Florida Homestead Exemption-New 2008 property tax Reforms:
New 2008 property tax Reforms: In a January 2008 ballot measure, Florida voters approved a constitutional amendment that introduced several changes to our state's property tax system. The four changes may affect the amount of tax you owe: Increased Homestead Exemption: If you're currently receiving a $25,000 homestead exemption on your property taxes, you will automatically be upgraded to a $50,000 exemption this year. If you are a homeowner and do not currently receive the exemption, you may file your application in person along with a $15 late fee, through mid-September. Save Our Homes Portability Cap: You may now trasfer up to $500,000 of your property tax cap to a new home when you move. To take advantage of this benefit, you must file a Homestead Exemption and Portability Application. Tangible Personal Property Tax Exemption: If you're required to file a Tangible Personal Property Tax Return, you're entitled to a $25,000 exemption on business equipment. Non-Homeste