Sue Brite, Realtor, Bradenton, Florida, Manatee County, Coldwell Banker

Homestead Exemption


What is Homestead Exemption? It’s a constitutional guarantee for qualified permanent residents of Florida that reduces the assessed value of their properties by up to $25,000. Does a homeowner have to be a U.S. citizen to qualify? No, citizenship is not required but a permanent resident alien card (green card) and a Declaration of Domicile must be presented when filing for a homestead exemption. When can a homeowner apply for this exemption? As soon as the legal owner occupies the residence and can produce proof of Florida residency. The filing deadline is March 1 of the year the exemption is to be made. What information do you need to file? Besides a recorded deed or tax bill in the applicant’s name, you’ll need proof of residency prior to January 1 for all owners who occupy the property. This must be presented in person at the county property appraiser’s office. What can I use as proof of residency? A Florida voter registration card, Florida driver’s license, social security numbers, Florida auto tag registration, and copy of the trust agreement if property is held in a trust are all forms of I.D. accepted as proof of residency. Is the homestead exemption transferred to new owners? No. For a homeowner to receive the exemption, they must go to the County Property Appraiser’s office by March 1 to apply for the exemption on their new home. However, if you purchase a home that has an existing homestead exemption, the exemption will remain in effect until December 31st. To maintain a homestead exemption on that property as the new owner, you must apply by March 1 of the year following the purchase of your home. Are there other exemptions I may qualify for? Yes, you may qualify for medical, disabled veterans, widows and widowers, total and permanent disability, blind, quadriplegic, wheelchair confined and service connected disability exemptions in addition to the basic $25,000 exemption. How is the “Save Our Homes” or Amendment 10 related to the Homestead Amendment? It caps the annual increase in assessed value for homesteaded property. The increase cannot exceed the lesser of 3% or the Consumer Price Index (CPI) for the previous year. In no event can the assessed value be greater than the market value. When did Amendment 10 take effect? It became effective January 1, 1994 which means that 1994 was the base year for establishing the cap for all property owners who were receiving their homestead exemption that year. After 1994, the base year is the year in which the property owner qualifies and receives their homestead exemption. NOTE: Ask your Realtor® or mortgage lender to help you identify the Property Appraiser’s Office nearest you for questions or assistance.

	Sue Brite, REALTOR®
	Coldwell Banker Residential Real Estate, Inc.
7347 52nd Place East, Bradenton, FL 34203
Direct: 941-780-5599
Toll-Free: 888-292-0228 / Office: 941-739-6777
Fax: 941-739-6670
E-mail: Sue@SueBrite.com