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Florida has fairly lax homestead exemption laws. In addition to the homestead exemption, property owners might be eligible for additional tax breaks, including the Save Our Homes assessment limitation. Veterans, seniors, disabled first responders and active duty service members all have additional tax breaks. Additionally, properties with special uses might also qualify for tax breaks. To apply for the homestead exemption, you must submit the appropriate documents to the property appraiser for your county.
The Homestead Exemption
In order to get the homestead exemption, the home must be your primary residence. The homestead exemption could reduce your property’s taxable value by up to $50,000. The homestead exemption also goes toward your eligibility for the Save Our Homes limitation. The homestead exemption is not transferable.
For the homestead exemption, you must provide several pieces of information. If you have never applied for the exemption before, you should have the following information ready:
The names of all the people on the title;
Social security number for you and your spouse;
Who was living in the dwelling on January 1 of the year you are applying;
Whether you are a Florida resident or is your residency in another state;
Proof of Florida residency;
Your driver’s license or Florida identification number;
Your license plate number;
Your voter registration number, if you are registered to vote in Florida, and if you are a United State Citizen;
Domicile and residency date;
You current employer;
The address you used on your last tax return for the Internal Revenue Service;
Where your children go to school;
A copy of a bank statement and the mailing address for your checking account; and
A utility bill in your name at the address you are trying to get the homestead exemption for.
Complete Homestead Exemption
If you are a surviving spouse of a first responder, you might receive a 100 percent exemption – you would not have to pay any taxes on your primary residence. Service members who were honorably discharged and have a total and permanent service-connected disability are also exempt from paying taxes on their primary home. If the veteran dies, his or her spouse is entitled to keep the 100 percent deduction until he or she remarries or sells the house.
Additionally, if a service member dies as a result of an event or condition related to the service, his or her spouse may be entitled to the 100 percent deduction.
Save Our Home Limitation
Once you have received the homestead exemption for a year, your primary property is eligible for the Save Our Home Limitation, which caps assessment increases to 3 percent or the percentage change in the Consumer Price Index. The property assessor must use the lowest of the two amounts.
Because real estate taxes are so high in most counties, it is beneficial to take advantage of any tax savings you can, even if getting all of the documentation is a hassle.
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Eileen Cline
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