Florida's Homestead Tax Exemption

Florida's Homestead Tax Exemption is one of the most protective of Homeowners in the nation.  Designed to prevent homeowners from being taxed out of their homes, it affords assurance that your spot in the Sunshine state will not be threatened by rising taxes.  This created quite a controversy in the boom of the past few years as new residents found themselves paying much higher taxes than their neighbors who had been in their homes for years. 

What Is Homestead Exemption?

A Constitutional benefit of up to $50,000, available to bona fide Florida residents who live in, and claim a residence as their permanent and primary home on January 1, and file an application with the Property Appraiser's Office prior to March 1. It exempts the first $25,000 and applies to the Assessed Value of all taxing levies. The second $25,000 applies to the Assessed Value beginning at $50,000 up to $75,000, of all taxing levies with the exception of the School District.

The exemption amount is incremental, depending on the Assessed Value of the property.

• If your Homestead property has an Assessed Value of up to $50,000, you will keep the current exemption of $25,000.

• If your Homestead property has an Assessed Value of $50,001 through $74,999, the additional homestead exemption will increase up to $24,999. 
• If your Homestead property has an Assessed Value of $75,000 or more, you will receive the full additional $25,000 Homestead Exemption.

The additional exemption applies to all taxing levies with the exception of the School District.

How Does the Additional Homestead Relate To My Value?

	HOME #1	HOME #2	HOME #3
ASSESSED VALUE	$45,000	$55,000	$75,000
MINUS CURRENT EXEMPTION	-25,000	-25,000	-25,000
MINUS ADDITIONAL EXEMPTION	0	-5,000	-25,000
EQUALS TAXABLE VALUE	$20,000	$25,000	$25,000

Here's how it works...when you purchase your Florida home with the intent of residing in it, you must be a legal resident of that home on January 1 of the year you intend to file for homestead exemption.  You must have the address of the home on your driver's license, your car registrations must be in that name, your voter registration must be for the district of the home, and proof of ownership of the home by the first of the year must be documented.

You may apply in person or by mail.  Be prepared to document all of the above qualifying criteria.  Here's what you need to bring:

What Do I Need To Bring?

• Valid Florida Driver License (You cannot have a Driver License in another state.) The address must be the same as your Homestead Property Address. If you do not drive, a Florida Identification Card is acceptable
   
• Driver License or Identification Card for Spouse
   
• Hernando County Voter Registration Card (If you are a registered voter, your voter registration address must be the same as your Homestead Property address). If you are not a registered voter, a Declaration of Domicile recorded with the Clerk of Circuit Court is required
   
• Vehicle Registrations owned or leased by you and your Spouse
   
• Social Security Number for all Homestead applicants and Spouse
   
• It is very important for you to know....that Social Security Numbers will remain confidential pursuant to FS 193.114(6) and FS 193.074
   
• Complete Previous Address and proof of all other property you and your Spouse resided at within the past three years. If rented, a copy of the Lease. If still own, a copy of the most recent Tax Bill. If sold, a copy of the Settlement Statement is required.
   
• If Homestead applicant or Spouse receives an exemption benefit from another state, a letter is required from that State or Country Assessment Office verifying the cancellation of the exemption
   
• If employed, employer's name, address and valid phone number
   
• If you or your Spouse are employed in another state, a copy of your prior year's State and Federal Income Tax Return
   
• If you are not a U.S. Citizen, an I.N.S. Permanent Resident Card, a Release Form Affidavit, and a Declaration of Domicile recorded with the Clerk of Circuit Court are required
   
• If the Homestead property is owned by a Trust, see your attorney for specific verbiage required on the deed conveying "equitable title to real estate".
   
• Mobile Home Title or Registration (Real Property decals required)
  

There are additional exemptions for widows/widowers, legally blind, permanently disabled, low income seniors, and service connected disabled.  These accumulate to substantial savings on real estate taxes, but there is a deadline to file.  All applications must be submitted BEFORE March 1 to qualify, so if you are a new Florida resident, Don't Delay.