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$25,000 Homestead Exemption

Every person who has legal or equitable title to real property in the State of Florida and who resides on the property on January 1 and in good faith makes it his or her permanent home is eligible for a homestead exemption. If title is held by the husband alone, a wife may file for him, with his consent, and vice-versa. If property is held by the entireties, one spouse may file as agent for the other.

If filing for the first time, be prepared to answer these questions:

1. In whose name or names was the title to the dwelling recorded as of January 1?
2. What is the street address of the property?
3. How long have you been a legal resident of the State of Florida? (A Declaration of Domicile or Voter's Registration will be proof of date before January 1.)
4. Do you have a Florida license plate on your car and a Florida driver's license?
5. Were you living in the dwelling on January 1?

Once your property has been homesteaded, the exemption will be automatically renewed, and your tax savings will continue unless there is a change in your exemption status. Subsequent annual applications for the exemption will be mailed to you in January with instructions on how to renew your exemption status. In most cases, renewal will be automatic with no action required to continue the exemption.

The homestead exemption will benefit you by lowering your annual real property taxes. For example, a home with a $25,000 assessed value and a $25,000 homestead exemption would owe no real property tax. If the assessed value on your homesteaded home is, for example, $200,000, your taxable value, after the exemption, would be $175,000. To accurately compute your tax savings, multiply the tax millage rate for your area times the $25,000 exemption. For example, if your tax millage rate is $20 per $1000 of the assessed value, you would save $500 every year ($20 X 25).

Homesteaded properties also benefit from The Save Our Homes Amendment of the State's Constitution that was approved by Florida voters in 1992 and put into effect in 1995. This amendment places a limitation of 3% on any annual assessment increases on homesteaded properties in Florida.

Property granted homestead will be assessed at full market value (just value) as of January 1 of the year in which the property receives the exemption. In subsequent years, the assessed value of homestead exempt property will not increase more than 3% or the percentage change in the Consumer Price Index, whichever is less. There are exceptions to that limitation, including new construction or additions which are found to have escaped taxation in the past. Also, the limitation does not apply the year following a change of ownership.

$500 Widow’s and Widower’s Exemption

Any widow or widower who is a bona fide Florida resident may claim this exemption. On remarriage, the widow or widower is ineligible for the exemption. A person who is divorced before the spouse's death is not considered a widow or widower.

$500 Disability Exemption

A Florida resident who is totally and permanently disabled may qualify for this exemption.

$5000 Disability Exemption for Ex-Service Member

An ex-service member disabled at least 10% in war or by service-connected misfortune may be entitled to a $5000 exemption on any property owned by the ex-service member.

If filing for the first time, bring proof of your service connected disability: such as, a letter from the United States Veterans' Administration

$500 Exemption for Blind Persons

A Florida resident who is blind may qualify for this exemption. If claiming exemption based on blindness, the applicant must have a certificate of blindness issued by the Division of Blind Services of the Department of Education, the Federal Social Security Administration, or the Veteran's Administration.

Service Connected Total and Permanent Disability Exemption

An honorably discharged veteran with service-connected total and permanent disability may qualify for total exemption of homesteaded real estate used and owned as a homestead, less any portion used for commercial purposes. An existing exemption can be transferred to a new qualifying residence. Application must be made on the new residence and all other criteria met for the continued homestead exemption.

Under certain circumstances the benefit of this exemption can carry over to the surviving spouse.

If filing for the first time, bring proof of your service connected disability: such as, a letter from the United States Veterans' Administration.

Exemption for Totally and Permanently Disabled Persons

1. Real estate used and owned as a homestead by a quadriplegic, less any portion used for commercial purposes, is exempt from taxation.

2.Real estate used and owned as a homestead, less any portion used for commercial purposes, by a paraplegic, hemiplegic, or other totally and permanently disabled person, who must use a wheelchair for mobility or who is legally blind, is exempt from taxation.

A person seeking exemption under number 2 above must meet gross income limitations. Gross income includes veterans' and social security benefits. The gross income of all persons residing in the homestead for the prior year cannot exceed $14,500. However, beginning January 1, 1991, the $14,500 limitation will be adjusted annually. The adjustment will be based on the percentage change in the average cost-of-living index of the immediate year compared with the prior year.

If filing for the first time, a certificate of total and permanent disability from two licensed doctors of this state or from the Veterans' Administration is required.

Sources: Florida Department of Revenue and Hillsborough County Property Appraiser

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