THE HOMESTEAD EXEMPTION DEFINED*
A homestead exemption reduces the taxable value of real property by up to $25,000. It is an ad valorem tax exemption provided by Florida law for qualified residents who own and reside on the property as their permanent residence. Properties that receive the homestead exemption qualify under the "Save Our Homes" Amendment and may realize additional benefits.
WHO IS ENTITLED TO HOMESTEAD EXEMPTION?
Florida statutes set firm requirements for persons receiving the valuable homestead exemption. The following criteria will help you determine if you may qualify for an exemption. If you still have questions about your eligibility, please call the Property Appraiser's Office.
Individuals only are eligible for homestead exemption; corporations or business entities do not qualify.
Your deed or document establishing your ownership or beneficial interest as of January 1 must be recorded in Sarasota County Public Records before your exemption can be approved. Without this evidence, your Property Appraiser's Office is prohibited by state regulations from granting the exemption.
As of January 1 of the year for which you are filing: - You must be a permanent resident of Florida; - You must own and occupy the property as your permanent residence; - You must hold title or beneficial interest to the property.
WHERE, HOW & WHEN TO APPLY
It is not necessary to file an application every year as long as the property's use and your ownership and Florida residency do not change. The following instructions apply to original applications for homestead and other exemptions:
Where
You may request or pick up an application from one of our offices listed at the end of this link.
How
You are required by Florida law to sign and file a new application for homestead exemption in person at our office. If you prefer, you can pick up a form and complete much of the requested information in advance at your convenience, but you must sign and file in our office. Please call our office well in advance of the filing deadline if you have physical limitations that prevent you from coming to our office.
When
You may file a new application for homestead exemption no later than March 1 of the year for which the exemption applies. If March 1 falls on a weekend or holiday, the deadline is the next business day. We encourage you to file your application as soon as you complete the qualifying transaction to minimize the risk of missing the March 1 deadline that is set by Florida law.
INFORMATION YOU NEED TO BRING
Filing for homestead exemption is made easy with a few simple steps and the correct documents. We are required by state law to examine proof that you own the property and that you and any other owners who occupy the property are Florida residents. You can help speed up the process and avoid making unnecessary trips by being prepared with the following information:
Proof of Ownership
Any of these items can be presented; all are not required. Please remember that your deed or document granting beneficial interest must be recorded in Sarasota County Public Records before the exemption can be approved.
Deed to property Property tax bill Title insurance Agreement or contract for deed Co-op proprietary lease Last will and testament TRIM Notice (Notice of Proposed Property Taxes) Trust agreement showing beneficial interest or equitable title
Proof of Florida Residency
All owners who occupy the property are asked to show evidence of Florida residency as of January 1. The items most often presented are a Florida driver's license and a Florida voter's card.
In addition, one or more of the following items may be requested:
Florida vehicle registration Declaration of Domicile dated prior to January 1 Previous year's income tax return filed from a Florida address Registration from your child's school Previous filing of a Florida Intangible Tax return Professional license issued by state of Florida, i.e., doctor, teacher, attorney, etc. Employer's statement Proof of your marital status Previous year's filing for another property in Florida
Your Social Security Number
Florida law makes this a mandatory requirement for every applicant. Married persons are required to present Social Security numbers for both spouses even when property is titled in one name.
A Permanent Visa Card (for resident aliens)
A temporary visa card, with official assurance that permanent residence status is approved, can also be accepted.
THE "SAVE OUR HOMES" AMENDMENT
Florida voters in 1992 approved Constitutional Amendment 10, known as the "Save Our Homes" Amendment. The amendment, which affects homestead exempt property, limits the yearly assessed value increases to no more than 3 percent of the prior year's assessment or the percentage change in the Consumer Price Index, whichever is less, but never more than the current year's just (market) value.
The amendment's limits become effective in the year following the exemption approval and apply as long as you continue to own and reside on the property as your permanent homestead. If you sell or transfer title to your property, it will be assessed at market value. (Transactions between husband and wife do not negate the amendment's benefits.) If you make changes, additions or improvements to property receiving the homestead exemption, the changes will be assessed at market value even though the amendment continues to apply to the original assessment.
* Material obtained from Sarasota County Property Appraiser |