What is Homestead Exemption?
Homestead Exemption is a tax reduction allowable to homeowners who make their property their permanent (primary) residence. If approved, this exemption could reduce the taxable value of your residence by up to $50,000. The first $25,000 of this exemption applies to all taxing authorities. The second $25,000 of exemption excludes School Board taxes and applies to properties with assessed values between $50,000 and $75,000. As a result, the homeowner would enjoy a substantial savings on the taxes levied on their property by the various taxing authorities. Homeowners must file an initial application once they have moved into the property.
The Homestead Exemption will be automatically renewed each year and a renewal receipt will be mailed to them as long as NO changes have occurred to their exemption status. (i.e. mailing address, marital status, etc.)
It is, however, the responsibility of the owner to notify the Property Appraiser of any change in their exemption status.
Florida law requires the filing of a new application when any title change is made.*
*sited from the Seminole County Property Appraiser website, 2023