Florida Homestead Exemptions provide significant tax discounts for US Citizens and residents that own property in the United States that are classified as their “homestead”. Property owners who can provide proof of residency including:
- Warranty Deed
- U.S. Passport or Residency Card
- FPL or Water bill showing you reside in the home
become eligible for such exemptions that can include:
- Regular Exemption for $50,000.00
- Senior Citizen Exemption
- Low Income Exemption
Moreover, the Homestead Exemption not only gives a significant tax discount but also caps the tax increases from year to year at no more than 3% of the prior years tax. This cap continues year to year as long as the homeowner homestead automatically renews because the owner continues to reside in the property as their “primary residence”.
The deadline for filing is March 1, 2016.
- Several locations are available including:
- John F. Kennedy Library in Hialeah
- West Dade Regional Library in Westchester
- South Dade Government Center in Cutler Ridge/Homestead
- McDonald Center in North Miami Beach
Or you can call us to learn all about the exemptions available to property owners.
For more information, speak to real estate attorney Jacqueline Salcines, PA, today. She holds a dual degree in both accounting and law and can provide both tax and legal advice. The first consultation is always free of charge. Or email attorney Jacqueline Salcines directly your real estate question at J.Salcines@salcineslaw.com