Florida Homestead Exemption

If you’re new to Florida (as I was), you may not know about the “Homestead Exemption”. The Homestead Exemption allows for a reduction of the assessed value of your residential property providing you meet the criteria. The initial reduction amount is $25,000 dollars. If your assessed property value is more than $50,000, you’ll get an additional $25,000 dollar reduction (for a total of $50,000). 

The one tricky part is that when you buy your home, you’re not automatically enrolled to receive this benefit. If you don’t apply, you don’t get it. Some people, like myself, learned that the hard way. The good news is that once you apply, you don’t have to reapply each year. The exemption will stay until there is a title change.

All applications for the Homestead Exemption must be received by close of business on March 1st of the year you are seeking the exemption. If you apply in Jan or Feb, that application will be for the current year.

To qualify: If married, the following is required for you and your spouse:

• Recorded deed or tax bill for the real property to be homesteaded, which reflects the applicant as the owner on or before January 1st of the year for which an application is being filed.
• Florida driver’s license.
• Florida vehicle registration.
• Social security number for the applicant and his/her spouse.
• Pasco County Voter Registration card.
• If not a U.S. citizen, a permanent visa and a declaration of domicile. A declaration of domicile may be obtained through the Clerk of the Circuit Court.
• Mobile home registration or title, if your mobile home needs to be declared as real property.

It’s a hassle, but it’s well worth the trouble.