Variations in Receipt of Benefit : Benefit:
No Variation in Receipt of Benefits
How is Benefit Disbursed:
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.
Characteristics of Eligible Property:
Exemption from assessed value
Description of Eligibility Criteria:
Only residential property is eligible for this program.
Local Option Regarding Program Features:
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.
Description of Local Option Regarding Adoption or Program Features :
No local option regarding program features
State Funding for Local Tax Loss:
The ordinance must be adopted by a majority plus one.
Description of State Funding for Tax Loss:
Local government covers all of its tax loss
Local Option in Adoption of Program :
State statutes do not provide for state funding for local tax loss.
Source State Statutes:
Local government must take action to opt in
Fla. Stat. § 196.075 (in effect for 2021)
Fla. Const. Art. VII §6(d)