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Homestead
Gov.Ron DeSantis announced a bill to increase Homestead exemption. Currently, you can be assessed on $75,000, that wu=I’ll increase to $125,00. Needs 60% to pass.
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4 Replies
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Great News, Peter. Thank you for sharing. Which state representative is not going to vote YES for Homestead Exemption Increase in Florida. Lol. Governor Ron DeSantis recently announced a proposed bill to increase the homestead exemption in Florida. This proposal is designed to provide additional tax relief to homeowners. The current homestead exemption in Florida is that homeowners can be assessed on the first $75,000 of their property’s value. The proposed increase is to increase the exemption to $125,000. The increase in the homestead exemption in Florida requires the legislative process and approval of the state legislature. 60% approval from the Florida Legislature is required for the bill to pass. If passed, this increase would provide significant tax savings to homeowners, particularly benefiting those with mid to high-value homes. The homestead exemption is a critical aspect of Florida’s property tax system. It reduces a primary residence’s taxable value, lowering homeowners’ property taxes. This exemption especially benefits long-term residents and can provide substantial financial relief. While beneficial for homeowners, increasing homestead exemption could reduce revenue for local governments, which rely on property taxes to fund essential services. Increased savings on property taxes make homeownership more affordable and attractive, potentially boosting the real estate market.
By staying informed and participating in the legislative process, Florida residents can better understand how these changes might impact their financial situation and community resources.
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Well said, someone is addressing the problem.
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How is Governor Ronald DeSantis doing as the Governor of the state of Florida.
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I think he’s doing a fine job, once he addresses the housing issues, especially for retirees.
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