Homestead exemption is one way to reduce the amount of real estate taxes you will have to pay on your residential property. In the State of Florida , if you own property, reside on that property and are a permanent resident of Florida , all as of January 1st of the tax year, you may qualify for a $25,000 homestead exemption. That could mean a savings of about $425 in property taxes!
Homestead Exemption is $25,000 deducted from your assessed value before the taxes are calculated plus an additional $25,000 homestead exemption applied to the assessed value above $50,000. The additional exemption does not apply to school taxes. The year after you qualify for homestead exemption, your assessed value cannot increase more than 3% per year, or the increase in the consumer price index, whichever is lower. The increase is not automatic since the assessed value cannot be greater than the market value.
What a good question. You should contact http://www.paslc.org. That is the site for the property appraiser. There are exemptions for having your Florida property as your primary residence, also for elderly, and disabled. That site is a wealth of information. Hope this helps!
Here's a link for you to review homestead exemptions for pt st. lucie....http://www.paslc.org/main-exemptions.asp
Kay Pearson, CRS
Nettles Coastal Realty
9803 S. Ocean Drive
Jensen Beach, Florida 34957