If you are under contract right now, make an effort to close before the end of the year so you can take advantage of this exemption that can save you an average of $800 next year. Every person who owns and resides on real property in Florida on January 1st and makes the property his or her permanent residence is eligible to receive a homestead exemption up to $50,000. If you miss the deadline unfortunately you will have to wait till next year to get the discount.
1. The first $25,000 applies to all property taxes, including school district taxes.2. The additional exemption up to $25,000, applies to the assessed value between $50,000 and $75,000 and only to non-school taxes.
The application for homestead exemption (Form DR-501) and other property tax forms are posted on the State of FL form page and on most property appraiser's websites. Click here for FL county property appraiser contact and website info.
- Broward County: http://www.bcpa.net/homestead.asp
- Miami-Dade County: http://www.miamidade.gov/pa/exemptions.asp
- West Palm Beach County: http://www.pbcgov.com/papa/ExemptionServices.htm
- Hillsborough County: http://www.hcpafl.org/
- Pinellas County: http://www.pcpao.org/
- Pasco County: http://www.appraiser.pascogov.com/
- Hernando County: http://www.hernandopafl.
Some county sites have quick and easy online applications.
If filing for the first time, be prepared to answer these questions:
- Whose name or names were recorded on the title on January 1?
- What is the street address of the property?
- Were you living in the dwelling on January 1?
- Do you claim homestead in another county or state?
Remember: Deadline to own a property: January 1st (note: national holiday so actually it’s Dec. 31st)
