Time to File Homestead Exemption for Florida Residents
If you own a home in Florida and live in it as your primary residence, then Florida law typically allows you a $25,000 tax exemption on the assessed value of the property. If you purchased the property in 2012, then it is time for you to file for homestead, as it doesn't automatically transfer to a new owner, at the start of the new year. An application must be filed. After that, the exemption automatically renews, if you remain eligible.
Homestead exemption may allow a Florida homeowner a savings of approximately $450 on their yearly tax bill. And, some homeowners may be entitled to an additional $25,000 in exemption for a total of $50,000, on the assessed value of their property. Check online to see whether you are eligible and if there are any other exemptions applicable to you.
New homeowners may apply for homestead between January 1 and March 1, for the first time. You must have purchased your home prior to December 31, 2012. If you do not file by March 1 you may lose your rights to homestead for that year.
In order to apply for homestead for the first time, an owner must have moved into the home prior to January 1, 2012 and it must be considered your primary residence. In order to file you will need:
Florida Driver's License, or if you don't drive a Florida Identification Card
In some cases an owner can file for homestead online. Check the website as there are certain circumstances in which you will not be allowed to file for homestead exemption online.
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