• Got the Contributing Memberships stuff finally worked out and made up a thread as a sort of "How-To" to help people figure out how to participate. So if you need help figuring it out, here's the thread you need to take a look at -> http://www.corvetteflorida.com/forums/showthread.php?t=3581 Thank you, everyone! Rich Z.

Alright, Floridians. Somebody 'Splain Homesteading To Me

ChuckG

ChuckG

Retired Florida Geezer
Confusing. :ack2: I've heard about it, even read about it. Don't understand it.

Can somebody explain it to me? What's involved? What are the pre-requisites? How long do you have to live there before you can homestead?

Do you need a bank account? Registered to vote?

What's the benefit?

Inquiring minds want to know. :D

Thank you.

Chuck
 
Hi Chuck and welcome to the state. Heres a link to the Lee County Property Tax site and it has info regarding the Homestead tax. I'm sure it's the same in all counties
http://www.leepa.org/ If you don't see the link, scroll down the left side and you'll find all sorts of info. It's listed under "Exemption Information" :yesnod:
 
ChuckG said:
Confusing. :ack2: I've heard about it, even read about it. Don't understand it.

Can somebody explain it to me? What's involved? What are the pre-requisites? How long do you have to live there before you can homestead?

Do you need a bank account? Registered to vote?

What's the benefit?

Inquiring minds want to know. :D

Thank you.

Chuck
Click to expand...


Contact the property appraiser's office in your county (which I believe is Citrus County) and they should be able to confuse you even more, I know mine did. Basically, you don't pay taxes on the homestead exemption, which, due to the passage of amendment one, is now 50,000 dollars. Thus if the property appraisers office appraises your residence at $250,000, you ONLY pay taxes on $200,000. Reportedly this averages out to be some $270.00 per year of additional tax savings. (last year homestead exemption was only $25,000) Beware, the $270.00 savings will most likely result in less services provided to the taxpayer (you and me) and may cost some county/state workers their jobs. But that's a done deal anyway.

Try going to Citrus County Property Appraisers Office on Yahoo, their website may answer your questions.
 
Check with your county, Ill believe must leave in the house for a year full time, to qualify, You look like a dentist hate those guys they hurt you :banghead::banghead: Just kidding welcome to Florida . Its great after all .
 
Welcome to the barrel w/ the rest us us!! Fortunately, you have chosen a part of the state that is a little less congested than where many of us live.

Homestead exemption in FL currently exempts $25,000 of taxable value from property taxes providing you declare FL as your permanent residence and claim no residence or exemption in any other state. You are allowed to claim only one in FL regardless of the # of properties you may own. This has been loosely enforced in the past but newer safeguards are being installed by the state and counties for enforcement w/ substantial penalties for infractions.
There has been tremendous pressure on the FL Legislature this past yr to reduce property taxes so it is reasonable to expect strict enforcement of the above because of local budget shortfalls.

Amendment 1 will appear on the ballot in Nov. to be approved by voters. This will increase the homestead exemption to $50,000 but passage is by no means certain. While it may seem odd that voters may not vote for less taxes, this measure is currently being strongly opposed behind closed doors by local city and county govt's.

Real estate taxes are high in FL compared to other southern states. Compared to the NE corridor, most find them reasonable considering there is no state income tax.

You can apply for the homestead exemption at your local county property appraiser's office anytime after closing the purchase of your property. They will require a copy of a FL drivers lic., car registration and a copy of the deed. There is no waiting period (timewise) and you can apply immediately after moving and purchasing your home.

That's my .02 worth....hope it helps.:yesnod:
 
thebeepster said:
Welcome to the barrel w/ the rest us us!! Fortunately, you have chosen a part of the state that is a little less congested than where many of us live.

Homestead exemption in FL currently exempts $25,000 of taxable value from property taxes providing you declare FL as your permanent residence and claim no residence or exemption in any other state. You are allowed to claim only one in FL regardless of the # of properties you may own. This has been loosely enforced in the past but newer safeguards are being installed by the state and counties for enforcement w/ substantial penalties for infractions.
There has been tremendous pressure on the FL Legislature this past yr to reduce property taxes so it is reasonable to expect strict enforcement of the above because of local budget shortfalls.

Amendment 1 will appear on the ballot in Nov. to be approved by voters. This will increase the homestead exemption to $50,000 but passage is by no means certain. While it may seem odd that voters may not vote for less taxes, this measure is currently being strongly opposed behind closed doors by local city and county govt's.

Real estate taxes are high in FL compared to other southern states. Compared to the NE corridor, most find them reasonable considering there is no state income tax.

You can apply for the homestead exemption at your local county property appraiser's office anytime after closing the purchase of your property. They will require a copy of a FL drivers lic., car registration and a copy of the deed. There is no waiting period (timewise) and you can apply immediately after moving and purchasing your home.

That's my .02 worth....hope it helps.:yesnod:
Click to expand...

Partially correct except Amendment 1 has already been passed by voters last January raising our exemption to $50,000. Homestead also caps the rate of inflation on the assesed value of your home to 3% per year.
Here's a quote from Gov Charlie Crist:
(Last month, the people of Florida voted in overwhelming numbers to save nearly $10 billion in property taxes with the approval of Amendment 1. This tax relief is in addition to the $15 billion tax cut passed by the Florida Legislature in 2007. Together, they add up to almost $25 billion in property-tax cuts over five years for Florida homeowners and businesses.)

As I understand there also will be another Amendment on the ballot in Nov. that will decrease property takes by 25% to do this they will increase state sales tax by 1% and yes that is very shaky and contoversial. Don't mean to step on anybody's toes but just trying to help you understand out taxes.
 
<rant ON>
Taxes are never TRULY reduced. Government only changes the manner and method by which the money is taken from you. Once the government is getting money from us, they feel WE owe it to them one way or the other.
<rant OFF>
 
Rich Z said:
<rant ON>
Taxes are never TRULY reduced. Government only changes the manner and method by which the money is taken from you. Once the government is getting money from us, they feel WE owe it to them one way or the other.
<rant OFF>
Click to expand...

Truer words never spoken:banghead:
 
Hey Chuck,

When you get a chance give me a call and I will fill you in with what I had to do and when I did it. Didn't hurt much!

Rich
 
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