One of the most important benefits you receive as a Florida homeowner is the Homestead Exemption. Surprisingly, too many homeowners do not take advantage of this cost savings benefit, which in effect, protects the value of your home from increased taxes and from creditors. The main provisions of the exemption are:
- Reduction of the Assessed Value of your home, by
$25,000, for single owners, or $50,000, for married owners. This alone represents a saving of between
$600 and $1200, per year depending on they value of your home.
- The exemption caps the yearly increase of the
Assessed Value to no more than 2% per year, providing important long-term
savings to you.
- Protects your Homestead from creditors in any
For new homeowners, who qualify by being in their homes on January 1, 2019, you must apply for the exemption by March 1, 2019, in order to qualify for the benefits during this tax year. You will need the following:
- PROOF OF OWNERSHIP: This is your DEED
- PROOF OF FLORIDA RESIDENCE: Your Drivers License or Florida ID plus another document
- Not have another property in Florida or anywhere under Homestead Exemption
In most counties you can either apply online or in person by going to the Property Appraisers office.
- In Broward, apply online HERE, this will take you to the appropriate section on the website
- In Miami-Dade, apply online HERE , which takes you to the website.
- In Palm Beach County, apply online HERE, this will take you to the form
Take some time and do this, it is an extremely important
benefit. It will save you money down the
road and headaches in the future.
Deadline is March 1, 2019. If you have any questions, please reach out.