Helen, Home Seller in Boca Raton, FL

If you own 2 homes, do you lose the homestead exemption?

Asked by Helen, Boca Raton, FL Thu Sep 11, 2008

We own an apartment that has been on sale for over a year. We will probably end up renting it and buying a house this month. We have the homestead exemption on the apartment, so I guess by renting it we will lose it. What about the property we will buy? Can we request it since it will be primary residence?

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10
Michael Sand…, Agent, Stuart, FL
Thu Sep 11, 2008
When you go to the property appraiser's site, click on exemptions, go to portability and click on application. You will note that on previous homestead it will ask for date sold or no longer used as your homestead. This is how you would file for homestead on new purchase. You would lose the homestead exemption on your new rental property.
1 vote
Maria Ahmad, , Boca Raton, FL
Thu Sep 11, 2008
Hello Helen,

You can Homestead only one property and it has to be your primary residence, you have to live there
for more than 6 months. You will loose the Homestead on the Rental, the portability works only if the home
you moved from has been Sold not Rented, you are still the Owner. Also check out the website
http://www.palmbeachpropertyappraisersoffice.com
It has great insight.

All the best,
Maria Ahmad.
1 vote
Mott Marvin…, Agent, Sunny Isles Beach, FL
Thu Sep 11, 2008
It is my understanding that only ONE property can be homesteaded.
1 vote
Scott Field, Agent, Boca Raton, FL
Tue Feb 3, 2015
You will be able to claim a Florida homestead exemption on the property you are purchasing as your primary residence, as long as you live in it for over 6 months of the year.
0 votes
John Tennant, Home Owner, Holland, OH
Wed Jan 28, 2015
It doesn't appear that the question she asked was answered. She asked if owning 2 properties would allow her to get the homestead exemption on her primary residence.
0 votes
Donna McGarey, Agent, Orlando, FL
Fri Sep 12, 2008
Greetings Helen!
In Florida you may only claim Homestead Exemption on your primary residence. You must reside in your new home as of January 1st to be able to use the exemption for the current year. Otherwise you must wait unti the following year to apply. Once you are homesteaded, you do not need to reapply each year. Please email me at dsmcgarey@cfl.rr.com and I will be happy to assist you with any other questions.
Donna McGarey, Realtor
Charles Rutenberg Realty
0 votes
Herman Chang, Agent, Palm Beach Gardens, FL
Fri Sep 12, 2008
Portability has been approved. This means you can take your tax savings with you. Once you buy your new home, you can apply with the property appraisers office to transfer the homestead.

Let me know if my team could be of assistance.
Web Reference:  http://www.ur-investment.com
0 votes
Bill Eckler, Agent, Venice, FL
Thu Sep 11, 2008
Helen,

You can only claim a Homestead Exemption for your primary residence.
0 votes
Joan Lorberb…, Agent, Boca Raton, FL
Thu Sep 11, 2008
The answers given to you by my colleagues have been right on! I might also add that you should check with your insurance agent about the possible change of $tatus with regard to the apartment if it will no longer be your primary residence.

Cheers!

Joan Lorberbaum Moore
0 votes
Michael Sand…, Agent, Stuart, FL
Thu Sep 11, 2008
Check out the the Palm Beach property appraiser's site: http://www.pbcgov.com/papa/index.htm and look up portability. You may be able to transfer your homestead to your new residence.
0 votes
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