With the start of the new year, it is time for Florida residents to start thinking about filing for homestead exemption. In our first MSC Title Talk of 2019, we broke down the benefits and requirements of this money-saving measure. Here is a little refresher, so you can check it off your list.
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Benefits Of Filing Homestead Exemption
By filing for homestead exemption, you are entitled to a deduction of $25,000 off of your property’s assessed value. This can result in saving several hundred dollars in taxes. If your home is worth at least $75,000 you will receive an additional $25,000 deduction on your property’s assessed value. You may also qualify for additional homestead exemptions if you are 65 years or older or have a disability. Most importantly, by filing for homestead exemption this means that the assessed value of your property cannot increase more than 3% per year. These tax savings can now be transferred to a new Florida residence in case you move. For more details about homestead exemption, please visit your county’s property appraiser’s website.
Important Announcement
In order to file for Homestead Exemption, you MUST be a permanent Florida resident and occupy the property as of January 1, 2019, or have beneficial interest under a 98-year lease or life estate. However, the law does not require you to reside at your property a minimum number of days every year, in order to be a permanent resident.
Where And How To File For Homestead Exemption
You may file online*, by mail, or in person at: SARASOTA COUNTY PROPERTY APPRAISER Telephone: 941.861.8200 | Website Office Locations: 2001 Adams Lane • Sarasota, FL 34237 4000 S. Tamiami Trail, Suite 115 • Venice, FL 34293 MANATEE COUNTY PROPERTY APPRAISER Telephone: 941.748.8208 | Website | Email Office Location: 915 4th Avenue W. • Bradenton, FL 34205 CHARLOTTE COUNTY PROPERTY APPRAISER Telephone: 941.743.1593 | Website | Email Office Locations: 410 Taylor Street • Punta Gorda, FL 33950 18500 Murdock Circle • Third Floor • Port Charlotte, FL 33948 6868 San Casa Drive • Englewood, FL 34224 *Note filing on-line will require more information and documentation than filing in person. DESOTO COUNTY PROPERTY APPRAISER Telephone: 863.993.4866 | Website Office Location: 201 East Oak Street, Rm 102 • Arcadia, FL 34266 LEE COUNTY PROPERTY APPRAISER Telephone: 239.533.6100 | Website | Email Office Location: 2480 Thompson Street • Fort Myers, FL 33901
WHAT TO BRING
May vary by county, check your county’s property appraiser’s website for more details.
- A recorded deed for your homestead property
- Tax bill for your homestead property
- Florida driver’s license or Florida state-issued ID
- Social Security Numbers for yourself (and spouse if married)
- If not a U.S. citizen, your Alien registration card
- Florida vehicle registration
- Declaration of Domicile or Florida voter registration
- Copy of entire trust agreement if the property is held in a trust
That the information above is general and you may want to consult with an attorney for further advice as to how these various alternatives apply to you individually.
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