If you purchased a home last year that you resided in as of January 1, 2020 with the intent of making it your residence for 2020, and you have not already filed for your Homestead Tax Exemption, now is the time to take advantage of the savings on your real estate tax bill. Of greater importance, however, is by qualifying for the Homestead Tax Exemption on your home, you also qualify for the Save Our Home 3% cap on the taxable assessment increase on your home each year!
The Property Appraiser of each county in Florida has a friendly online process for filing the necessary Homestead Tax Exemption application and submitting the required documentation to qualify. In addition, you may visit your county’s Property Appraiser’s office and they will be happy to guide you through the process.
Remember though, the deadline for filing for Homestead Tax Exemption for 2020 is March 2, 2020.
If you have any questions, don’t hesitate to contact one of our Real Estate lawyers and they will be happy to discuss with you the filing process for the Homestead Tax Exemption of your home.
– Philip J. Morgan, Board Certified Real Estate Lawyer
Philip J. Morgan is a Florida Bar board certified specialist in real estate law, concentrating his practice on commercial and residential transactions and the title insurance of those matters. He focuses primarily on working with lenders to successfully close commercial loans secured by real estate or other assets, in addition to loan workouts and foreclosures. He can be reached at 954.522.2200.