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SB 342 — Rental of Homestead Property

by Senator Thrasher

This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.

Prepared by: Community Affairs Committee (CA)

The rental of all or substantially all of a dwelling previously claimed to be a homestead for tax purposes constitutes the abandonment of the dwelling as a homestead. If the homestead is terminated, any Save Our Homes assessment limitation is forfeited and the property is assessed at just value. 

The underlying rationale for the termination of homestead due to a rental is that the owner’s rental activity signifies the owner’s intent to reside elsewhere. There are occasions though when a property owner does not intend to abandon their residence through rental. Examples of these types of short-term rentals include those associated with annual sporting events, arts festivals, college graduations, or business-related symposiums and conventions. 

SB 342 amends s. 196.061, F.S., to allow the rental of homestead property for up to 30 days per calendar year without the property being considered abandoned or affecting the homestead status of the property.

If approved by the Governor, these provisions take effect July 1, 2013.

Vote: Senate 38-0; House 117-0