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A Constitutional benefit of up to $50,000, available to bona fide Florida residents who live in, and claim a residence as their permanent and primary home on January 1, and file an application with the Property Appraiser's Office prior to March 1. It exempts the first $25,000 and applies to the Assessed Value of all taxing levies. The second $25,000 applies to the Assessed Value beginning at $50,000 up to $75,000, of all taxing levies with the exception of the School District.

The exemption amount is incremental, depending on the Assessed Value of the property.

• If your Homestead property has an Assessed Value of up to $50,000, you will keep the current exemption of $25,000.
• If your Homestead property has an Assessed Value of $50,001 through $74,999, the additional homestead exemption will increase up to $24,999.
• If your Homestead property has an Assessed Value of $75,000 or more, you will receive the full additional $25,000 Homestead Exemption.

The additional exemption applies to all taxing levies with the exception of the School District.

 

	HOME #1	HOME #2	HOME #3
Assessed value	$45,000	$55,000	$75,000
Minus current exemption	-25,000	-25,000	-25,000
Minus additional exemption	0	-5,000	-25,000
Equals taxable value	$20,000	$25,000	$25,000

Will I Lose My Homestead Exemption and Save Our Homes Cap if I add someone to my deed?
 
Adding names to the ownership of your home normally does not change your $25,000 Homestead Exemption, BUT you may lose all or part of the protection your property receives from the Save Our Homes (SOH) assessment limitation or “cap”.  The SOH cap keeps the assessed value of your home from increasing more than 3% per year on existing improvements as long as you maintain your Homestead Exemption.  A loss of protection from the SOH cap will increase the amount of property taxes you pay. 
 
You may lose your Save Our Homes Cap, depending on how you own the property (the “tenancy”), and if the new owner files for Homestead Exemption on your property.  “Tenancy” is the term used to describe the way property is owned, the relationship between the owners, and what happens to the property when an owner dies. The most common forms of tenancy are:  tenancy by the entireties (husband & wife), joint tenants with right of survivorship, and tenants in common.  If two or more people own property with a Homestead Exemption, the type of tenancy that appears on the deed can have an effect on the “Save Our Homes” provision, and ultimately the amount of taxes that are owed.
 
If the new owner is your spouse, or someone who is legally or naturally dependent on you, he or she must apply for homestead exemption.  Your current Save Our Homes cap will not be adjusted.
 
Joint Tenants with Right of Survivorship: 
If the new owner is a joint tenant with right of survivorship, and he or she DOES NOT apply for Homestead Exemption, your SOH cap WILL NOT be adjusted. 
If the new owner is a joint tenant with right of survivorship and DOES apply for Homestead Exemption, your SOH cap WILL be adjusted to market value and start new the following year. In future years, the SOH Cap will protect 100% of the Homestead property.

One Important Note!  If the new owner is living with you and intends to make the property his or her permanent residence, it may make more sense to apply for the new Homestead Exemption now rather than waiting until a later date.  Your Homestead Exemption and SOH cap protects only you, and not the new owner.  In the future if you no longer reside in this home, the new owner will have to apply at that time, and the property value and taxes may be much higher than they are now. 
 
 
Tenants in Common
If the new owner is a tenant in common and DOES NOT apply for Homestead Exemption, your SOH cap WILL BE adjusted to protect only your proportionate or “percent” interest in the property. The “percent” interest of any owner who does not have homestead exemption will be assessed at market value each year.  If the new owner DOES apply for Homestead Exemption, your SOH cap WILL BE adjusted to market value and start new the following year.

Can I “undo” or cancel a deed that is already recorded?
           
If the wording of your current deed has consequences that you did not intend, you may want to consider a corrective deed.  Please consult an attorney, Title Company, or other real estate professional to help you prepare your corrective deed.   The Property Appraiser’s office cannot advise you, since there are many serious considerations that go beyond how Homestead Exemption is calculated, including income and estate tax consequences. We recommend that you never attempt to change your deed without the help of a professional.
 
