It’s Homestead Application Time Again in Florida!

by | Feb 23, 2017 | Real Estate Financial Help

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All legal Florida residents are eligible for Homestead Exemption on their homes, condos, co-op apartments, and certain mobile home lots if they qualify.

A Florida resident is entitled to receive Homestead Exemption on a property if, as of January 1st, that property is the resident’s permanent home. Permanent residence is determined by January 1st of each year.

The timely filing period for Homestead Exemption for 2017 ends on March 1, 2017. The absolute deadline for late filing for any 2017 exemption (if you miss the March 1st filing deadline) is September 18th. State law ( Sec. 196.011(8), Fla. Stat.) does not allow late filing for exemptions after this date, regardless of any good cause reason for missing the late filing deadline.

Below is the information you will need when filing for Homestead Exemption:

  1. Proof of Ownership: In general, the recorded Deed or Co-op Proprietary Lease must be held in the name(s) of individuals applying for Homestead. If the property is held in a trust, a copy of the trust agreement or certificate of trust is required.
  2. Proof of Permanent Florida Residence – preferably dated prior to January 1st of the tax year for which you are filing – is established in the form of:
  • Florida’s Driver’s License is required. You also have to have either a Florida Voter Registration or Recorded Declaration of Domicile
  • For Non-US Citizens, you must have the items listed above and proof of permanent residency, asylum/parolee status or proof you are the parent of a US-born child ho resides with you.

A property with Homestead Exemption receives a reduced value for real estate property taxes. In addition, the constitutional homestead protections afford the owner protection from forced sale to meet the demands of creditors. There are however some exceptions to the constitutional homestead protections, such as parties to whom the property was pledged as collateral for a mortgage.