Can I benefit from the property tax exemption?
How can I benefit from the property tax exemption? Until March 1, Florida homeowners have a deadline to claim their property tax exemption. A privilege that comes in handy when everything around you goes up and up, including home insurance.
How does the property tax exemption work?
One of the sources of financing for local governments is the tax on housing. To do this, each year, the value of the property is assessed, and then the tax exemptions are subtracted from the taxable value of the property. The higher the exemption, the less tax will be paid on the property.
To do this, the state of Florida offers a tax exemption of up to $50,000 of the taxable value of the home. Those owners who reside in their main home since January 1 of the fiscal year can benefit from the Homestead Exemption. If the house is rented, then you will not be entitled to said benefit and therefore the tax in its entirety.
The official date to request the exemption is from January 1 to March 1. The easiest way to do this is through the county property assessor’s website. Once there, you will need to enter your property’s folio number and have the following information handy: your social security number, your date of birth, marital status, Florida driver’s license number, and automobile registration, ( both reflecting the subject property address) and, for U.S. citizens, a voter registration record reflecting the property address. If you are a permanent resident in the US, the resident immigration number. How can I benefit from the property tax exemption?
Do not miss the date of making your application. And remember that at Univista Insurance you can get the cheapest home insurance in Florida.