Seminol County home owners, are you confused about Amendment 1?

Seminole County home owners, are you confused about Amendment 1?  Let us try to clarify a few points.

The Florida Department of Revenue and the local Seminole, Orange and other county property appraiser web sites (see below) are the best source for up-to-date information, including documents and forms related to portability, the additional homestead exemption and the tangible personal property tax exemption.

Heres a quick overview:

•·          Increased homestead exemption. Seminole County homeowners will receive automatically. No action is necessary.  

•·          Portability is retroactive to Jan. 1, 2007. Seminole County home owners who sold their homestead last year and bought a new home that qualifies as a homestead as of Jan. 1, 2008, must apply by March 1, 2008, to the Seminole County property appraiser to transfer their Save Our Homes benefit. 

A portability application form is available at most of the county property appraisers web sites.

LAKE COUNTY                      http://www.lakecopropappr.com/

ORANGE COUNTY                 http://www.ocpafl.org/

OSCEOLA COUNTY               http://www.property-appraiser.org/

SEMINOLE COUNTY              http://www.scpafl.org/scpaweb05/index.jsp

VOLUSIA COUNTY                http://webserver.vcgov.org/index.html

•·          $25,000 exemption for tangible personal property. This tax applies to businesses and certain owners of mobile homes. It does not apply to homestead property. In order to receive the exemption, taxpayers subject to the tax must file a tangible personal property return with their property appraiser by April 1, 2008.

10% annual assessment cap for non-homestead property. The 10% cap does not apply until next year. No action is necessary in 2008.

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