Florida ~ Property Tax: Just Value Homestead Exemption Amendments Approved

first_imgCCH Tax Day ReportFlorida voters approved Amendment 5 in the November 8, 2016, general election to change the current property tax exemption that may be granted for property with just value less than $250,000 owned by certain senior, low-income, long-term residents to specify that just value is determined in the first year in which the owner applies and is eligible for the exemption. The amendment will take effect January 1, 2017, and will apply retroactively to the 2013 tax roll for any person who received the exemption before 2017. Individuals who were granted the exemption in prior years but became ineligible because the just value of the homestead rose above $250,000 may regain the exemption if they otherwise are still eligible and apply for a refund.PTO 16-08, Florida Department of Revenue, November 9, 2016, ¶206-228last_img

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