What is the Florida Homestead Exemption?

By
Real Estate Agent with All Real Estate Options

What is the Florida Homestead Exemption?

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This is taken straight from the Homestead application used to file for the homestead exemption:

Every person who owns real property in Florida on January 1, makes the property his or her permanent residence or the permanent residence of a legal or natural dependent,and files an application may receive a property tax exemption up to $50,000. The first $25,000 applies to all property taxes. The added $25,000 applies to assessed value over $50,000 and only to non-school taxes.
 
Save our Homes (SOH): Beginning the year after you receive homestead exemption, the assessment on your home cannot increase by more than the lesser of the change in the Consumer Price Index or 3 percent each year, no matter how much the just value increases. If you have moved from one Florida homestead to another within the last two years, you may be eligible to take some of your SOH savings with you. See your property appraiser for more information.
 
So, as you can see, it's not as simple as taking 50k off of your accessed value, BUT it can give you a rough idea what to expect. If you buy a house this year and the current owner has it homesteaded (is that even a word?), then you will get to use their homestead for the remaining tax period. Once you get your deed in the mail, which should take about 6 weeks or so, you want to go file it then and there. Ok, you can wait a day or two if you want, but don't forget. You have until March 1st of the following year to file, but don't wait or life can happen. I know I'm bossy, I just don't want you to spend more money than you have to. :)
 
Where do you file?
Clay County (Tax Collector)
477 Houston St Green Cove Springs, FL 32043 904-284/269-6395
1518 Park Ave Orange Park, FL 32073 904-269-6320
 
Duval County (Tax Collector)
231 E Forsyth St Jacksonville, FL 32202 904-630-1916
 
St Johns County (Tax Collector)
4030 Lewis Speedway St Augustine, FL 32084 904-209-2250
Click here for other branches
 
 
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Pam lists and sells homes in Jacksonville, Orange Park, Green Cove Springs, Fleming Island, Middleburg,Ponte Vedra, Atlantic Beach, Neptune Beach, Jacksonville Beach, Orangedale, Fruit Cove, Switzerland and St Johns County Florida.

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Pam Graham with All Real Estate Options handles Jacksonville Florida short sales, Orange Park Florida short sales, Fleming Island Florida Short sales, Middleburg Florida short sales, Green Cove Springs Florida short sales, St Johns County Florida short sales, Ponte Vedra Florida short sales, St Augustine short sales, Palm Valley short sales, Duval County Florida short sales and Clay County Florida short sales.

 

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ALL Real Estate Options is not associated with the government and our services have not been approved by the government or your Lender. If you stop paying your mortgage you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.

Comments (2)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Pam - Thanks for the detailed information on the Florida Homestead Exemption.

Aug 28, 2015 10:16 AM
Pam Graham
All Real Estate Options - Jacksonville, FL
Jacksonville, Clay & St Johns Counties

Thank you John Pusa!

Aug 31, 2015 12:26 AM