Get Your Homestead On!
Do you like money and own a home in Florida? Yes?
This post is for you!
As a Realtor in Florida, it continuously blows my mind how often homeowners aren’t aware of the Homestead exception for their property taxes. If you own your home in Florida, are a full time Florida resident, and have never heard of this, please accept the next couple minutes of wisdom (depending on how fast you read) as my personal gift to you.
“Homestead’ing” your property taxes per Florida Statutes 196.015 and 196.031, basically means that your county’s appraiser will waive $25,000 – $50,000 of taxable value from your tax bill. (For example, if the appraised value of your home is $485,000, you’d only have to pay taxes on$435,000 of that).
To qualify for homestead exemption, you have to be able to say YES to the following criteria:
Are you a Florida resident?
Is your home your primary residence?
Do you have a social security number or permanent resident card?
Do you have a Florida driver’s license or are you registered to vote?
So basically, you qualify for a $50,000 exemption off your property tax bill, if you’re a standard/normal #Juplife homeowner. In Palm Beach County, where we pay 2% of the appraised value in taxes, that is a $1,000 wocket in your pocket every year!
You can file Homestead directly from your county’s property appraiser website. Palm Beach County has a great website and portal to submit the application here.
If you aren’t sure whether or not you have filed this exemption in the past or if you’d like help filling out the application, give me or one of my team members a call! We’ll walk you through it in a jiffy!
The Meyer Lucas Group
(425) 350-7803 | meyerlucas.com