Florida Homestead Exemption Explained 🏡 - What You Need To Know!
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- เผยแพร่เมื่อ 16 ก.พ. 2022
- Did you know filing for Homestead Exemption could reduce the taxable value of your homestead property by up to $50,000 (off the assessed value), resulting in tax savings annually? 🤑
🏡 Here are some helpful County websites for filing Homestead Exemption:
Hillsborough County: www.hcpafl.org/
Pasco County: pascopa.com/
Pinellas County: www.pcpao.org/
Polk County: www.polkpa.org/Default.aspx
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Yeah, I'm homesteaded and got the standard $50,000 reduction on my tax base, but I STILL pay $5000 in property taxes and over $2500 in CDD fees for a 2400 sq. ft. home on a 1/3 acre. And that's in Zephyrhills! Not exactly West Palm Beach!
I filed for homestead exemption in December 2023. Does this mean I won’t see a difference in my taxes until 2025?
Hi Patrick! Do you have to do anything to apply the homestead of your previous home to your new home (portability)?
Hi! All you have to do is visit your county appraiser's website and they will have an option for you to easily file your homestead and portability.
How is the portability beneficial ? Does everyone get 50 thousand off when they get approved?@@patrickstorch
I'm closing a home on September its a new construction home, should i apply already or wait until 2023 to file it? does homestead exemption does this, my mortage is valued at $3,125 a month so how does home stead exemption works?
Thanks for the information. What if you missed the deadline? My property tax already went up, will it go up again this year? Thanks for your help.
You’re so welcome! You can still visit your local property appraiser's website to file for homestead to keep your property taxes from increasing substantially again this year!
@@patrickstorchdo you apply every year??
I closed on a second home April 6, 2023. I see past the deadline. I am there for about 7 days every month, can I file? if so Would I have to wait to until 2024 to do so?
If I recently moved, and rented out my Florida home, when do I need to remove the homestead exception? Do I get to keep it till the end of the year?
To the best of our knowledge, the exemption will be good through the end of the calendar year, but please consult your local property appraiser's website for specific guidelines.
The military moved me down here five years ago and I bought a home as my primary residence at that time. I am just finding out now about the homestead exemption. Is there anyway to make that retroactive?
Your local property appraiser office will have all the information for you to determine if you can still receive homestead exemption:)
@@patrickstorch Thank you!!
I would like to move to Ocala and take my portability homestead with me
That's awesome! Feel free to give us a call at 813-616-8844 so we can walk you through it.
I'm in Sarasota. Can you expand on the portability? If I bought in 2012/Homesteaded, and now it's worth 500k, and then I bought and moved into an 800k home, what numerics is portable? My current tax bill would stay the same amount as the old house as on the new house, plus a 3% increase a year? Thanks.
@@Michael-qy1jz Hi Michael! If you are located in Sarasota County, your county appraiser has a super helpful chart regarding portability. I've added it here! www.sc-pa.com/exemptions/homestead/save-our-homesportability/
@@patrickstorch Thank you. !
So when you buy a house it’s not automatically filed. How do you know if you already have homestead exemption?
Hi Brandi! Yes, when you purchase a house you have to manually file for Homestead Exemption. You can file through your local property appraiser website and the deadline is March 1st.
Even if I told the closing company it was to be homesteaders?
Damn did I mess up ugh
I have homestead exemption & my property taxes went up by 23% in one year is that legal?
Hi! We recommend that you speak with your local property appraiser about the high percentage. But, we could walk you through this as well - we're always available by call or text at 813-616-8844.
My fiance and I both have our names on the house but I'm the only one on the loan. Does she need to file as well?
If it is both your primary residence and you are married then yes but for further clarification, I would go to the property appraiser website as sometimes I see where only one spouse files for the homestead.
We aren't married. I will do that though thanks.
Do you have to apply for homestead exemption every year that you live in the property?
Just when you move! Once you file the first time it stays with that property and then you can move your homestead to the next property:)
I’m so sorry to interrupt, but that is false information. If you own a home on private property in the state of Florida and that private personal property is in NO WAY ASSOCITATED WITH AN ACT OF COMMERCE or profit producing activity….there is no tax due at all! Your shelter is not taxable. The exemption you are applying for it to separate your homestead from the peroration of your property that is operating in commerce. Start researching!
What are you saying?
I like what you are saying but I wish to more. Please explain further, great info so far !
So basically my question would be, then what are "taxes" even for, what is the government using this for? And why are they then taxing based on house value ?
Are you talking about a trailer on someone else's land?