Florida Property Taxes — Home Value Appraisals — Make Professional Floor, Building & Landscaping Plans — Cheap Mortgage Refinance Rates
Home Value Appraisals, Property Tax Appeals
Florida Property Tax Exemptions:
$25,000 Homestead Exemption
Every person who has legal or equitable title to real property in the State of Florida and who resides on the property on January 1 and in good faith makes it his or her permanent home is eligible for a homestead exemption. If title is held by the husband alone, a wife may file for him, with his consent, and vice-versa. If property is held by the entireties, one spouse may file as agent for the other.
$500 Widow's and Widower's Exemption
Any widow or widower who is a bona fide Florida resident may claim this exemption. On remarriage, the widow or widower is ineligible for the exemption. A person who is divorced before the spouse's death is not considered a widow or widower.
$500 Disability Exemption
A Florida resident who is totally and permanently disabled may qualify for this exemption.
$5,000 Disability Exemption for Ex-service member
An ex-service member disabled at least 10% in war or by service-connected misfortune may be entitled to a $5000 exemption on any property owned by the ex-service member.
$500 Exemption for Blind Persons
A Florida resident who is blind may qualify for this exemption. If claiming exemption based on blindness, the applicant must have a certificate of blindness issued by the Division of Blind Services of the Department of Education, the Federal Social Security Administration, or the Veteran's Administration.
Service Connected Total and Permanent Disability Exemption
An honorably discharged veteran with service-connected total and permanent disability may qualify for total exemption of homesteaded real estate used and owned as a homestead, less any portion used for commercial purposes. An existing exemption can be transferred to a new qualifying residence.Application must be made on the new residence and all other criteria met for the continued homestead exemption.
Under certain circumstances the benefit of this exemption can carry over to the surviving spouse. For more information click here.
Home Valuation Property Taxes are based on fair market value and the additional factor of personal property.
Personal Property For purposes of property taxation, personal property is divided into these categories:
- Tangible Personal Property - All goods, chattels, and other articles of value capable of manual possession whose chief value is intrinsic to the article itself. "Inventory" and "Household Goods" are expressly excluded from this definition.
- Household Goods - Apparel, furniture, appliances, and other items usually found in the home and used for the comfort of the owner and family. Household goods are exempt from property taxation.
- Inventory - Items of inventory are exempt from property taxation. Inventory generally means goods, wares, and merchandise held by a business for sale.
Some items of personal property are not taxable, for example, licensed motor vehicles, boats, airplanes, trailers, trailer coaches, and certain mobile homes as defined by law. For more information click here. The amount of tax due is calculated by multiplying the value of the property by the tax rate set by the taxing authorities.
Personal income tax
• Florida residents pay no personal income tax.
Sales tax
• Florida levies a 6 percent sales tax with additional county incremental taxes that could bring the total as high as 9.5 percent (food, prescription and non-prescription drugs exempt).
• The five states with the lowest tax burden as a percent of income are: Alaska (6.4%) 50th, New Hampshire (7.4%) 49th, Delaware (8.0%) 48th, Tennessee (8.3%) 47th, and Alabama (8.7%) 46th. See effective state tax burden table
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