In My Neighborhood in 34269>Question Details

Judith Miller, Home Owner in 16001

Because of my health and family obligations, I will only be living in my Florida residence 4-5 months of the year. Will my property taxes double?

Asked by Judith Miller, 16001 Mon Feb 14, 2011

Help the community by answering this question:


Depending on the value of your property. If it is value over $100K it will increase but not double.
1 vote Thank Flag Link Mon Feb 14, 2011

In order to qualify for the homestead exemption you must use that residence as your primary residence which typically means you spend a least 6 months and 1 day there in any calendar year. The effect this will have on your property taxes will vary depending on the value of the property. The homestead exemption in Florida is $50,000 so if your property is valued for property tax purposes at $100,000 your taxes if homesteaded would be about 50% when compared to what they would be in you did not homestead the property.

If your property is valued at $250,000 the percentage of property tax increase would be much smaller. Remember also that in Florida the assessed valuation of a homesteaded property cannot be raised more than 3% a year and this is not true of a non-homesteaded property so this can also have a huge impact on future tax bills once we start seeing some meaningful appreciation which is still probably at least 2 to 3 years down the road in most areas of Florida.

Best of luck and if I can offer anything additional please feel free to contact me at your convenience..

Always at Your Service,

Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
Web Reference:
0 votes Thank Flag Link Tue Feb 15, 2011
A Ballpark idea of the $50k Homestead exemption is it's worth about a $700 discount. Of course it also depends on your "millage" rate for your property.
0 votes Thank Flag Link Tue Feb 15, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer