by Friend » Wed Jan 22, 2014 5:45 am
Everyone must have a permanent residence and yours is not Florida The people who pay less taxes have only one home, in Florida. They file homestead exemption and get $25,000 in value deducted from the taxable value. They also are protected by having their value capped at a 3% increase each year. Should you give up your other home, you would be able to live in Florida year round and homestead your home and get the same benefits. In the meantime, taxes continue to rise in Florida due to the influx of snowbirds, vacationers and hurricanes. My homeowner's insurance has doubled. I bought a new townhome two years ago and missed the filing deadline for Homestead exemption the first year. So, I paid the penalty by being taxed on the full value. When I filed the next year, I thought I was protected. However, when I got my tax bill, my taxable value went up 40%. They tell me I am capped for next year, but not for this one. I have lived in Florida all of my life and have owned a house for 25 years somewhere in Florida. Because I got busy and missed one deadline, I'll pay more taxes on this residence for the rest of the time I live here. You may have retired to Florida, but I won't be able to afford to, I'll have to retire somewhere cheaper. Sources: I've lived in Florida all of my life. postmuffin 84 months ago Please sign in to give a compliment. Please verify your account to give a compliment. Please sign in to send a message. Please verify your account to send a message.