Florida League of Cities

Tangible Personal Property Tax Exemption (Monitor)

HJR 7075 (Alvarez) proposes an amendment to the Florida constitution to authorize the Legislature to increase the tangible personal property exemption from $25,000 to $50,000, subject to local ad valorem taxes levied by cities and counties. The constitutional amendment must be approved by at least 60% of electors at the November 2024 general election and will take effect on January 1, 2025. (Chapman)