Filing for Homestead Exemption in Florida!

By
Real Estate Agent with Tropic Shores Realty - Ich spreche Deutsch!

For new Florida Home Owners, now is the time to file for Florida Homestead Exemption for 2020

As a new Florida Home owner who purchased a Florida home in 2019 and are using it as your primary residence, you should now take the time to file for Florida Homestead Exemption! 

In Hernando County, Florida, the Homestead Exemption provides for a reduction in the taxable value of the home by $50,000.  Most importantly, it also places a cap on the annual increase in assessed valuation thus protecting home owners from sudden spikes in assessments and consequently property taxes.

Here is an example of the property tax calculation for a home without and with homestead exemption:

 

1. Without homestead exemption - the property taxes are $1,838.64

 

Property Taxes WITHOUT homestead exemption

 

2.  Here is the property tax calculation for the same home WITH homestead exemption:  Property taxes are now $1,183.84 - a substantial savings!

 

Property Tax WITH homestead exemption

 

To read more about how the Florida Homestead exemption works, please click on the link "What is Florida Homestead Exemption" .

 

If you have purchased a home in 2019 and it is your primary residence

in which you have lived in as of January 1, 2020

make sure you have applied for homestead exemption. 

The deadline is March 1, don't miss it!

 

To apply for this beneficial exemption under the Florida Homestead Exemption law and to find out how it applies to your particular situation, please contact your local property appraiser's office.

Home owners in Hernando County, Florida, please contact the Hernando County Property Appraisers office at 352-754-4190 or visit them at one of their two locations either at

20 N Main Street, Brooksville, Florida

OR

in the Forest Oaks Government Center in Spring Hill, Florida, 7525 Forest Oaks Blvd

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 For more information about Hernando County Homes and Land for sale including Spring Hill and the communities of Timber Pines, Glen Lakes Golf and Country Club, Silverthorn, and Hernando Beach , please call or visit my website!

Let me help you find Your Place in the Sun!

 

Silvia Dukes PA, Broker Associate

Tropic Shores Realty, 3441 Deltona Blvd, Spring Hill, FL 34606

Phone: 352-584-7441    Email: SilviaDFL@yahoo.com   Website:  www.SilviaDukes.com

 

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Copyright (c) Silvia Dukes 2006-2020.  All Rights Reserved. 

Listing and real estate market information is current as of the date it was posted but subject to changes.

All content, including text and photographic images, is the exclusive property of Silvia Dukes, P.A. and may not be used without expressed written permission.   

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Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES - I have a home in Florida and homestead is a good thing. But with my higher NY property taxes STAR exemption works better for me to save   

Jan 20, 2020 01:21 PM #1
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Silvia- good to see you here!!! And this is good information for homeowners. 

Jan 20, 2020 06:38 PM #2
Rainmaker
1,430,101
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Hi Silvia, It is amazing how many homeowners do not realize how important it is to file for homestead. Not only do they save money, they also get protections against creditors and financial predators. Great post.

Jan 21, 2020 07:57 AM #3
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Silvia this is great information for those residents who qualify.

Jan 21, 2020 11:16 AM #4
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Welcome back Silvia, hope all is well with you and I hope you have a great 2020.

Feb 01, 2020 03:48 PM #5
Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Silvia nice to put out such great information, so many people have no idea about the Homestead Act Endre

Mar 09, 2020 09:59 PM #6
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