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Monday, March 03, 2008

Guidelines for Florida's Homestead Exemption-$25,000, Property Taxes

Did you know that you qualify for $25,000 exemption on your Florida real estate property taxes if you own your primary residence and it is in Florida? To receive Florida’s Homestead redemption you must mail in your application no later than March 1st of the year in which you wish to start receiving the exemption.

Every U.S. citizen or legal resident that has legal or equitable title to real property in the State of Florida and who resides thereon and in good faith makes it their permanent home as of January 1st, is entitled to this exemption.

Applicants should have available evidence of ownership such as warranty deed or a tax bill in your name and are also required to furnish their social security number. If property is held jointly by husband and wife, either party may come in to apply for exemption. If filing an application for exemption, be prepared to provide two proofs of Florida residency dated prior to January 1st from the following list

Requirements to receive your exemption:

  • Apply before the March 1st deadline
  • Own the Florida real estate property as of January 1st
  • Reside at the property as of January 1st
  • Have permanent resident status in Florida as of January 1st
  • Must have U.S. citizen or permanent resident status as of January 1st

For more information and filing forms, visit the Property Appraiser's
If you own a car:  

  • Florida Driver's License
  • Florida automobile registration (License tag number) in your name  

If you do not own a car: (any two of the following)

  • Florida Voters registration
  • Florida Intangible Tax Return
  • Children School Records and/or a moving van receipt
  • Letter of recommendation from your doctor, or employer

Important Information
(http://www.miamidade.gov/pa/exempt_homestead.asp)
When to file:  Applications for all exemptions may be made anytime up to March 1 of the tax year.  The Homestead Exemption will be automatically renewed annually until the property is sold or until the property is no longer the primary residence. If you purchase a residence after January 1st, you typically inherit the previous owner's homestead exemption if they were entitled to it. You will be required to file a new application for homestead exemption in the subsequent year. Your homestead exemption does not transfer from your previous property to your new property. Failure to apply by March 1 of the tax year constitutes a waiver of the exemption privilege for that year.  The Property Appraiser has the option of accepting applications after March 1, but they will be held for use the following year.
Where to file:  You may apply for your Exemption(s) by mail, for information and where to file in person check the "Homestead Exemptions" box on the right side of this page.

Property Owner's Responsibility:  Florida Law prescribes that it is the duty of the owner of any property to notify the Property Appraiser promptly, whenever the use of the property or the status or condition of the owner changes, so as to change the exempt status of the property. If any owner fails to so notify the Property Appraiser and the Property Appraiser determines that for any year within the prior ten years the owner was not entitled to receive such exemption, the property shall be subject to the taxes exempted as a result of such failure, plus 15 percent interest per annum, and a penalty of 50 percent of the taxes exempted.  Reference Sec.196.131 and 196.161, F.

Contributed by MLR Realty


   

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