$25,000 Homestead Exemption

If you hold legal or equitable title to real property purchased in Miami-Dade County (or anywhere else in the state of Florida) in 2007, “reside thereon and in good faith made it your permanent residence as of January 1, 2008” and are a U.S. citizen or a legal resident of the United States, you are entitled to a $25,000 Homestead Exemption.

If you purchased a residential property within the first three quarters of 2007, you may have received a pre-printed application through the mail. Those who purchased in the latter part of 2007 may not have received a pre-printed application. No need to worry. An application, along with general instructions on how to complete the application, are available online at the Miami-Dade County Property Appraiser’s Office Exemptions page. The active links above will take you directly to the PDF files.

All property exemption applications may be filed with the Miami-Dade Property Appraiser’s Office anytime up to March 1, 2008 March 3, 2008. Applications can be filed in person at:

Stephen P Clark Center (Government Center)
111 NW 1 Street, 7th Floor
Miami, FL 33128

Note: I’ve been informed that the Property Appraiser’s Office has set up an area in the lobby of the Stephen P Clark Center where one can apply for any of the property tax exemptions made available.

You can also apply for the exemption via U.S. Postal Mail by sending the application to:

Miami-Dade County Property Appraisal Department
P.O. Box 013140
Miami, FL 33101-3140

In addition to the application, you must provide one proof of ownership, and two proofs of Florida residency dated prior to January 1, 2008.

Any one of the following Proofs of Ownership can be submitted:

  1. Warranty Deed
  2. Property Tax bill
  3. Notice of Proposed Property Taxes
  4. Homestead Exemption Automatic Renewal Receipt
  5. Computer Public Value Inquiry printout

Any two of the following Proofs of Florida Residence can be submitted:

  1. Driver’s License
  2. Automobile Registration (not leased)
  3. Voter Registration
  4. 1040 Income Tax Return filed in Florida or W-2 Form addressed in Florida
  5. Intangible Tax Return filed from Florida
  6. Florida Unemployment Compensation Registration
  7. Employment letter with Employer’s letterhead
  8. Child School report card or School letter attesting child’s registration
  9. Moving van receipt from another county or state
  10. Doctor’s letter with Doctor’s letterhead
  11. Church letter with Church letterhead
  12. SSA-1099 fiscal year Social Security Statement addressed in Florida

If you plan to mail your application, I advise that you send it Registered Mail/Return Receipt.

Note: Social Security Numbers are required for applications to be processed. Applications will be denied if Social Security Numbers are not provided.

The $25,000 Homestead Exemption will provide you with estimated tax savings of approximately $500 your base year (the first year that the Homestead Exemption is granted). More importantly, as a result of Amendment 10, the Homestead Exemption caps the Assessed Value (not the Market Value) of your primary residence at 3% or the Consumer Price Index (CPI), whichever is less. The “cap” remains so long as the title remains unchanged and the homeowner continuously receives HEX on the same home. A good example of how the Homestead Exemption and Amendment 10 impact primary homeowners is available by pressing the hyperlink in this paragraph.

If you have any questions regarding Homestead Exemptions or any other property exemptions, feel free to contact me at 305-491-7179 or SalgadoA@gmail.com.

Adrian Salgado is a Realtor Associate with RED I Realty in Miami, FL and can be reached at 305.491.7179 or SalgadoA@gmail.com.

6 Comments

Filed under Property Tax Exemptions

6 responses to “$25,000 Homestead Exemption

  1. Juan

    Hey Adrian,

    With the upcoming Jan 29 vote, can you share your thoughts on the proposed Property-Tax Amendment ?

  2. Adrian-

    Good and helpful post.

  3. Adrian Salgado

    Juan,

    I haven’t educated myself enough to form an opinion on that as of right now.

    I’ve just been so turned off by the politics surrounding the issue that when I see a headline regarding it or Marco Rubio’s face on the tube, I completely tune out.

    I hope to dig – time permitting – in the coming days and post something on it.

    Of equal importance is the elected property appraiser issue that has remained silent for some reason.

    I plan to meet with a very trusted source whose opinion I value greatly next week in order go back and forth on these issues.

    Stay tuned.

  4. Adrian Salgado

    Thank you, Kevin.

    I’m very much looking forward to the 2007 stats – WITHOUT SPIN.

    I appreciate the effort you put forward with your blog and value your opinion in the South Beach market highly.

  5. Thanks for the post… great info! I can’t believe how many people forget to file for this and get burned with even higher property taxes.

    I’m still not satisfied with Amendment 1, but it’s better than nothing.

  6. Pingback: Amendment One: Property Tax Reform or Property Tax Cut? « Miami Real Estate Blog

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