Non-homstead commercial and residential properties have 10% limit on assessment increases

Ten Percent Annual Assessment Limitation for Non-Homestead Property

All non-homestead property assessments may increase no more than the 10% of the just value of the property in the prior year. The cap on annual assessment increases is automatic if the ownership did not change in the previous calendar year. If ownership changed in the previous year, the property is assessed at just value, and a new 10% assessment increase limitation begins in the next calendar year. If a non-homestead property is sold and a deed is not recorded, the new owner must file a Change of Ownership or Control notification with the property appraiser within 60 days of the change.

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