Save Money on Your Taxes by Buying Your Home by the End of The Year
Posted by Smith & Associates Real Estate on
Save Money on Your Taxes by Buying Your Home by the End of The Year
Most property owners are familiar with Florida’s Homestead Exemption, but do you know how it can help reduce your taxes?
Now that we have your attention, here's a snapshot of the benefits for Tampa homeowners—and why they matter to you.
If you own residential property (or are thinking about it), you are eligible for the Florida Homestead Exemption—a property tax break that can reduce the taxable value on your primary home by as much as $50,000. That's approximately $750 per year in savings.
When you purchase a home, Florida state law requires your property value to reset to the current market value. So when you file for a homestead exemption, you are protected from the value…
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