Are there other ways of transferring my property for estate planning that will not disturb my Homestead Exemption or SOH Cap?
 
Two methods of transferring your property will, in most cases, keep your Homestead Exemption and SOH intact: reserve a Life Estate for yourself or transfer your property to your trust. Please consult your attorney or estate planning professional before attempting either option.
 
If you transfer your property to a trust, your attorney should know that three criteria are required in order for your Homestead Exemption and SOH cap to remain intact:
 

• You as the homestead owner must have beneficial or equitable title to real property.  In other words, you must be the trustee or beneficiary of the trust.  If you are the beneficiary but not the trustee, your interest must be in REAL property, not PERSONAL property. 
• You must have the present possessory interest in the property. Simply, you must have the right to live there.
• The deed that transfers the property into the trust must be recorded with the correct verbiage indicating Equitable Title to Real Estate.

 
Can my attorney contact you if he or she needs to?
 
Absolutely!  You, your attorney or estate planning professional are encouraged to call our Public Services  Department with any questions you may have.  We can be reached at (352) 754-4190.
 
 

Residents who have legal or equitable title to property, occupy, and make it their permanent and primary residence as of January 1 and are not receiving a residency based tax benefit or exemption on any other property in any other state or jurisdiction.

A husband and wife are considered a Family Unit and can only claim one home as their permanent and primary residence.

Please click here to view qualification requirements.

1. Rent your property either yearly or seasonally except as noted in F.S. 196.061 that states such abandonment of the homestead after January 1 of any year does not affect the homestead exemption for tax purposes for that particular year unless the property is rented for more than 30 days per calendar year for 2 consecutive years.
2. Maintain or obtain an out-of-state residency based tax exemption, reduction, benefit, credit, etc. This requirement applies to jointly or individually held property by husband and wife even if only one applies for homestead here and the other applies or is receiving out-of-state tax credit. If you are in this category presently, you and your spouse must cancel your out-of-state tax benefit effective January 1 of the year you apply for homestead exemption here. If either husband or wife own other Florida property, even individually, only one property can have the homestead exemption.
3. Maintain or obtain a Driver License in any other state. A Driver License is residency based.
4. None of your vehicles are registered in Florida.
5. You are registered to vote elsewhere. As a Hernando County resident, this county must be the only place you are registered to vote. You may elect to file a Declaration of Domicile instead of registering to vote, but you still may not register to vote elsewhere.

We want all residents who qualify to have and keep their Exemption(s). This checklist is provided to avoid a lien being filed against your property which may result in back taxes, penalties, and interest charges.
 

If title to the property on which you are applying is held in a trust, see your attorney for specific verbiage granting a beneficial interest for life, such interest being declared to be "equitable title to real estate".

Per Florida Statute 196.041 (2) A person who otherwise qualifies by the required residence for the homestead tax exemption provided in s. 196.031 shall be entitled to such exemption where the person's possessory right in such real property is based upon an instrument granting to him or her a beneficial interest for life, such interest being hereby declared to be "equitable title to real estate," as that term is employed in s. 6, Art. VII of the State Constitution; and such person shall be entitled to the homestead tax exemption irrespective of whether such interest was created prior or subsequent to the effective date of this act.

Once the application is timely submitted to the office with all required proof of residency documents, the office begins the process of verifying exemption eligibility of the applicant to insure compliance with State law. If the application is approved, the exemption will be automatically renewed every year and will be reflected on the Notice of Proposed Taxes (TRIM) that is mailed every year in August. If the applicants residency status changes in any manner, it is up to the property owner to contact this office and cancel their exemption.

If the applicant(s) is not entitled to the exemption and the exemption is denied, a Notice of Disapproval of Application for Property Tax Exemption will be mailed prior to July 1st providing the specific reason for the denial.  If you disagree with the denial, you may file an appeal with the Value Adjustment Board by the 30th day after the mailing of the denial notice.   

No, exemptions are not transferable. You must make a new application if you received an exemption last year but established a new residence as of January 1.