Florida Homestead Exemptions for your Primary Residence
Florida has affordable housing, beautiful beaches and historical landmarks but it also has Homestead Exemptions allowing buyers to save money on their property taxes. Number one Top Priority is that your property must be your legal domicile, if you own a vacation home in Florida and have now decided you’re going to make that your principal residence, we not only welcome you, we also encourage you to claim your homestead exemption.
Who is Eligible?
Anyone who owns and resides in a home in Florida on January 1st is eligible for the homestead exemption up to $50,000. The first $25,000 applies to all property taxes, including school district taxes. The additional exemption up to $25,000, applies to the assessed value (not the purchase price) between $50,000 and $75,000 and only to non-school taxes. Assessed Value is the dollar value assigned by a tax assessor for the purposes of taxation. Be advised that if you’re buying a home in Florida your assessment may be more or less than the previous seller due to fluctuations in the Real Estate Market.
March 1st is the deadline to apply for this year’s Homestead Exemption; you only have to apply once, it’s good as long as you live in your Homesteaded property. If you have a change in ownership or status you must notify your county property appraiser, there are strict penalties for those who commit homestead fraud.
An additional $500 exemption is available for Widow/Widowers, Disability and Blind Persons. A disabled ex-service member may be eligible for an additional $5000 exemption.
Note: more exemptions exist and exemptions can be combined, for more information and to apply for Homestead Exemptions, contact your County Property Appraiser.
Property appraisers in Florida listed by counties can be found at: