Homestead Tax Deferral

State

Florida

Year

2015

Variations in Receipt of Benefit

Benefit Varies with Income

Other Variation in Receipt of Benefits

Benefit Type

Deferral

Benefit

Homeowners eligible for the homestead exemption may defer a portion or all property tax due. For a claimant 65 or older with a household income below $28,448 (in 2015), all property taxes can be deferred. For those with income above this limit, taxes in excess of 3% of their income can be deferred. For claimants under 65, if household income is less than $10,000, the total amount due can be deferred. For those with income above this level taxes, in excess of 5% of household income can be deferred.

How is Benefit Disbursed

Other

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property is eligible for this program.

Eligibility Criteria

Age

Homeowner

Principal Residence

Description of Eligibility Criteria

A permanent resident of Florida may elect to defer payment defer the portion of property tax.

Local Option in Adoption of Program

Local government is unable to exercise an option

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

Record ID

FL105_RR15

Footnotes

Sources

Fla. Stat. § 196.031; Fla. Stat. § 196.075; Fla. Stat. § 197.252 (in effect for 2015)
Florida Property Tax Valuation and Income Limitation Rates
[http://dor.myflorida.com/dor/property/resources/limitations.html Accessed on 04/14/2016]
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