The deadlineto apply for Homestead Exemption inFloridais March 1, 2010. If you qualify thisexemption could result in a tax savings ofup to approximately$600 a year! In Hernando County you can apply in person or by mail. Just click on the following links for info:
Hernando County Property Appraiser to apply in person...or apply by mail.
Qualifications for Homestead are:
1. Must be a bona fide Florida resident and mustbe your primary and permanent residence .
2. Must be residing inhome since December 31, 2009.
3. Cannot be receiving another residency based tax exemption on any other property in any other state or jurisdiction.
4. A husband and wife can only claim one home as their permanent and primary residence.
The amount of homestead exemption is incremental and based on the assessed value of your home. For example; if your h0me assessed value is $67,000, then your tax exemption will be $25,000 plus an additional $17,000 for a total of $42,000. You would be paying taxes on the difference of $25,000 which is more money you get to keep! Another example; if the assessed value of your residency is $75,000, then you would qualify for the total homestead exemption of $50,000.
If you took up residency in your new home January 1, 2010 or later, you can apply for 2011 Homestead tax exemption anytime after the March 1st deadline! If you are still living in the same home as last year, it is automatically renewed..just make sure you keep the receipt the County sends you in the mail for your records.
One more thing...if you are 65 or older and your 2009 adjusted Gross Household Income did not exceed $25,780, you may be eligible for the $50,000 LOW INCOME SENIOR EXEMPTION.
Take the time to go to the Hernando County Property Appraiser's website, which is a wealth of information for both new and current residents.
We hope you find this information helpful and most of all helps you to keep that hard earned money right in your pockets where it belongs!
