Quote:
Originally Posted by bshuler
I have been told the first thing to do after closing is head to the courthouse and file that Florida Homestead Exemption.
It will remove $50,000 of the taxable amount of your property. For example, if your property's taxable value is $300,000, you would only be taxed on $250,000. I haven't done this.. so correct me if this wrong.
When someone owns property and makes it his or her permanent residence or the permanent residence of his or her dependent, the property owner may be eligible to receive a homestead exemption that would decrease the property’s taxable value by as much as $50,000.
Also .. The BIG one.. The Homestead exemption includes the SOH Assessment Limitation. This limits the amount of tax increase your property can be assessed for a few years. The PDF document for this is here.
After the first year a home receives a homestead exemption and the property appraiser assesses it at just value, the assessment for each following year cannot increase more than 3 percent or the percent change in the Consumer Price Index (CPI), whichever is less. |
You are referring to the “screw the part time resident exemption”. The county is going to raise the money they need regardless, so guess who makes up the difference. All else being equal, why should the taxes on a homeowner be different depending on how much time they spend at the home? A reasonable argument could be made that part time residents should pay less taxes because they tend to use less county funded services!