Homestead Exemption

Dated: 01/24/2019

Views: 57

File for Property Tax Relief Before It's Too Late! 

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If your new property is your primary residence, then you may qualify for a Homestead Exemption! The exemption will reduce the assessed value of your property for tax purposes, so you're taxed only a portion of the value of your home

In many cases, homestead exemptions are based on a percentage of value or a set amount, whichever is less. For example, if the tax assessor values your homr at $250,000, but your exemption allows for the lessor of 10% of assessed value ($25,000), or $45,000, you will be taxed on a $225,000 value. 

Homestead Exemption statutes vary by state and even by local jurisdiction. Exemptions typically are allowed to homeowners who were living in their homes as of January 1 of the tax year. 

I'm familiar with many of the rules in our area, so I will be glad to help you. For the most comprehensive answers, you can consult your tax advisor or your local assessor's office. 

CALL TODAY for Details!

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Agnes Gray and Ellen Mitchel

Miami's melting pot of architecture and design attracted both Ellen and Agnes to pursue careers in real estate. Understanding current market trends, they are able to evaluate each property at its true....

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