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A Fantastic Way to Save Money on Your Taxes
Manage episode 167466906 series 1256107
Innhold levert av Dan and Michael Nathanson and Michael Nathanson. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Dan and Michael Nathanson and Michael Nathanson eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
We explain a homestead exemption and let you know how it’s going to save you money this year.
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Buying a home? Search all homes for saleIt’s property tax time, and if you haven’t gotten your bill yet, it’s probably on the way. We’re here to tell you about an easy way to save money this year, filing a homestead exemption.
What is a homestead exemption? The state of Florida grants a standard $25,000 exemption of the assessed value of your primary residence. In fact, there is an additional exemption up to an additional $25,000 that may also apply.
Who is eligible for a homestead exemption? Only permanent Florida residents who own the property and use it as their permanent primary residence can file for a homestead exemption. Make sure the address of the home you are filing for matches your voter registration, driver’s license, income tax return, and all other important documents. It is important to note, however, that if you or your spouse are already getting a residence-based exemption in another county, state, or country, you are not able eligible to receive a homestead exemption.
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How do you apply for a homestead exemption? There are a couple ways. Either go to the state or the appropriate county property appraiser’s website and find the link to download the application, or reach out to us! We would be happy to help you file.You could save up to $725 a year.
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One of the best parts of a homestead exemption is the “save our homes” portion. This portion states that after the first year a home has received a homestead exemption and fair market value is assessed, the assessment can’t increase more than 3% the following year.
You could save up to $725 a year just by filing one paper, and you only have to file once!
To find out more about a homestead exemption: or other exemptions that will help you save money, such as active duty military and veterans or disability exemptions, feel free to give us a call!
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