Did you buy a home on 2018?
Is it your main residence?
Did you move in on or before January 1, 2019?
Then its time to HOMESTEAD!
For more info check out our Polk County Homestead Info post!
What is that? Farming and raising livestock? NO!
The Homestead Exemption is a tax benefit in the State of Florida that serves the homeowners in several ways.
1- Reduces Tax. How? You get a $25,000 ($50,000 if married) tax exemption. This means you dont pay taxes on that amount of your assessed value.
2- Caps Tax Increases. This means that your annual property tax cannot increase by more than 3% per year, for as long as you have that property homesteaded.
3- Protection from Creditors. This protects you from lawsuits being able to take your homestead to settle judgements.
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