Many Florida senior citizens are now eligible to claim a second $25,000 Homestead Exemption -- which applies only to the County's portion of the taxes and city taxes for residents of cities that also adopted the additional exemption. By local option, cities may adopt an ordinance increasing this exemption "up to $50,000" (see below for the list of cities adopting the increased amount). This saves the average eligible Broward senior nearly $300 each year in taxes. In order to qualify for the Low-Income Senior Exemption for 2012, an applicant must be 65 or older as of January 1, 2012 AND have a combined household adjusted gross income for 2011 not exceeding $27,030 (note: this number is adjusted annually in January to reflect the percentage change in the average cost-of-living index).
Read the entire article steps to take for propert filing at http://www.bcpa.net/senior_instructions.asp
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Charles Rutenberg Realty, Inc.