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Homestead Exemption in Sarasota County Florida - Part 1

By
Real Estate Agent with Kwee Huset Realty

    

      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

 

 

Posted by

 

Kwee-Huset

Kwee Huset

Kwee Huset Realty - Venice Florida Real Estate

Broker/owner, REALTOR®,  CIPS, AHWD, ESRES, TRC  

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info@kweehuset.com   

 

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Comments (7)

Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

This is a great post. I've thought about doing this topic, too. Our homestead exemption doesn't move with the homeowner, either. Wonderful and not often thought of information, Kwee.

Aug 26, 2013 12:48 PM
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Thanks Debbie. Great minds think alike.

Aug 26, 2013 12:52 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

This was a very good explanation of the Homestead Exemption. We don't have this here on Long Island...

Aug 26, 2013 07:06 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Kwee, interesting rules for different states!   I have seen posts stating to file your homestead, was wondering what that was!

Aug 26, 2013 10:14 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

A great reminder for those wishing to claim their Florida home as their primary residence.

Aug 26, 2013 10:49 PM
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Kwee,

This is really great information, it something I've been asked more and more over the last several years. 

Aug 27, 2013 12:25 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Great information about the Homestead Exemption in Sarasota. This is such a help for so many homeowners. Thanks.

Aug 27, 2013 10:53 PM