When you purchase a home and close on or before December 31st you’re eligible for Homestead Exemptions. Based upon your situation you may qualify for more than one type of exemption. These exemptions result in tax savings, and who doesn’t like to save on our taxes, right? I’ve included a link to the Brochure on Homestead Exemptions for your easy reference. http://www.manateepao.com/dnn/Portals/0/Forms/HomesteadBrochure.pdf This link also tells you how to file either in person or on line!
Also of note is the portability factor surrounding Homestead Exemptions. Let’s say for example that your current home sells for $300,000 but it was assessed tax-wise at $200,000. You have a $100,000 difference to take with you. If you purchase a home for $450,000 your $100,000 difference would result in your assessment being $350,000! But what if you’re purchasing a home for less? Well, the 80% difference between your assessment and your sales price would then apply to a home of lesser value. Make sense? if you have any questions about Homesteading, just message us at firstname.lastname@example.org with the subject line Homestead. Remember, we still have lenders who can close on properties in less than 30 days and if you’re cash – well, that’s super easy. Call us about our featured property of the week that just might be your ticket to a December purchase of the home of your dreams. 941.779.5149. We’re standing by to assist you with all of your real estate needs and questions. You can also log onto for information or to file your exemption in Sarasota and to http://www.sc-pa.com/homestead/overview/. To dig deeper go to http://floridarevenue.com/dor/property/taxpayers/exemptions.html.