Florida Homeowner Exemption
Are you a permanent Florida Resident and homeowner?
Have you filed for the Florida Homestead Exemption?
What is the Florida Homestead Exemption?
As a permanent Florida Resident and homeowner, you are entitled to get a homestead exemption on your primary residence.
The exemption is a $50,000 reduction of the assessed value of your home which determines your property taxes.
What are the eligibility requirements for the Homestead Exemption?
To be eligible for the Homestead Exemption your home must be your primary residence as of January 1 in the year you are filing. If you rented the property in the previous year, you only could have done so for a maximum of 30 days.
When should I file an application for a homestead exemption?
Your application must be filed between January 1 and March 1. The March 1st deadline is in year you are filing.
You can file online in Sarasota County using the Sarasota Appraiser’s site
https://www.sc-pa.com and look under Exemptions. If the property you are homesteading is in another county, look under that county’s appraiser site.
What documentation do I need to file for the homestead exemption?
All documentation must show your permanent residence address.
You will need:
Valid Florida Driver License or Valid Florida Identification card with the ID number and issue date.
Florida Vehicle registration (if vehicle owner) with tag number and issue date.
Voter registration (if registered voter) with ID number and issue date.
If you are not a citizen, you will need your Permanent Resident Alien Card with ID number and issue date.
(Also, you must submit a copy as part of the exemption application).
What other information is on the exemption application?
You will also have to provide the following:
Date of birth
Social Security Number (if you are married, you will also be required to provide your spouse's SSN)
Date you purchased the property
Date you occupied the property
Address of previous residence
Address of other property or properties owned
Employment information (if applicable)
Mailing address listed in last IRS tax return
Married couples filing for homestead exemption must complete the application during the same application session. If you are married AND your spouse is NOT filing for homestead exemption, you will be asked to provide the following information:
Name of spouse
Spouse's Social Security Number
Spouse's Date of birth
Spouse's Florida Driver License or Florida Identification Card number (if applicable)
Spouse's primary residence address & residency-based exemptions/discount information
In addition to the homestead benefit the Save Our Homes (SOH) cap was established in 1995 according to Florida Statutes. The SOH cap is placed on the Assessed Value the year after the property receives a Homestead Exemption and is based on the lower of the following:
Three percent of the Assessed Value of the property for the prior year, or the percentage change in the Consumer Price Index (CPI) as reported by the U.S. Department of Labor, Bureau of Labor Statistics. This means your taxes will not increase by more than 3% in any given year.
In 2008 a constitutional amendment was passed adding portability of the exemption; allowing some or all of the exemption to be transferred to another home. Very beneficial to a homeowner who trades up to a larger home or one who downsizes to a smaller one.
Do you qualify for additional homestead exemptions in Sarasota?
To find out if you qualify for additional homestead exemptions,
Contact the Property Appraiser’s office in the county that your property is located.
Hopefully this information will help you. Happy homesteading!
For more information Call or Text me @ 941.993.3125