Unlocking Savings on Your Florida Property: A Guide to Homestead Exemption
As a homeowner in Florida, you’re likely looking for ways to save money on your property taxes. One effective way to do so is by applying for the homestead exemption, which can decrease your property’s taxable value by up to $50,000. In this article, we’ll break down what the homestead exemption is, who’s eligible to file, and provide a step-by-step guide on how to apply.
What is Homestead Exemption?
The homestead exemption is a tax break offered by the state of Florida to homeowners who make their property their permanent residence or the permanent residence of their dependent. This exemption can significantly reduce your property taxes, providing you with more money in your pocket each year.
Am I Eligible to File?
To be eligible for the homestead exemption, you must meet certain requirements:
- You must own the property with legal or beneficial title recorded in the Official Records of the county where the property resides.
- You must reside on the property as your permanent residence.
- You must be a permanent resident of Florida.
- You must be a United States citizen or possess a Permanent Residence Card (green card).
How Do I Apply?
To apply for the homestead exemption, you can complete an application form online, by mail, or in person. To submit your application, follow these steps:
- Visit your local property appraiser’s office website (check their website for specific instructions) and complete the online application form.
- Submit the completed application form to the county by March 1st
- Ensure you have all required documents listed below
What Information Do I Need To Provide?
When applying by mail or in person, you’ll need to provide:
- A copy of your Florida Driver’s License or Florida Identification Card
- At least one of the following: Florida Vehicle Registration, Florida Voter Registration Card, or a Recorded Declaration of Domicile (affidavit of residency)
- Social Security numbers for yourself and any spouse who owns and/or resides on the property
- If you’re not a United States citizen, your Permanent Residence (green) Card
When Do I Apply?
Filing for homestead exemption begins January 1st each year. All exemption applications must be filed by March 1st to take effect for that year. You may also pre-file from March 2nd through December 31st for the following year.
By taking advantage of the homestead exemption, you can significantly reduce your property taxes and keep more of your hard-earned money.
