Filing for Homestead Exemption in Florida!
By Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living
(Tropic Shores Realty - Ich spreche Deutsch!)
For new Florida Home Owners, now is the time to file for Florida Homestead Exemption for 2020As 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 2. Here is the property tax calculation for the same ho...
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