If you are a permanent resident of Florida and you own a property as a primary residence, you are eligible for Homestead protections and exemptions. Homestead can be applied to condominiums, single family homes, mobile homes and manufactured homes. A Homestead can only be applied to one permanent residence in the State of Florida.
The Homestead provisions of the Florida Constitution and Florida Statutes cover two general areas: property taxes and protection from creditors. From the property tax standpoint, a property owner is eligible for a property tax exemption of up to $50,000.00, meaning that the taxable value of the homestead residence is reduced by up to $50,000.00, resulting in significant tax savings for the homestead homeowner. From the creditor protection side, owning a residence with a homestead designation protects the owner’s homestead property from levy and execution by judgment creditors. In other words, unsecured creditors (i.e., creditors other than a mortgage company, construction lienholder, or other secured creditors) cannot force the sale of your homestead to satisfy the creditor’s money judgment.
How Do You Get Homestead Protection?
- You must own the real property you seek to make your homestead on or before January 1.
- You must occupy the real property you seek to make your homestead on or before January 1.
- You must declare it your primary residence and apply for the homestead exemption by March 1 of the same calendar year you are looking for the exemption within the county where the real property is located.
Finally, you are required to provide documentary evidence showing that this real property in Florida is your primary residence, such as a Florida driver’s license or proof of giving up your former driver’s license from another state, utility bills, or a Florida voter registration card. This is not an exhaustive list but a few examples of what qualifies as proof of residency.
Where can you apply for Florida Homestead?
Link to Sarasota County Property Appraiser:
