Local Option Additional Exemption for Low-Income Seniors with Long-Term Residency

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State

Florida

Year

2017

Variations in Receipt of Benefit

No Variation in Receipt of Benefits

Benefit Type

Exemption

Benefit

The benefit is an exemption equal to the assessed value of the property for a person who has a title to a real estate with a just value less than $250,000. This is a full exemption of assessed value by the municipal taxing authority that is levying its share of property taxes due and is often a full exemption of the ad valorem taxes due.

How is Benefit Disbursed

Exemption from assessed value

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property is eligible for this program.

Eligibility Criteria

Age

Homeowner

Income Ceiling

Principal Residence

Property Value Limit

Other Criteria

Description of Eligibility Criteria

Individuals must fulfill the requirements set forth in the Local Option Homestead Exemption for Limited-Income Seniors program. These requirements and others are detailed as follows: are at least 65 years of age on 01 January of the year for which the application for exemption is made; annual household adjusted gross income for the prior year does not exceed $28,841; have maintained permanent residency on the property for no less than 25 years (uninterrupted); have an existing homestead exemption on the property; just value of the property on record with the Property Appraiser's Office must be less than $250,000 for the initial year of the application.

Local Option in Adoption of Program

Local government must take action to opt in

Local Option Regarding Program Features

No local option regarding program features

State Funding for Local Tax Loss

Local government covers all of its tax loss

Description of State Funding for Tax Loss

State statutes do not provide for state funding for local tax loss.

Record ID

FL109_RR17

Footnotes

Effective 1 January 2017 the value of the property must be less than $250,000 which will be determined in the first year the tax owner applies and is eligible for exemption. Previously, the value of $250,000 had to be maintained and was not just based on the first year of eligibility. Therefore, those who were previously denied due to a raise in property valuation can now reapply for the exemption in subsequent years, regardless of the current just value of his or her homestead property. This was enacted by 2016 Fla. Laws ch. 16-121 § 1. The ordinance requires a taxpayer claiming the exemption to annually submit a sworn statement of household income prior, on a form prescribed by the Department of Revenue, to the property appraiser not later than March 1. The income limitation shall be adjusted annually on 01 January by the percentage change in the average cost-of-living index. A homestead damaged by misfortune or calamity that is uninhabitable on 1 January may qualify for the exemption if (a) the homeowner is otherwise qualified for a homestead exemption and (b) the homeowner intends to rebuild or repair the property within 3 years. Failure to rebuild or repair within 3 years constitutes an abandonment of the property as a homestead.

Sources

Fla. Stat. § 196.075 (in effect for 2017)

Source Constitution:

Fla. Const. Art. VII §6(d)

Florida Department of Revenue, Adjusted Gross Household Income Sworn Statement and Return, (2017)
[http://floridarevenue.com/property/Documents/dr501sc.pdf Accessed 09/27/2018]
View Archived Source

Florida Department of Revenue, Florida Property Tax Valuation and Income Limitation Rates
[http://floridarevenue.com/property/Documents/AdditionalHomesteadExemptions.pdf Accessed on 07/16/2018]
View Archived Source

Florida Department of Revenue, Original Application for Homestead and Related Tax Exemptions, (2017)
[http://floridarevenue.com/property/Documents/dr501.pdf accessed 07/16/2018]
View Archived Source

2016 Fla. Laws ch. 16-121 § 1.

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