Marla Martin, Communications Manager, or Jeff Zipper, Vice President of Communications
407/438-1400, ext. 2326 or 2314

Florida Realtors® Remind Residents to File for Homestead Exemption

ORLANDO, Fla., February 2007 — Do you live in a home you bought in 2006? Then you’ll want to apply for a $25,000 homestead exemption before March 1, 2007.

The Florida Association of Realtors® (FAR), which represents 165,000 Realtors statewide, reports that any Florida property owner with legal title to a home and who uses it as his or her permanent, primary residence by Jan. 1 is eligible for the exemption. And exactly what is the homestead exemption? It is generally a $25,000 deduction from a home’s assessed value as determined by the county property appraiser. Take the home’s assessed value, subtract $25,000, and apply the local millage rate to calculate the property taxes due.

Homeowners making their first claim at this time should contact their respective county property appraiser’s office to find out how best to file for the exemption -- many offices offer applications online or will mail applications to residents. Homeowners may also file for a homestead exemption in person, bringing along the deed to their property or a property tax bill -- something to prove they own the home. Also, buyers claiming the exemption for the first time need to provide their Social Security number, and if they’re married, the Social Security number of their spouse. According to officials, those applying should also bring their Florida driver’s license and a Florida registration tag number. If the property owner lives in a mobile home, then he or she should bring the deed, Social Security number and a title or vehicle registration for the home.

Once a homeowner has applied for and received a homestead exemption, it will be automatically renewed for that property each year on Jan. 1. Renewal notices are mailed out identifying the property, and if the owners still live in the home and qualify for the homestead exemption, it’s taken care of automatically.

Property appraisers’ offices will accept applications for homestead exemption until the March 1 deadline. For more specific information, call your local county property appraiser's office.

The Florida Association of Realtors (FAR), the voice for real estate in Florida, provides programs, services, continuing education, research and legislative representation to its 165,000 members in 68 boards/associations.

© 2007 FLORIDA ASSOCIATION OF REALTORS®