The Tampa and Miami areas had among the nation’s largest increases in home prices in January when compared to a year earlier, according to a report released Tuesday.

Florida Senate Republican Seeks To Expand ‘Save Our Homes’ Break

A Senate Republican on Wednesday filed a proposal that could give homeowners more savings under Florida’s “Save Our Homes” property-tax cap.
TFP File Photo

A Senate Republican on Wednesday filed a proposal that could give homeowners more savings under Florida’s “Save Our Homes” property-tax cap.

Sen. Bryan Avila, R-Miami Springs, proposed a measure (SJR 122) for consideration during this year’s legislative session, which will start March 7.

Florida voters in 1992 approved the Save Our Homes constitutional amendment, which caps annual increases in assessed property values at 3 percent or the change in the Consumer Price Index, whichever is lower.

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Avila’s proposal would cap annual increases in assessed values at 2 percent or the change in the Consumer Price Index.

If Avila’s proposal is approved by the Legislature, it would require passage by voters during the 2024 election. That is because it would be a constitutional amendment.

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