HOMESTEAD INFO

Homestead Exemption

***This information is being provided as a courtesy to you, so if you require additional information such as qualifications, applications, or questions please call your County Appraiser’s office we will not be able to provide any further assistance.***

All legal Florida residents are eligible for a Homestead Exemption on their homes, condominiums, co-op apartments, and certain mobile home lots if they qualify. The Florida Constitution provides this tax-saving exemption on the first and third $25,000 of the assessed value of an owner/occupied residence. While a complicated formula is used to explain this -- as the additional $25,000 only applies to some of the taxing authorities -- the bottom line is that the basic homestead exemption is worth approximately $800 in annual tax savings for all homes with a value of $75,000 or higher. You are entitled to a Homestead Exemption if, as of January 1st, you have made the property your permanent home or the permanent home of a person who is legally or naturally dependent on you. By law, January 1 of each year is the date on which permanent residence is determined.

You may file for Homestead ONLINE if your county provides a website that you can apply online.

For Broward County Residents you can apply online by going to http://www.bcpa.net/homestead.asp and follow their instructions.

For Palm Beach County Residents you can apply online by going to https://secure.co.palm-beach.fl.us/PAPAeFile/web/HEApplication/Login.aspx and follow their instructions.

For Miami-Dade County Residents you can apply online by going to http://www.miamidade.gov/pa/exempt_homestead.asp and follow their instructions.

For any other County in the State of Florida please check with your county’s Appraiser’s office.

For Most Counties in the State of Florida

The timely filing period for Homestead Exemption for 2010 is: March 3, 2009 through March 1, 2010. However, you may still late file for 2009 exemptions until the September 18, 2009 TRIM Notice filing deadline.

Due to a 2009 change in state law there is no longer any cost nor additional paperwork required to late file for Homestead and other exemptions so long as you do so by the September deadline.

What You Need When Filing for Homestead

When filing an application you must bring the following items listed below.

To claim 100% coverage, all owners occupying the property as Tenants in Common (i.e., proportional share co-owners) must file in person on jointly held property. In the case of a husband/wife ("Tenants by the Entirety") or Joint Tenants with Right of Survivorship ("JTRS"), any one owner may qualify for 100% coverage -- although it is always highly advisable to have all eligible owner-occupants to file. If you are married and the Deed has different last names for a husband and wife, a marriage certificate must be presented if the deed does not indicate the two co-owners are "husband and wife."

1. Proof of Ownership: In general, the recorded Deed or Co-op Proprietary Lease must be held in the name(s) of the individuals applying for Homestead. You do not need to bring a copy of the deed or co-op lease if the document has already been recorded in the Official Records of the County. If the PROPERTY IS HELD IN A TRUST, WE ALSO NEED EITHER A NOTARIZED CERTIFICATE OF TRUST OR A COMPLETE COPY OF THE TRUST AGREEMENT.

Note: Most taxpayers prefer to use the simple Certificate of Trust form, instead of submitting the entire trust for our review, as it better protects the privacy of your estate planning and other financial matters.

2. Proof of Permanent Florida Residence -- preferably dated prior to January 1 of the tax year for which you are filing -- is established in the form of:

A. FOR ALL APPLICANTS: Florida's Driver's License (or -- for non-drivers only -- a Florida I.D. Card) is REQUIRED. Note: "Valid Only in Florida" driver license is not acceptable. You must ALSO have either one of the following:

1. Florida Voter's Registration; or

2. Recorded Declaration of Domicile.

B. FOR NON-US CITIZENS, you must have the items listed above AND proof of permanent residency, asylum/parolee status (or other "PRUCOL" status).

3. If you or your married spouse have a Homestead Exemption in any other county, state or country (or an equivalent permanent residency-based exemption or tax credit, such as New York's "S.T.A.R." exemption) on another property you also currently own, you will not be eligible for a homestead in that county until after you surrender the exemption in that other jurisdiction. The State-approved application form requests certain information for all owners living on the premises and filing:

Current employers of all owners
Addresses listed on last I.R.S. income tax returns.
Date of each owner's permanent Florida residence.
Date of occupancy for each property owner.
Social Security numbers of all owners filing (plus the Social Security numbers of any married spouses, even if not named in the deed).

Note: The amount of the homestead exemption protection granted to an owner residing on a particular property is to be applied against the amount of that person's interest in the property. This provision is limited in that the proportional amount of the homestead exemption allowed any person shall not exceed the proportionate assessed valuation based on the interest owned by the person. For example, assuming a property valued at $40,000, with the residing owner's interest in the property being $20,000, then $20,000 of the homestead exemption is all that can be applied to that property. If there are multiple owners, all as joint tenants with rights of survivorship, the owner living at property filing receives the full exemption. For any other exemptions instructions or information please check with your County Appraiser’s office.

Homestead Exemptions are NOT transferable... But You Can Move Your Savings with Portability AND a new Homestead Application

Homestead Exemption does not transfer from property to property. If you had this exemption last year on another property and moved, you must file a new application for your new residence. Notify the Property Appraiser to cancel the exemptions on your former home. Property purchased during last year may show qualified exemptions of the seller. The sellers' exemptions will not carry over to this year; you must apply for your own exemptions.Florida voters overwhelmingly approved a new constitutional amendment in January 2008 which grants added tax relief to property owners. The amendment gives homesteaded owners the "portability" right to move Save Our Homes benefits to a new homesteaded property. If you had homestead on one Florida property in 2007 (or later) and are now seeking to move your homestead to a new location for 2008 or 2009: please check with your Appraiser’s office for applications and information.

Late Filing for Homestead If You Missed the March Deadline:

You may still late file for 2009 exemptions until the September 18, 2009 TRIM Notice filing deadline. Due to a 2009 change in state law there is no longer any cost nor additional paperwork required to late file for Homestead and other exemptions so long as you do so by the September deadline.

Receipts, Renewals, and Changes that Cause Ineligibility.

After your initial application for the Homestead Exemption has been made and the exemption has been granted, a receipt will be mailed to you each year in early January to verify that the status, use and ownership has not changed. If you do not receive this renewal receipt from us by March 1, failure to contact this office may result in the loss of your Homestead Exemption for the yearA new application is required if your property has been sold or otherwise disposed of, or the ownership or use changes, or when the holder(s) of the Homestead Exemption ceases to reside on the property as a permanent resident. This annual Homestead Renewal Receipt does not pertain to any of the other exemptions and/or classifications.

If you no longer qualify: The law requires YOU to notify the Property Appraiser's office to remove that exemption by March 1. Strong penalties -- going back as far as ten years of back taxes, plus 50% penalties and 15% interest -- may be imposed on those who do not tell the Property Appraiser to remove exemptions for which they are no longer qualified. Here are a few examples:

If you have rented out your property, you would likely forfeit your right to claim a Homestead Exemption.
If you were receiving a widow's or widower's exemption and remarry, you would no longer be entitled to that exemption.
If the homesteaded owner dies and the property continues to claim the exemption in future years in the name of the deceased owner.
You change your voter registration and driver's license to another residence.
If you or your married spouse is simultaneously claiming homestead (or any other permanent-residency based tax exemption or credit) on any other property anywhere else in the world.

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Office Phone: (954) 755-4663 Fax: (954) 755-8550 Email: info@sgmfl.com

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