A homestead exemption protects homeowners from their property taxes skyrocketing. So if you bought a home last year and have not filed your homestead exemption, you are risking the possibility of having a substantially higher property tax bill in future years.In Florida, your county property appraiser decides how much your home is worth. In other words, assesses the value. The amount you pay in property taxes is determined from its assessed value, so the more your home is worth, the more you pay in property taxes — and vice versa.
Florida state law limits how much the county can increase the value of your home a year. It cannot increase more than 3% or whatever people are typically paying, whichever is less. What people are paying is deemed by the Consumer Price Index, which is furnished by the Bureau of Labor Statistics.
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/CamaDisplay.aspx
- Manatee County: https://manatee.fl.bhahomestead.com/ApplyOnline/WebForm1.aspx
- Pasco County:https://exemptions.pascogov.com/(S(gktshbjohfrcsexbg1rj51xc))/default.aspx
- Pinellas County: http://www.pcpao.org/OLEX_Instructions.html
- Polk County: https://exemptions.polkpa.org/Account/LogOn?ReturnUrl=%2f
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