraph (a) is entitled to an additional exemption of up to $25,000 on the assessed valuation greater than $50,000 for all levies other than school district levies.
3.
(c) Any property that does not meet the conditions of paragraph (a) for a given year may not receive the benefits Page 6 of 8 CODING:
The property would otherwise qualify for a homestead exemption under s.
196.031 if the property were the owner’s primary residence.
4.
The property is not eligible for assessment under s.
193.1555.
5.
The property is classified under s.
195.073(1)(a)1., 2., or 4.
(b) A person is entitled to the exemption provided by this section on one separate parcel of real estate.
(c) Every property that qualifies to receive the exemption provided in paragraph (a) is entitled to an additional exemption of up to $25,000 on the assessed valuation greater than $50,000 for all levies other than school district levies.
(d) Any property that does not meet the conditions of paragraph (a) for a given year may not receive the benefits provided in paragraphs (a) and (c) for such year unless Page 7 of 9 CODING:
Florida Senate - 2025 SB 1512 39-01052-25 20251512__ provided in paragraphs (a) and (b) for such year unless subsection (2) applies, but the property may receive the benefits in paragraphs (a) and (b) in any future year for which all conditions in paragraph (a) are met.
Florida Senate - 2025 CS for SB 1512 593-03609-25 20251512c1 subsection (2) applies, but the property may receive the benefits in paragraphs (a) and (c) in any future year for which all conditions in paragraph (a) are met.
193.1554 Assessment of nonhomestead residential property.— (1) As used in this section, the term “nonhomestead residential property” means residential real property that contains nine or fewer dwelling units, including vacant property zoned and platted for residential use, and that does not receive Page 7 of 8 CODING:
193.1554 Assessment of nonhomestead residential property.— (1) As used in this section, the term “nonhomestead residential property” means residential real property that contains nine or fewer dwelling units, including vacant property zoned and platted for residential use, and that does not receive the exemption under s.
Words stricken are deletions;
words underlined are additions.
Florida Senate - 2025 SB 1512 39-01052-25 20251512__ the exemption under s.
Section 5.
Page 8 of 9 CODING:
Words stricken are deletions;
words underlined are additions.
Florida Senate - 2025 CS for SB 1512 593-03609-25 20251512c1 Section 5.
Page 8 of 8 CODING:
Page 9 of 9 CODING:
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Action History

  1. Died in Rules

  2. Indefinitely postponed and withdrawn from consideration

  3. CS by Finance and Tax read 1st time

  4. Now in Rules

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

  6. CS by Finance and Tax; YEAS 5 NAYS 0

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

  8. Now in Finance and Tax

  9. Favorable by Community Affairs; YEAS 7 NAYS 1

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

  11. Introduced

  12. Referred to Community Affairs; Finance and Tax; Rules

  13. Filed

Sponsors

  • Finance and Tax · Primary
  • Vacant · Primary

Sponsorship breakdown

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2 sponsors · 0 co-sponsors · 162 not signed on · 1 voted No

Sponsors (2)

  • Finance and Tax
  • Vacant Republican

Co-sponsors (0)

None.

Not signed on (162)

162 members have not signed on to this bill.

Show all 162 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Favorable

Passed 7 Yea · 1 Nay
Party YeaNayPresentNot Voting
Democrat 2000
Republican 4000
Unaffiliated 1000
No Party Affiliation 0100
Total 7100
% of votes cast 88%13%0%0%
How each member voted (8)
Member Party Vote
Fine — Yea
Jones, Shevrin D. "Shev" Democrat Yea
Sharief, Barbara Democrat Yea
Pizzo, Jason W. B. No Party Affiliation Nay
Leek, Thomas J. "Tom" Republican Yea
McClain, Stan Republican Yea
Passidomo, Kathleen Republican Yea
Trumbull, Jay Republican Yea

Official roll call →

Subjects

taxation housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 1512 do?
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.
Who sponsors SB 1512?
SB 1512 is sponsored by Finance and Tax and Vacant (Republican).
What is the current status of SB 1512?
This bill died with 2025 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 1512?
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