Filing your Florida Homestead Tax Exemption

In the State of Florida, the major taxes collected include sales and use tax, intangible tax and coroporate taxes. But one of the few that is important to any property owner is the Property Tax. The local governments in your city receive your funding through these funded taxes. These tax rates are put together at your individual property level and can vary as well depending on the county that your property is located in. With Property Taxes, there are exemptions but depending on the circumstances.  

A Homestead Tax Exemption exempts a certain amount of money or a percentage from your home value through property taxes. These are only qualified to those that are living in the home. This can save you hundreds of dollars in property taxes for those permanent Florida residents. If you do qualify, you can reduce the assessed value of your homestead up to $50,000. The Catch? There is a standard $25,000 exemption plus an additional exemption which can be up to an additional $25,000. 

In order to apply, you must have all documentation gathered and a complete application that you bring to your county’s appraiser’s office.  Senior Citizens and Veterans may qualify for other exempts.  

Here are the Steps for Applying for a Homestead Exemption in Florida 

Live in the Home for a year. You can only take a homestead exemption for a year if you lived in the house as of January 1st.  

Check if the home is your permanent residence. You can only get the exemption if your home is your permanent residence. There are no set number of days you must be in Florida. However, the following factors show permanent residence.  

-If you file income tax returns, you file them as a Florida resident.  

-If you vote, you vote in Florida.  

-If you drive, you have a Florida driver’s license. 

-If you claim another residency-based exemption in another state, then you aren’t a Florida resident and you can’t claim the homestead exemption in Florida. 

Identify if your Home Qualifies. You can receive a homestead exemption if you have legal or beneficial title in the property and it is your permanent residence.  

Calculate your Exemption.  Every home receives a $25,000 exemption. However, you might 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 your other taxes.  

Gather the Required Documents. You need to show your appraiser a Florida Driver’s License or a Florida ID card, Florida Vehicle Registration, Florida Voter Information Card or Declaration of Domicile, Social Security Card, Certification of Registration or Title and your Copy of your Deed, Tax Bill or Notice of Proposed Taxes.  

Fill out the Documents and Submit on Time. You must submit your application by March 1st of the current tax year.