OPEN FILING FOR HOMESTEAD EXEMPTION

THE HARDEE COUNTY PROPERTY APPRAISER'S OFFICE IS NOW ACCEPTING HOMESTEAD APPLICATIONS FOR 2010. If you purchased a home or built a new home during 2009 and are currently residing in that home as your permanent residence, you may be eligible for up to a $50,000 homestead property tax exemption. This exemption could save property owners between $435.00 - $923.00 each year depending on the taxes levied by each taxing authority.

Recent legislation addressing property tax reform also provides an additional benefit for property owners through "portability". Portability allows property owners to transfer the "Save Our Homes" benefits from a previous homestead to a newly established homestead. For instance, if you establish a new homestead with a market value of $150,000 and your previous homestead had a "Save Our Homes" cap of $50,000, the assessed value of your new homestead would be $100,000 before applying homestead exemption. If the new homestead has a greater value than the previous homestead, then the full value of the "Save Our Homes" cap is transferred, but if the value of the new homestead is lower, then the percentage difference between the just value and assessed value is applied.

Recent legislation also provided some properties with an additional homestead exemption of up to $25,000 - this exemption is automatic for current Homestead Residents. The additional exemption only applies to properties with an assessed value of $50,000 or more. The legislation requires at least $25,000 of the value to be taxable, therefore if the value of your home is $52,000, only $2,000 is granted as an additional exemption.

[($52,000 - $25,000 (standard exemption) = $27,000) - $25,000 (taxable value) = $2,000 additional homestead] The additional exemption does not apply to the School Board's tax levy. The total tax savings ranges between $236.00 and $461.00 depending on the tax district.

For more information regarding Homestead Exemptions, please contact our office at 863/773-2196 or visit our website at www.hardeepa.net. Our office is open Monday - Friday 8:00 a. m. to 5:00 p. m.