How to Save on Property Taxes!

Let’s talk about property tax, I know it is your favorite topic right? In Florida, property taxes are calculated based on the assessed value of your property minus any exemptions that you may have. Property tax exemptions are helpful to lower the amount of property taxes that you owe each year. The Leon County Property Appraiser’s website is a great place to find what property tax exemptions are offered in our area!

Filing for homestead exemptions on your property tax is probably the most common exception that people can file to help reduce that assessed value. There are other types of exemptions such as: Widow/Widower, Military/Veterans, and Disability just to name a few. For a full list and more information about the available exemptions, please check out the Leon County Property Appraiser’s website or click here https://www.leonpa.gov/Exemptions

Have you heard about “portability” when it comes to property tax savings? Portability is when eligible Florida homeowners transfer their Save Our Homes (SOH) benefit from their previous homestead to their new homestead which lowers their tax assessment for taxes owed on the new homestead. This means, if you are purchasing a home that has a higher “just market value” than your previous homestead, then you can “port” the savings by subtracting the assessed value of the previous home from it’s market value. This will in turn bring you more savings on the property taxes for your new home. Another key point for portability, you can port your savings anywhere in the state of Florida! To learn more about this awesome savings, reach out to your local county property appraiser’s office. 

Don’t forget to file for your homestead exemption by March 1st! I hope you have found these quick tips helpful and that they will bring you some savings when it comes to your property tax.