If you recently bought a home as a primary residence and have not filed your homestead exemption, you’re risking the possibility or having a substantially higher property tax bill than you would otherwise qualify for in future years.
In Florida, the county property appraiser determines the value of your home by assessing its market worth. The amount you pay in property taxes is determined from its assessed value, so the higher your home’s value, the higher your taxes — and vice versa.
Additionally, the Homestead Exemption may limit the amount by which your home’s value can increase each year. The value cannot increase by more than 3% or the rate set by the Consumer Price Index, whichever is lower.
However, if you bought a home last year and do not file a homestead exemption, your property will not receive this protection from the state law.
Also, homestead exemptions are strictly reserved for your primary residence. You cannot file for a rental property, vacation home or investment home. It must be the place in which you primarily reside.
Typically, you must file the homestead exemption application by March 1. Once you file your homestead exemption, you do not have to do so anymore. It renews automatically.
We have listed links below for you to file homestead exemptions online for Hillsborough, Pasco, Pinellas, Manatee and Polk counties. We hope this either helps you or someone you know. If you have any other questions about buying or refinancing homes, we are always here to help. Simply call 813-707-6200. Have a wonderful year.
- Hillsborough County: https://www.hcpafl.org/E-Filing/Homestead-E-File
- Manatee County: https://ofa.manateepao.gov/ApplyOnline/WebForm1.aspx
- Pasco County: https://pascopa.com/exemptions/exemptions/homestead/
- Pinellas County: https://www.pcpao.gov/E-File-Homestead-Exemption/Welcome
- Polk County: https://exemptions.polkpa.org/Account/LogOn?ReturnUrl=%2f
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