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What You Need To Know About The Florida Homestead Exemption

The Homestead Exemption The Florida Department of Revenue’s website publishes a complete list of the state’s exemptions from real estate taxes. A ballot initiative known as the Homestead Exemption Increase Amendment attempted to expand the exemption in 2018 from $50,000 to $75,000.

THE FLORIDA HOMESTEAD EXEMPTION GENERALLY The Florida Homestead Exemption reduces the taxable value of real property by up to $25,000, $50,000 for a married couple. It is an ad valorem tax exemption provided by Florida law for qualified residents who own and reside on the property as their primary residence.

You can apply for a homestead exemption in Florida if the property is your official permanent residence and if you have legal or beneficial title in the property. Start by gathering the required documents, including a Florida driver’s license or ID card, vehicle registration if you drive, social security card or a document with your number on it, a copy of your deed, tax bill, and Notice of Proposed Property taxes.

The homestead exemption is available to you if you meet certain conditions by January 1. You must be a Florida resident occupying the home you legally own. If you took ownership or became a resident after January 1, you won’t be entitled to the exemption for the year. However, you’ll be eligible for next year.

You will need the following in order to apply for Homestead Exemption: Proof of Ownership: This would be the recorded deed or if your home is a co-op then you will need the proprietary lease. Both of these documents must include the names of the persons applying for the exemption.

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If you own property on January 1, you may qualify for the Homestead Exemption. If, like some of our clients, you’ve recently purchased real estate in Florida or are contemplating doing so in the future, you’ll want to read this timely reminder about the Florida Homestead Exemption.

For Duval county, you can have an out of state license and still apply for your homestead exemption. You will need a Declaration of Domicile from the Duval County Circuit Civil Department at the Duval County C Courthouse. You will need your military ID to fill out this document.

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