All Counties will give you certain exemptions, if you qualify. Most common exemptions are general homestead exemption (primary residences only); senior citizen exemption; and senior citizen freeze. If you qualify, you can have all three exemptions simultaneously.
Most misconstrue, however, what a freeze on property taxes means. Senior Citizen Assessment Freeze does not mean your taxes will be frozen or remain the same forever; it means that the value of your property gets a freeze (does not change), but the tax rate changes and actual tax amounts change accordingly.
Further, Florida state has very stiff penalties for wrongfully claimed property tax exemptions. For example, state law allows county property appraisers to file a lien against the property seeking up to 10 years of back taxes at 15% interest per year and to levy fines totaling half the amount of back taxes owed. Property owners may also be charged with a misdemeanor punishable by up to a year in jail and a $5,000 fine.
Where many homeowners do not even know what tax exemptions they are receiving and may not be aware of wrongful exemptions provided to them, some purposefully report a different name on multiple properties that they own or blatantly claim homestead for more than one property. Since most counties struggle to meet their budget, and false exemptions cause millions of dollars in lost revenue, counties are more aggressive in exploring ways to apprehend and punish those breaking the law.
October 19, 2011
Uncategorized