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

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State

Florida

Year

2021

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 as determined in the first tax year that the owner applies. The exemption is for those taxes for the entities that have adopted this exemption. It does not apply to school district levies.

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

The applicant must be at least 65 years of age on 1st January of the year of application. In addition the household adjusted gross income cannot exceed $32,561 in 2021 to apply in 2022 and the just value of the property must be less than $250,000 in the initial year of the application. The applicant must have maintained permanent residency on the property for no less than 25 years.

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_RR21

Footnotes

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 1 March. The income limitation shall be adjusted annually on 1 January by the percentage change in the average cost-of-living index. The homeowner must have legal title or beneficial title in equity of the property, and they also must make a good faith effort to make the property their permanent residence. The homestead exemption does not extend to residents claiming permanent residence in other states. 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 2021)
Source Constitution: 
Fla. Const. Art. VII §6(d)
Florida Department of Revenue, Florida Property Tax Valuation and Income Limitation Rates
[http://floridarevenue.com/property/Documents/AdditionalHomesteadExemptions.pdf Accessed on 10/31/2022]
View Archived Source

Florida Department of Revenue, Adjusted Gross Household Income Sworn Statement and Return
[http://floridarevenue.com/property/Documents/dr501sc.pdf Accessed 10/31/2022]
View Archived Source

Florida Department of Revenue, Original Application for Homestead and Related Tax Exemptions
[http://floridarevenue.com/property/Documents/dr501.pdf Accessed 10/31/2022]
View Archived Source

To reference this webpage/table, please use the following citation:

Significant Features of the Property Tax. https://www.lincolninst.edu/residential-tax-relief/local-option-additional-exemption-low-income-seniors-long-term-residency-8 Lincoln Institute of Land Policy and George Washington Institute of Public Policy. (Local Option Additional Exemption for Low-Income Seniors with Long-Term Residency; accessed: 11/29/2023 02:30:15 PM)

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