Florida Homestead Exemption
When you make property your permanent residence, you may be eligible to receive an exemption that keeps you from paying tax on a certain portion of your property’s assessed value. If your home is worth at least $75,000, the exemption would decrease the property’s taxable value by $50,000!.
The homestead exemption qualifies the home for the Save Our Homes assessment limitation. This “cap” limits any increase to the assessed value of a homestead exempt property to a maximum of 3% or the annual change in the Consumer Price
Index, whichever is less, per year. If eligible, this assessment limitation is now transferable to a new homestead in Florida if you move..
Index, whichever is less, per year. If eligible, this assessment limitation is now transferable to a new homestead in Florida if you move..
You may qualify for additional homestead exemptions, so be sure to check with your Attorney or Estate Planning Professional.
*TIP: Always check with the county property
appraiser’s office to confirm the necessary
documentation required to file.
*TIP: Always check with the county property
appraiser’s office to confirm the necessary
documentation required to file.
Fuente de la imagen: Coronel David Law Firm in Google