As we move towards the close of 2011 and the start of 2012, it is always important to revisit the Florida Homestead Tax Exemption to make sure its benefit is not missed. As in 2011, the Florida Homestead Tax Exemption for 2012 will provide that property owners who make Florida their permanent residency prior to January 1, 2012, will be eligible for the homestead tax exemption of up to $50,000.00.
The primary homestead exemption takes$25,000.00 off the taxable value of your home, and it applies to all property taxes. A second $25,000.00 exemption was added in 2008, but does not apply to school taxes. Additional exemptions of $500.00 each are also available to widows, widowers, the disabled and the blind. Individuals with total and permanent disabilities who own homesteaded property are exempt from paying property taxes in Florida.
