The traditional rule is all individuals living in Florida with temporary visas may not be eligible to claim the Florida homestead exemption because their residency is based on a durational, temporary period. However, in 2012, the Florida Supreme Court put this constitutional issue before them in Garcia v. Andonie
How do I Apply for Homestead Exemption in Florida?
In Miami-Dade County, the 2020 Homestead Exemption applications and Portability applications are due on March 2nd. Read our blog below to find out how to apply!
Can my Homestead Assessment Savings be Transferred from my old Property to my new Property?
Imagine being a homeowner in Florida, selling your home and not buying a new home until three years later. Did you know that you were most likely receiving property tax savings at your old property? And better yet, you could have transferred some or all of those savings to your new property if you had just filed a homestead portability application within two years.
Can I lose my Homestead Exemption in Florida?
To qualify for the homestead exemption, a person must meet certain requirements and a person may lose their homestead exemption if the requirements of the statute are not met every year.
How to Choose the Best Location for Your Subsidiary
Business owners want to choose a location that will provide the most economic benefits to the company. To accomplish this goal, it is critical to gather information and research the demographics and economic characteristics of the cities you’re interested in.
Will you lose your Homestead if you go to Jail?
Florida provides homeowners who make their Florida home their principal place of residence with a tax exemption. This exemption is called the Homestead Exemption and has different benefits. The exemption allows homeowners to exempt $25,000 (or $50,000 for married couples) from the taxable value of their home.
How do I Claim the Florida Homestead Exemption?
Florida law allows homeowners who use their Florida home as their residence to claim a homestead exemption. The Florida Constitution provides a tax-saving exemption by reducing the taxable value of real property by up to $25,000, and $50,000 for a married couple. Florida
Mistakes to Avoid when Transferring a Florida Homestead
When setting up an estate plan, it is common for Floridians to have a revocable living trust in which to transfer their Florida homestead. Unbeknownst to many, there may be negative consequences to this transfer, but there are things that can be done to avoid such issues: Transferring the homestead into the trust should not… + Read More…
What is Florida Homestead Portability?
In Florida, the first year a home receives a homestead exemption, the property appraiser assesses it at just value. Now, with that in mind, for each of the following years, the Save Our Homes Amendment (SOH) of the FL Constitution, prevents the assessed value of said homestead property from increasing more than 3% per year… + Read More…