What is Homestead Exemption?
Homestead exemption is a constitutional guarantee that reduces the assessed value of residential property up to $25,000 for qualified permanent Florida residents.
When may I apply for homestead exemption?
You may apply as soon as you occupy the residence as the legal owner and have proof of Florida residency.
Can I rent my home and still benefit from homestead exemption?
NO. Rental of your primary residence constitutes abandonment of homestead exemption. Please contact the Tangible Personal Property Department for filing requirements on rental properties.
May I get homestead exemption on a mobile home?
YES. You may if you own the land that the mobile home is permanently affixed to.
Do I have to be a US citizen to qualify?
Citizenship is not required to file for homestead exemption. An applicant who is not a US Citizen must present a permanent resident alien card (green card), and a Declaration of Domicile when they apply.
NOTE: You must apply prior to March 1st. Homestead Exemption applies the first year that you live in the property on January 1st. If you move in after January 1st, your homestead exemption will begin the next year.
ANNOTATION provided by Sybil Johnston of American Equity Mortgage: Florida's constitution provides for a $25,000 exemption, which is deducted from a property's assessed value if the owner qualifies. Applicants who timely file by March 1, possess title to the real property, and are bona fide Florida residents living in the dwelling and making it their permanent home as of January 1, qualify for the exemption. Properties granted Homestead Exemption also automatically receive the "Save Our Homes", Amendment 10, benefit. Additional $25,000 Homestead Exemption: All persons receiving the standard homestead exemption who continue to qualify for that exemption automatically qualify to receive the additional homestead exemption. No further application is necessary. The additional $25,000 exemption applies to taxable values greater than $50,000 and up to $75,000, for all tax levies except school district levies.
Josh Parker is the Team Leader of ProFusion Property Group, located in the Trinity & Odessa area. ProFusion Property Group specializes in the listing & sale of residential real estate all over Pinellas, Pasco & Hillsborough County. His team has successfully sold over 175 units for their clients in 2012, while maintaining an exceptional “sold price to list price” statistic of 99.08%. For more information, free tips, and free home searches, please visit Josh & the ProFusion Team at www.profusionpg.com!
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