Different Tax Exemption Programs in Southwest Florida

Carney Properties & Investment Group
2110 Pondella Rd
Cape Coral, FL 33909
United States

Carney Properties

Residents of Southwest Florida are entitled with numerous property tax exemption programs. Let’s identify and discuss them individually.

Homestead Exemption

The permanent residents of Southwest Florida are eligible to receive a homestead exemption of up to $50,000. Half of the amount is dedicated to all property taxes and the other half is for non-school taxes.

Requirements:

  • The person must declare that the property is his permanent residence.
  • The person must own the property at the start of the year (January 1).
  • An application form must be submitted to Florida’s Department of Revenue.

The application form can be found on the Florida’s Department of Revenue website. The local appraiser would determine if the property is eligible for homestead exemption. If you are filing an application for the first time, most probably they will ask you the following questions:

  • What is the street address of the property?
  • Were you living in the property on January 1?
  • What is your Florida voter registration number?
  • Who is your current employer?
  • What is your Florida driver license or ID card number?

65 years or older

Residents of Southwest Florida who are 65 years or older are eligible for additional homestead exemption equal to the assessed value of the property.

Requirements:

  • Must own a real estate with a value of less than $250,000
  • Has made Southwest Florida as his or her permanent residence for at least 25 years
  • Age is 65 or older

Veterans of age 65 or older who are blind, disabled or partially-disabled or widowed, may receive additional tax discounts.

Widows or Widowers

A resident of southwest Florida who is a widow or a widower is eligible for a $500 property tax exemption.

Requirements:

  • Must not be divorced during the death of ex-wife/husband.
  • Must not remarry

Disabled and Blind

Permanently disabled or blind residents of Southwest Florida are entitled to claim a $500 property tax exemption.

Requirements:

  • Must be certified by a physician licensed under Florida; or
  • Must be certified by United States Department of Veterans Affairs; or
  • Must be certified by Social Security Administration

Disabled Ex-service member

An ex-service member is entitled to receive an additional $5,000 property tax exemption if he or she satisfies the following requirements:

  • Must be honorably discharged
  • Must be a resident of Florida
  • Disabled to a degree of 10% or more because of his or her duties while serving.

Permanently Disabled or Wheel-chaired ex-service member

They are entitled to TOTAL exemption from property taxes. The veteran’s surviving spouse is eligible to carry over the exemption.

Requirements:

  • Must be honorably discharged
  • Must be a resident of Florida
  • The disability must be service related.

Disabled Veteran who is 65 years or older

Qualified for homestead property discount based on the percentage of disability.

Requirements:

  • Must be a resident of Florida.
  • Must be honorably discharged.
  • The disability must be service-related.

There are more property taxes in Southwest Florida but the above-mentioned are the most common ones. The rest can be explained by your real estate agent. The property tax exemptions, along with numerous amenities, attract homebuyers to settle in Southwest Florida. If you are looking for homes in Southwest Florida, contact us and we can walk you through the home buying process in Southwest Florida.

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