Deadline For Homestead Exemptions is March 1

22 02 2004

Florida home buyers who purchased homes in 2003 should make sure they apply for the $25,000 homestead exemption before March 1, according to the Florida Association of Realtors.

Any Florida property owner with legal title to a home and who uses it as his or her permanent, primary residence by Jan. 1 is eligible for the exemption.

Generally the homestead exemption is a $25,000 deduction from a home’s assessed value (as determined by the county property appraiser.) Take the home’s assessed value, minus $25,000, and then apply the local millage rate to calculate the property taxes due.

Homeowners making their first claim have to go to their respective county property appraiser’s office, bringing along the deed to their property or a property tax bill — something to show they own the home.

Property appraisers’ offices will accept applications for homestead exemption until the March 1 deadline.

Once a homeowner has applied for and received a homestead exemption, it will be automatically renewed for that property each year on Jan. 1.



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