Did You Acquire Property in 2022?
You may be eligible for Tax Reduction Benefits!
Homestead Exemption:
You may qualify for substantial tax savings with the homestead exemption if you are a permanent Florida resident. This exemption is not automatically applied to your new home. As the new owner, you must apply for the exemption with the Property Appraiser’s office.
Homestead exemption could save you $500 - $1,000 each year. You can't rely on current taxes as an estimate following a change in ownership as these represented the seller’s taxes. The Assessed Value of your home resets to full Market Value in the year after you acquire the property, which could result in much higher taxes. Make sure to connect with a trusted real estate professional to address questions about your home purchase or current property. We at Sandestin Real Estate pride ourselves on being there for our clients at every step of their real estate journey!
Don’t delay, the deadline for filing is March 1st!
Contact the Walton or Okaloosa County Property Appraiser’s office for more information.
Posted by Heather Hudson on
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