I want to remind everyone who has bought a home in 2014 to file for Florida homestead property tax exemption. If you own your home and it’s your primary residence, you may be entitled to a homestead exemption, which can save you around $750 and offer other benefits/protection.
The deadline to file an application for 2015 is March 2, 2015.
You must meet the following requirements as of January 1 of the year you are filing (for example, if you purchased a home in 2014 and live in it as of January 1, 2015, you now qualify).
(1) You have the title to the home, as recorded in Orange County Official Records.
(2) You live in this home.
(3) You are a permanent resident of Florida.
(4) You are a U.S. citizen or a Permanent Resident.
You may apply online, by mail, or in person. Use the link below, or call the number below for more information and forms.
Here is the link to the Homestead page of Orange County Public Appraiser’s website:
RICK SINGH, CFA
Orange County Property Appraiser
Attn: Exemption Department
200 S. Orange Avenue Suite 1700
Orlando, FL. 32801
An important benefit of the Homestead Exemption is that the assessed value of your home, which is used to calculate your property taxes, cannot increase more than 3% per year. This offers crucial protection during the years of double-digit skyrocketing home prices. Homeowners with this protection did not see their property taxes go through the roof.
After a homeowner has stayed in a home for many years and enjoyed the capping of assessed value over the years, that homeowner may find him/herself “stuck” in this home and can’t afford the property tax increase if he/she moved to a different home. For this reason, “Portability” was introduced.