If you own a home in Florida, you may be familiar with the Homestead Exemption. This valuable property tax exemption allows you to save money on your annual property tax bill by reducing the taxable value of your home. In this blog, we will explore what the Homestead Exemption is, who is eligible, and how to apply for it.

What is the Florida Homestead Exemption?

The Florida Homestead Exemption is a legal provision in the state’s Constitution that offers homeowners significant property tax savings. Under the exemption, the taxable value of a homeowner’s primary residence is reduced by up to $50,000. The first $25,000 of this reduction applies to all property taxes, including school district taxes. The second $25,000 applies only to non-school taxes, like those levied by cities, counties, and special districts. This can result in significant savings for homeowners who use their primary residence as their primary domicile.

Who is Eligible

To qualify for the Homestead Exemption, you must meet certain requirements. First and foremost, you must own and occupy your primary residence as your permanent domicile. You must also have owned the property on January 1st of the current tax year, and you must file for the exemption by March 1st of that same year. Additionally, if you are married, both spouses must be Florida residents, and both names must appear on the property deed.

If you are applying for the Homestead Exemption on a newly purchased property, you must provide proof of residency as of January 1st. This can include a Florida driver’s license, vehicle registration, voter registration, or a declaration of domicile. If you are a non-US citizen, you may still qualify for the exemption if you have a valid visa and meet the other requirements.

How to Apply for Florida Homestead Exemption

To apply for the Homestead Exemption, you must fill out an application form and provide supporting documentation to your county property appraiser’s office. You can find the application form on your county’s property appraiser website or by contacting their office directly. All property owners must sign the application. The application must be submitted by March 1st of the tax year for which you are applying.

The supporting documentation required may vary depending on your county but generally includes proof of residency and ownership. This can include a copy of your deed, a Florida driver’s license, and a voter registration card. If you are a new homeowner, you may need to provide a settlement statement or other closing documents.

Once approved, you will receive a Notice of Exemption from your county property appraiser. This will indicate the amount of your exemption and the new taxable value of your property. You should keep a copy of this notice for your records and to ensure that you receive the correct tax bill.

Local Websites to Apply At

• For Hillsborough County
  • https://www.hcpafl.org/
• For Manatee County
  • https://www.manateepao.com/
• For Sarasota County
  • https://www.sc-pa.com/
• For Pinellas County
  • https://www.pcpao.org/

Benefits

The Homestead Exemption provides several benefits to homeowners. First and foremost, it can significantly reduce your annual property tax bill, potentially saving you thousands of dollars per year. This can be especially beneficial for those on fixed incomes or with limited financial resources.

The Homestead Exemption also provides some protection from creditors. Florida law protects your primary residence from forced sale to satisfy most types of debt, providing some protection from creditors. This means if you are sued or facing financial difficulties, Florida law may protect your home from seizure or forced sale.

Finally, the Homestead Exemption can also provide some peace of mind. Knowing your home is protected from excessive property taxes and creditors can help you feel more secure in your primary residence.

In conclusion, the Florida Homestead Exemption is an important legal provision that can provide significant property tax savings to homeowners.