Florida Homestead Tax Exemption

Homestead can reduce your taxable value on your home as much as $50,000, saving you approximately $750 annually.

Additionally, your assessed value, which is used to calculate your property taxes, cannot increase more than 3% a year after you are granted the exemption.

Requirements to Qualify

1. You must live in the home for 1 year.

You can only file a homestead exemption for the year if you live in the home as of January 1st.

• Example: if you move to Florida on January 10, 2018 You cannot claim a homestead exemption for 2018. But, you can claim it for 2019.

• In order to receive this benefit, you must apply before March 1. Not applying by March 1 constitutes a waiver of the exemption for that year and you must apply for the next year instead

2. The home is a primary residence.

There is no set number of days you must be in Florida.

However, the following factors show you home is a "permanent residence":

• You fine tax returns as a Florida resident

• You are a registered voter in Florida

• You have a Florida driver's license

If you claim another residency-based exemption in another state, you can’t claim the exemption in Florida.

3 Identify if your home qualifies.

Your home qualifies if you have legal or beneficial title in the property and it is your permanent residence. Beneficial title: if the property is owned by a trust but you can use the property.

The home will not qualify if you own the property as a corporation.

If you rent part of the property, the benefit applies only to the portion that is owner-occupied.

Florida homestead protection only protects a homestead if it meets certain acreage requirements. The amount of acreage that will be protected by Florida homestead exemption depends on whether the homestead is located within a municipality.

If the residence is located within a municipality, only one-half an acre can be protected by the Florida homestead exemption; if the residence is located outside a municipality, up to 160 acres can be protected.

4 Non-Citizen Qualification

Typically, only U.S. citizens and permanent residents can claim Florida’s homestead exemption.

Non-citizens can claim the exemption if they have a Permanent Residence Card (green card)

5 Don’t disqualify yourself

For example, don’t do the following:

• Avoid renting your home for more than 30 days each year, for two consecutive years

• Don’t get a driver’s license in any other state

• Don’t forget to register your vehicle in Florida

• Avoid registering to vote anywhere else

Talk with your county’s property appraiser for more information.

Calculate your exemption.

Every home receives a $25,000 exemption.

You may also receive up to an additional $25,000 depending on how much your home is worth. This additional exemption won’t lower your school taxes, but it will lower other taxes.

• The first $25,000 in property value is exempt from all property taxes, including school district taxes.

• The additional $25,000 exemption is only available for exemption from non-school taxes and applies only to the assessed value between $50,000 and $75,000.

COMPLETING THE APPLICATION

Gather required documents - If you own the property with your spouse, then both of you need to submit

• Florida driver’s license

• Florida vehicle registration

• Florida voter information card

• If you aren’t a citizen, you should bring your permanent resident card (green card) and your declaration of domicile recorded with the Clerk of the Court.

• Social Security card or a document (such as an income tax return) that has your number on it.

• Copy of your deed, tax bill, or Notice of Proposed Property Taxes.

• Copy of your trust document if the property is held in trust.

• Certificate of registration or title if the property is a mobile home.

• A Leave and Earnings Statement (LES) for active military personnel showing that Florida is their state of legal residence.

Complete an application. Download the application from the county website or stop in and pick up a paper copy.

You must provide the following information on the application:

• name and mailing address

• previous address

• whether you received tax exemptions for the property

• whether you or your spouse received or claimed tax benefits in another county, state, or country

• proof of residence for all owners

• other information about the property

• signatures and date

Submit on time! You must submit your application by March 1st of the current tax year.

Example: if you want to claim the exemption for 2018, you must file by March 1, 2019.

Submit another application if you move. The homestead exemption is not transferable!! You’ll need to complete a new application when you move.

Variations

Homestead exemption amounts are not necessarily the same!

Depending on state law, the exemption can depend not only on the property’s assessed value, but on a number of other factors.

In some states, senior homeowners are eligible for homestead exemptions, but younger homeowners are not eligible for the same exemptions. Homeowners of any age with disabilities may also receive a homestead exemption.

For more information consult your local proprty appraiser’s office.

Orange: https://www.ocpafl.org/exemptions/hx_file.aspx

Osceola: https://ira.property-appraiser.org/homestead/WebForm1.aspx

Sources: Florida Department of Revenue, DeedClaim.com, Orange County Property Appraiser's Office