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Have you Filed for Homestead Exemption in Brevard County?

By
Real Estate Broker/Owner with M & M Realty of Brevard Inc. BK629999

Have you Filed for Homestead Exemption?

Have you filed for Homestead Exemption in Brevard?

When 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 2014, 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, with Amendment 1, many homeowners may be entitled to an additional $25,000 in exemption for a total of $50,000 in exemption on the assessed value of their property.  Thus, allowing approximately an additional $240 savings on their tax bill.

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, 2014.  If you do not file by March 1 you may lose your rights to homestead for that year. You should complete an application (Form DR-501). It must then be submitted to the property appraiser’s office.  The pdf form can be found on the BrevardCounty Property Appraisers website.

In order to apply for homestead for the first time, an owner must have moved into the home prior to January 1, 2015 and it must be considered your primary residence.  With the completed homestead application an owner must provide:

1. Florida Driver License or Florida ID card.(with your new address on it)

2. Florida vehicle registration

3. Brevard County Voters Registration card

4. Social security number or social security card

5. If not a US resident, a Resident Alien Card

6. A copy of the trust, if the property is in a trust

7. The recorded deed to the property.

If you would like additional information on Homestead Exemption check the link on the Brevard County Property Appraisers Website. Be sure to check to see if you are eligible for other exemptions.

Sandy Shores Melbourne FL Real Estate Broker

Brevard County Real Estate

 

 

 

Comments (3)

Michael Dagner
Brokers Guild Classic - Denver, CO
Your Denver Homes Realty Expert

Sandy, good reminder for senior.  Every senior ought to have someone looking out for them to help them enroll as soon as they are eligible.  

Jan 12, 2015 01:32 PM
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Michael,  Homestead Exemption is not limited to just seniors.  Homeowners that live in a home as their primary residence are eligible for Homestead. Seniors should check to see if they may be eligible for additional exemptions.

Jan 13, 2015 12:41 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

This is key. The exemptions are a savings of real money.  Have a great week, Sandy!

Jan 13, 2015 05:26 AM