If i buy a new house for 230,000 in Broward County, and want to take advantage of the portability act, how do
I go about doing this? my current home (in palm beach county) will be rented. My current house assessed value is 89,234, and the market value is $173,091.
I want to carry the portability to the new house, but don't want to pay high taxes on the current one (which I hope to sell soon). Please help!
Follow Bill's advice and check out the website he refers to. You also want to contact your local county property appraiser's office for information and forms. (For Broward County it's http://www.bcpa.net)
You can only claim a homestead one one property and it's effective January 1st of each year. I doubt there is any way you can keep your current property and not pay higher taxes on it next year. Consult a real estate attorney, if you want to explore this further.
Homebuying,
Try checking out the following web information:
http://www.homesteadpropertyexemption.info
Good luck
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