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Homestead Property Tax Exemption

What is it? 

The Homestead Exemption in conjunction with the Save Our Homes assessment limitation allows Floridians to save money on their property taxes. The Property Tax Homestead Exemption may qualify residence for up to $50,000 of property tax exemption. The first $25,000 applies to all property taxes including school tax while the addition $25,000 applies only to the assessed value of the property between $50,000 and $75,000 but only to non-school property taxes. 


Benefits

Asset Protection - Protects Property Owners from having to forcibly sell their home to pay creditors

Unlimited Value - Homestead laws protect an unlimited amount of the homes value

There is no waiting period to benefit from the Homestead Law

Familial Protection - The Homestead Law protects family members from disinheritance

as the owner can only leave a Homesteaded property to his or her surviving spouse or children.

Property Tax Savings - As discussed above the Homestead Law allows for a

Property Tax Exemption up to $50,000.


Who Qualifies?

Florida Residents who have the intent of residing and Florida Permanently may be eligible

to Homestead their property. The Homestead may be inherited by a spouse or heirs.

Residents who own and occupy their home and qualify for the $25,000 homestead exemption

will also automatically qualify for the Save-Our-Homes Cap

** Please note if you or your spouse have a homestead exemption or the equivalent in another Country or State you must first surrender that exemption before becoming eligible for the Homestead Exemption in Florida


Homestead Exemption Online Filing Link

https://secure.co.palm-beach.fl.us/papaefile/web/heapplication/login.aspx

Requirements

Must be a Florida Resident

 Acreage Limitations 

-Within a municipality up to 1/2 acre can be protected by the homestead law,

this does not include Ancillary Buildings and/or Business Structures on the property

- Outside of a Municipality up to 160 acres can be protected and

may include Ancillary Buildings and Business Structures on the property 


How to Apply

When Applying for a Homestead exemption you will need the following:

Proof of Ownership -  A Deed or Proprietary Co-Op Lease held in the name of the applicants

Proof of Permanent Florida Residence - Florida Photo ID/ Drivers License AND  Voters Registration Card or Recorded Declaration of Domicile

The Following information will be required when filling out the application:

• Current employers of all owners

• Addresses listed on last I.R.S. income tax returns.

• Date of each owner's permanent Florida residence.

• Date of occupancy for each property owner.

• Social Security numbers of all owners filing.

• Social Security number of any married spouse of the applicant, even if the spouse is not named in the deed and is not filing).