Homestead exemptions in St. Aug.

Asked by Ange, New Orleans, LA Tue Apr 14, 2009

Why are some homes in St. Aug homesteaded and some not? A homestead exemption would raise our price range considerably.

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Elke McMenemy…, , Saint Augustine, FL
Sun Apr 26, 2009
When it comes to homestead exemptions, my best advice would be for you to contact the St. Johns Co. Property Appraiser's Office because answers are not simply black or white.

For instance, I very recently called this office in order to ascertain why 35 properties of a total of 36 properties on a street were being assessed at 100% of market value and the 36th property at only 80% of market value. The difference was over $100,000 in value used to arrive at the 'taxable' value. I was told that because the 'new' owner who bought the home in December of 2008 had taken advantage of the new 'portability' provision of the current homestead exemption program, the taxable value was reduced by that amount. I asked what would happen if the new homeowner decided to sell the property next year - would the taxes remain the same for the purchaser, or? The answer was, no - the taxable value would be adjusted to 'take away' the amount of homestead exemption that had been applied earlier - unless the next buyer also had owned and homesteaded his previous residence prior to purchasing this home. In that case, the correct amount would be calculated. Confused? You have a right to be. Like I said earlier - your best bet is to get it straight from the people who know. Call or visit the Appraiser's Office. You may also visit my website and click on "homestead exemption" on my home page.

Elke McMenemy, Broker
St Augustine Real Estate Inc
Call or Text Me @ 904-612-7312
0 votes
Tom Pomar, Agent, Saint Augustine, FL
Wed Apr 15, 2009
As a general rule, homestead exemption in Florida is granted for owner occupied properties, i.e. the property is your homestead. Other properties owned by investors or others are not granted homestead exemption. The current homestead exemption in Florida is $50,000, meaning that a home for which you paid $400,000, to be used as your homestead or primary residence, would be assessed for real estate tax purposes at $350,000.

Please call me at (904) 806-4230 to discuss what type and price range of home which I may provide assistance in locating for you.

Tom Pomar
Century 21- St. Augustinbe Properties Inc
0 votes
Barbara Jenn…, Agent, Saint Augustine, FL
Wed Apr 15, 2009
Homesteaded homes are the primary homes of the owners. When you purchase a home in Florida, it will be reassessed for next year's taxes, so the break you see on the homesteaded homes are for this year.

Theoretically, if you compare two homes in the same neighborhood that you will purchase for the same price this year, the taxes for next year should be basically the same regardless on its homestead status this year. You need to compare millage rates to see difference in taxes. For instance, you will pay more taxes in the city of St. Augustine than in the unincorporated areas for the same valued home due to a higher millage rate.

Please ask your real estate professional what the millage rate is for the area you are viewing or visit my website , and click on "Estimate Your Property Taxes".

Please visit the web reference link I have included below from the St. Johns County Property Appraiser's website for more information. Let me know if I can assist you. We live in such a special and beautiful place.

Barbara Jenness
Licensed Real Estate Broker
Serving northeast Florida from Jacksonville to St. Augustine including Ponte Vedra
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