Local Option Homestead Exemption for Limited-Income Seniors

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State

Florida

Year

2021

Variations in Receipt of Benefit

No Variation in Receipt of Benefits

Benefit Type

Exemption

Benefit

A county or municipality may provide additional exemptions. Both options may be available to those with limited income. This option is to provide an addition exemption up to $50,000 for those with limited income. The exemption does not apply to school levies. The exemption is applied after statewide homestead exemptions.

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

Other Criteria

Description of Eligibility Criteria

Property owner must be 65 years of age or older as of 1st January 2021, and must have 2020 income of not to exceed $31,100 for relief in 2021, and must be a permanent Florida resident and property qualify as a homestead.

Local Option in Adoption of Program

Local government must take action to opt in

Local Option Regarding Program Features

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

FL107_RR21

Footnotes

The ordinance requires a taxpayer claiming the exemption to annually submit a sworn statement of household income, on a form prescribed by the Department of Revenue, to the property appraiser not later than March 1st. The income limitation shall be adjusted annually on January 1st by the percentage change in the average cost-of-living index, determined by the state. A homestead damaged by misfortune or calamity that is uninhabitable on January 1st 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, 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, Florida Property Tax Valuation and Income Limitation Rates
[http://floridarevenue.com/property/Documents/AdditionalHomesteadExemptions.pdf Accessed on 01/14/2022]
View Archived Source

Florida Department of Revenue, Original Application for Homestead and Related Tax Exemptions
[http://floridarevenue.com/property/Documents/dr501.pdf Accessed 01/14/2022]
View Archived Source
Florida Department of Revenue, Property Tax Oversight (2021)
[https://floridarevenue.com/property/pages/forms.aspx Accessed 01/14/2022]
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-homestead-exemption-limited-income-seniors-florida-2021 Lincoln Institute of Land Policy and George Washington Institute of Public Policy. (Local Option Homestead Exemption for Limited-Income Seniors; accessed: 11/29/2023 02:39:12 PM)

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