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Did you apply for your Homestead Exemption?

By
Real Estate Agent with Kirsten Realty Tampa Florida

 

 

Deadline is March 1 to apply for your Homestead Exemption if you purchased last year, and this is your primary residence.   The homeowner must file a claim for homestead exemption with the state. 

Homestead exemptions remove part of your home's value from taxation, so they lower your taxes.

Every person who owns and resides on real property in Florida on January 1 and makes the property their permanent residence is eligible to receive a homestead exemption up to $50,000..

Requirements

  • The owner must have legal or beneficial title to the property recorded in Hillsborough County by January 1 of the year of application. Homestead exemption application (DR-501).
  • The application must be submitted on or before March 1, unless it falls on a weekend or legal holiday, then it would extend to the next business day, to be timely filed.
  • The owner must establish Hillsborough County as his/her legal domicile and reside on the subject property, be a US citizen or Permanent Resident.

At the time of application the applicant should have:

•·       Proof of Florida residency (i.e. Driver license) A "Valid in Florida" designation on your Florida driver license is not acceptable. A Florida Identification Card with an out of state driver license is not acceptable.

•·       Proof of Citizenship (i.e. voter registration or permanent resident card)

•·       Address of property, tax bill or deed/title.

•·       Social Security numbers for your spouse and any owner who resides on the property. (FL Stat 196.011(11)).

•·       If you have a mobile home, you will need your title or registration to the mobile home and the deed to the real estate.

•·       If the real estate is in a trust, you will need to provide us evidence of from the Trust which provides that you have the necessary ownership interest to qualify for homestead exemption. (see sample verbiage or Fl Stat. 196.041(2)).

To qualify for the current year you must have title to the property and moved onto the property as of January 1. You may go in person to complete the application at any of the 5 offices of the Hillsborough County Property Appraiser by March 1, unless it falls on a weekend or legal holiday and then it would

extend to the next business day. We also have the application online to print with a sample and instructions that you may use and return by mail.

Cut and paste the following to receive a form.

http://www.hcpafl.org/downloads/pdfs/dr501.pdf

If you need any help, just call

Show All Comments Sort:
Russel Ray, San Diego Business & Marketing Consultant & Photographer
Russel Ray - San Diego State University, CA

$50,000! That's a seriously nice homestead exemption. Our homestead exemption is a whopping $7,500.

Feb 23, 2010 01:23 PM
Sharon Richards
Kirsten Realty Tampa Florida - Tampa, FL

Russell - One of the many benefits of home ownership in Florida.  Of course, living in California has to be awesome, and I hope to visit one day.

Feb 24, 2010 05:04 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Our state homested exemption got nixed in budget cuts, but this is great reminder I need to do a post because we still have local exemptions and our deadline is April 1

Mar 04, 2010 08:10 AM
Sharon Richards
Kirsten Realty Tampa Florida - Tampa, FL

Hi Tammy -   I try to keep my clients up to date.   Some of my buyers called and I was able to help them.

Mar 04, 2010 01:02 PM
Al & Peggy Cunningham, Brokers
RE/MAX West Realty Inc., Brokerage - Brampton, ON
Our Family Wants To Help Your Family!

We got here after March 1st Sharon but hope people heeded your advice for the exemption. Huge difference between Florida's excemption and California's??

Mar 07, 2010 12:27 PM
Sharon Richards
Kirsten Realty Tampa Florida - Tampa, FL

Al & Peggy - This is one of the benefits of owning a home in Florida.  Thanks for stopping by!

Mar 07, 2010 01:37 PM
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Another benefit of owning a home in Florida is living in it, because if you live in Florida, there's no state income tax. Very different from California!

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Mar 08, 2010 05:10 AM