Filing for your homestead exemption is one of the best parts about homeownership. Today I’m going to explain why.
If you’re currently living in a home that you’ve purchased and that home is also your primary residence, you need to make sure you file for your homestead exemption. If you’ve done so already, you don’t need to do it again. However, if you purchased a new home in Florida in 2017 and it is your permanent residence, you may be eligible for a Homestead Exemption, which could result in savings on your property taxes. The homestead exemption protects your property taxes from going up more than 3% in a given year. If you don’t have the exemption filed, you’re at the mercy of the market.
If you sold your Florida homestead property last year and purchased a new homestead property in Florida, you may be eligible to transfer up to $500,000 of the Save Our Homes benefit from your prior homestead property to your new one with Portability.
For more information on Homestead Exemptions and Portability and how to apply, visit your county property appraiser’s website for more information:
If you have any other questions for me about this topic or anything else related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.