Homestead Exemption in Sarasota County Florida - Part 1
Q: What is the history of the Homestead Exemption?
A: The Great Depression began in 1929. As the Depression deepened, many Florida property owners found themselves unable to pay their property taxes and in serious danger of losing their homes. In response in 1933, State Representative Dwight Rogers of Fort Lauderdale proposed and successfully passed legislation to place the $5,000 Homestead Exemption Amendment on the state ballot. Florida's voters overwhelmingly approved the Homestead Exemption Amendment in 1934. The initial Homestead Exemption exempted the first $5,000 of value from ad valorem taxes. Over the years the exemption amount was increased to $25,000. In January 2008, voters adopted a constitutional amendment which increased the Homestead Exemption to $50,000, (the second $25,000 does not apply to all taxing authorities and only applies to the portion of assessed value between $50,000 - $75,000).
Q: Does my existing Homestead Exemption move with me to my new house?
A: Homesteads do not transfer. A Homestead Exemption does not move with an owner from place to place. You must file for a new Homestead Exemption if you move. However, with Florida’s “portability” law (see below), homesteaded owners may move their Save Our Homes benefit from one homestead to the next.
Thinking about selling? Email or call Kwee at 941-716-3090. Thinking about buying in Sarasota County FL? Search your dream home here.
Q: Do I need to re-apply for my Homestead exemption every year?
A: NO. Each January, our office mails a Homestead Exemption Receipt card to every homesteaded property owner in Sarasota County. If there are no changes to the use and/or ownership of the property, simply keep the card as your receipt that you were automatically renewed for another year. However, if there are changes, please mark the card accordingly and return it to our office.
Homestead Exemption in Sarasota County Florida - Part 1
This information is provided by Sarasota County Property Appraiser Office. The Property Appraiser is responsible for assessed values and exemptions and can be reached at PA@SC-PA.com or 941-861-8200
Comments (7)Subscribe to CommentsComment