If You Moved Within Florida in 2007, Apply Now for Lower Real Estate Taxes
By Zana Holley Dupee, Esq.
(352) 332-7688
If you moved in 2007 from one property in Florida where you had the $25,000 homestead exemption and moved to another property on which you are eligible for the $25,000 homestead exemption effective 1/1/2008 then any Save Our Homes deferred taxable value you had on the first property can be transferred (in whole or in part) to the second property. This can drastically lower the real estate tax bill on your new home
In most cases, of course, such a move from one home to another would have involved the sale of the first home and purchase of a replacement home, but the portability is allowed even if no sale took place (for instance, a person could have owned a personal residence and a rental property on 1/1/07 and during the year could have made the rental property the personal residence and turned the personal residence into a rental property).
THE DEADLINE FOR APPLYING FOR THE SOH PORTABILITY IS MARCH 1, 2008. I have attached the form used to apply for the portability to this blog.
