If you’ve recently acquired a home in Florida and missed the Homestead Exemption filing deadline, it could cost you thousands.
All Floridians should be aware of the Homestead Exemption and the Save Our Homes Amendment. As the March 1 annual filing deadline approaches, many homeowners who qualify for these significant tax breaks risk missing out.
New homeowners in Florida should get acquainted with what the laws are, and how they are administered.
Under the Homestead Exemption, Florida law allows up to $50,000 to be deducted from the assessed value of a primary/permanent residence. The first $25,000 of value is entirely exempt. The second $25,000 exemption applies to the value between $50,000–$75,000 and does not include a benefit on the school
