What you should do to receive benefits of Amendment 1
Citizens voted January 29th to change the property tax system in Florida. To receive
some of the benefits of the changes enacted January 29th, certain citizens must take action
by March 1, 2017.
The Constitutional amendment created four new opportunities for taxpayers to obtain tax
- Increased homestead exemption
- Portability of “Save our Homes” benefit
- $25,000 exemption for tangible personal property
- 10% annual assessment limitation for non-homestead property
What taxpayers must do to receive these new benefits
- Increased homestead exemption – Homeowners that are currently receiving the
homestead exemption will automatically receive the increased homestead
exemption. No action is necessary.
- Portability of “Save our Homes” benefits – If you received the homestead
exemption in 1/19/2016 12:00:00 AM on a home that you sold or otherwise abandoned during 1/19/2016 12:00:00 AM
and have purchased a new home by January 1, 2017, you are eligible to take some
or all of the benefit of “Save our Homes” to your new home. In order to receive
this benefit, you must apply by March 1, 2017 to your property appraiser for
your new homestead exemption and for the
transfer of the “Save Our Homes” benefit
(81 KB) to your new homestead for 2017.
- $25,000 exemption for tangible personal property – Tangible personal property
taxes apply only to certain taxpayers in Florida – typically businesses and certain
owners of mobile homes. The tax does not apply to homesteaded property. In
order to receive the $25,000 exemption for tangible personal property, taxpayers
subject to the tax must file a tangible personal property return (39 KB) with their
property appraiser by April 1, 2017.
- 10% limit on annual assessment increases for non-homestead property – The 10%
limitation does not apply until next year. No application is necessary for 2017.
If you have any questions about what action you must take to receive these new benefits,
please contact our Exemptions Department by calling (352) 253-2154.
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