Quote:
Originally Posted by Risuli
Can you explain the "Homestead discount of $50000 off your assessment"? I applied for the Homestead exemption this past year and my Notice of Proposed Property Taxes shows the exemption applied as reducing my home's market value by $25,000 with assessments based off of this lower (-$25,000) valuation. Thx!
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According to the Florida Department of Revenue you should be seeing $25,000 exemption on school taxes and $50,000 exemption on County and Water Management taxes.
When I look on my TRIM notice I see a top block with the various taxes and a Taxable Value then a second block with Market Value and Assessed Value.
- My Assessed Value is less than my Market Value due to the Save Our Homes reduction
- My Taxable Value (that taxes are calculated against) is $50,000 less than my Assessed Value for County taxes and $25,000 less than my Assessed Value for Public Schools taxes.
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Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
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