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Fla. tax appraisers record home values on Jan. 1

TALLAHASSEE, Fla. – Dec. 14, 2015 – When someone owns property and makes it his or her permanent residence, the owner may be eligible to receive a homestead exemption up to $50,000. The first $25,000 applies to all property taxes, including school district taxes; the additional $25,000 applies to the assessed value between $50,000 and $75,000 – and only to non-school taxes [Section 196.031, Florida Statutes].
Each Florida county has individual rules on how to apply for a homestead exemption, but Florida statutes impact many of the deadline dates. While some deadlines may have passed, there are sometimes exceptions to homestead tax exemption application dates.
In addition, Florida property owners who moved to a new home in 2015 may be able to “port” all or part of their homestead assessment difference. Since the state caps property tax increases at 3 percent per year, sellers who pay less than their current appraiser tax value can many times enjoy similar savings on their new home.See Save Our Homes Assessment Limitation and Portability Transfer.
For information specific to their county of residence, Florida homeowners should check with their county property appraiser office.
© 2015 Florida Realtors®
Source: Florida Realtors Feed

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