Florida residents can file for a homestead exemption on their primary residence as a means to reduce property taxes.
What is the Florida Homestead Exemption?
- By filing for the Homestead Exemption, it can result in exempting up to $50,000 of your home’s assessed value from property tax liability.
- The first $25,000 of the home’s assessed value is exempt from all property taxes including school district taxes. If the home’s assessed value is above $50,000 the assessed value from $50,000 -$75,000 is exempt from all non-school property taxes.
- In addition to the property tax exemption, homesteaded properties cannot have their assessed value increase by more than 3% annually.
How to Qualify
- The person applying must be an owner of the property and be able to prove that the property they are applying to have homesteaded is their permanent residence.
- You must have lived at the property on January 1 of the tax year in question. For instance, if you hope to claim the homestead exemption on your 2022 property taxes, you must have lived at the property on January 1, 2022.
How to Apply
- You will want to start the process of becoming a Florida resident as soon as possible.
- You will need to have documents to prove your Florida residency at the time you apply for the homestead exemption.
- Items you will want to complete and have in place at time of application:
- File a Florida Declaration of Domicile in the office of the clerk of the circuit court for the county in Florida in which you reside.
- Obtain a Florida driver’s license with your Florida address.
- Transfer the title of your automobiles.
- Register for a Florida Voters ID.
- Provide Proof that residency has ended in a previous place of residency outside Florida.
- Have a bank and/or investment account statement with the Florida address.
- Proof of utility payment at the new address you want to homestead with your name on the bill.
- To receive the homestead deduction for your Florida property taxes, you have to fill out an application form (Form DR-501) and demonstrate proof of residence by March 1 of the year for which you wish to qualify. For example, to qualify for the Florida Homestead Exemption on your 2022 taxes, you must have filed this paperwork by March 1, 2022. There are two ways in which the form can be completed:
- Go to https://www.pbcgov.org/papa/homestead-exemption.htm. Complete the form online and select the state’s e-file option.
- Print the form, fill it out, and mail it to Palm Beach County Property Appraiser’s Office, Exemption Services, 1st Floor, 301 N. Olive Ave., West Palm Beach, FL 33401.
- When you are completing the form, you will be asked to provide documents for proof of your Florida residency as listed above..
Once your property is homesteaded, it will renew automatically so long as you continue to qualify for the exemption.