If you’re a new Florida resident, you might not know about homestead exemptions. Today I’ll go over how they can save you money and how easy it is to obtain one.
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One of the few things that can save Florida residents money are homestead exemptions. Just in case you haven’t heard of them, I wanted to go over what they are and how they can save you money.
All Florida residents who own a home are eligible for a homestead exemption if they qualify, and to be a qualifying resident, the home you own has to be your primary residence.
A homestead exemption basically takes $50,000 and subtracts it from what your home is currently assessed at. So, say your home is assessed at $400,000 by the property appraiser. Instead of being taxed at $400,000, it would be taxed at $350,000 and your taxes would go down.
When you work out the numbers, you could save anywhere from $600 to possibly $1,100 a month depending on your county and tax rate.
If you bought a house in 2016, you have until March 1st to apply for a homestead exemption.
If you bought a house in 2016, you have until March 1st of this year to apply for a homestead exemption, and if you buy a house this year, you have until March 1st of next year to apply.
So how do you apply for a homestead exemption?
All you need to do is go to the property appraiser for your county, who will give you a few things to send in that prove the home is your primary residence. Once you’ve done that, you can fill out everything you need to online.
If you have any other questions, please don’t hesitate to give me a call or send me an email. I’m happy to help!
