Insights: Articles

If you own more than one home or are a Florida real estate investor, your annual TRIM (“Truth in Millage”) Notices could show you owe too much tax through overvalued appraisals. You can request a conference with the property tax appraiser, file an appeal, or do both at the same time. To get a tax…

Though Florida property tax appraisers must complete property valuations every year, they’re not always set in stone. Just what goes into those valuations? The appraisers look at such factors as the current use of the property and the prices of similar ones that have sold. Fair market value, the current property tax or “mill” rate,…

If you own a home in Florida for more than a year and later move to a new one, you may save on your property taxes through portability value. What is portability value? It’s the difference between the assessed and market values on properties that receive a homestead exemption. In Florida, the first year a…

Do you own property, or a portion of property, that is used for agricultural purposes, if your property qualifies as “commercial agricultural property,” you may enjoy a “significantly” lower tax rate. Florida Statute 193.461 is commonly referred to as the “Greenbelt Exemption”. Under this statute, farm properties that are used for bona fide agricultural activities…

Florida has carved out particular tax exemptions in their property laws for people who are currently serving in the military or are military veterans and their families. With 21 military bases in the state, Florida is home to over 92,000 active duty and reserve military personnel, and over 1.5 million military veterans living in here.…

For homeowners whose intent is to reside primarily in Florida, the state’s homestead laws offer homeowners property tax relief. Under Florida’s statute, homestead eligibility is only available to: (1) individuals that own the property as of January 1 of the tax year; (2) who permanently reside at the property; and (3) who filed a homestead…

Buying a home can be an exhilarating, terrifying and ultimately, satisfying experience, especially for the first-time homeowner. How prepared you are at the start of the process will determine how smooth a ride you’ve had by the end. Florida’s real estate laws can be murky for the uninitiated, so it is a good idea to…