You may want to think again: there can be consequences if you rent your primary homesteaded residence for periods of time.
How exactly? Jerry Holland, Duval County Property Appraiser, met with the Beaches Northeast Florida Association of Realtors this morning. He shared that the office is using all means available (including social media) to confirm possible cases of either homestead abuse or potential homestead fraud.
In short, if you rent your primary homesteaded property for more than 30 total days in a two year period, you will be ineligible for the Homestead Exemption and the Save Our Homes cap. You read that correctly: if you rent your home for more than 15 days each year for two consecutive years, you will lose your existing homestead exemption.
Failure to report the rental of your home may result in your homestead exemption and the Save Our Homes cap benefit being back taxed by recording a lien on your property.
So, what can you do? Best bet: if you have used your primary residence as an occasional vacation rental, come clean, and face the music now.
Comments(6)