Real Estate Tax | Services (2024)

FAQs

At what age do seniors stop paying property taxes in FL? ›

You are 65 years of age, or older, on January 1; You qualify for, and receive, the Florida Homestead Exemption; Your total 'Household Adjusted Gross Income' for everyone who lives on the property cannot exceed statutory limits.

When someone owns property and makes it his or her permanent residence or the permanent residence of his or her dependent, the property owner may be eligible to receive a homestead exemption that would decrease the property's taxable value by as much as $50,000.

In Florida, local governments are responsible for administering property tax. The Department of Revenue's Property Tax Oversight p​rogram provides oversight and assistance to local government officials, including property appraisers, tax collectors, and value adjustment boards.

RELIGIOUS, CHARITABLE AND EDUCATIONAL EXEMPTIONS

Real estate owned by certain religious, charitable or educational entities that are used for religious, charitable or educational purposes is exempt from property taxation. An exemption must be applied for through the Property Appraiser's office.

At What Age Can You Stop Filing Taxes? Taxes aren't determined by age, so you will never age out of paying taxes.

If you are at least 65, unmarried, and receive $15,700 or more in nonexempt income in addition to your Social Security benefits, you typically need to file a federal income tax return (tax year 2023).

Neighbor's Assessed Value may be lower

There are a number of reasons that could result in your assessed value being higher than your neighbor's. For example: Your neighbor homestead exemption is older than yours and the values are locked in at lower amounts.

Up to $25,000 in value is exempted for the first $50,000 in assessed value of your home. The above exemption applies to all property taxes, including those related to your school district. You pay full taxes on any value between $25,000 and $50,000.

State and local property taxes are deductible in Florida, regardless of whether they're paid through an escrow account as part of your mortgage payment (this is how most Florida homeowners pay real estate taxes), or paid directly to the taxing authority.

What happens if you can't pay your property taxes in Florida? ›

If taxes remain unpaid the actual real estate is then auctioned to the highest bidder by the Clerk of the Circuit Court. The minimum or opening bid is the sum of all taxes, interest, costs and fees paid up until the sale.

Florida Property Taxes

The state's average effective property tax rate is 0.80%, which is lower than the U.S. average (0.99%). The typical homeowner in Florida pays $2,338 annually in property taxes, although that amount varies greatly between counties.

Certain property tax benefits are available to persons 65 or older in Florida. Eligibility for property tax exemptions depends on certain requirements. Information is available from the property appraiser's office in the county where the applicant owns a homestead or other property.

Veterans with Service-Connected, Total and Permanent Disability or Confined to a Wheelchair Property Tax Exemption: Veterans who have a service-connected, total and permanent disability rating from the VA, or who are confined to a wheelchair are eligible for a total property tax exemption on their homesteads.

Do I need to re-apply for my Homestead Exemption every year? No, you do not. The Property Appraiser mails out in January an “Automatic Residential Renewal Receipt” to every homesteaded property owner. If you do not have any changes, you can keep the receipt as proof that you are eligible for the automatic renewal.

The age at which one is considered a senior citizen in Florida is generally between 60-65 years of age, it however varies depending on the context. For example, the Florida Department of Elder Affairs defines a senior citizen as someone who is 60 years of age or older.

The only exception to the legal age of consent is the so-called Romeo and Juliet law, which is a close-in-age exception. This Florida law states that minors who are 16 or 17 years old can consent to sexual activity with someone no more than 23 years old. If the adult is age 24 or older, it is considered statutory rape.

Whether you're 65 or 95, seniors must pay capital gains tax where it's due. This can be on the sale of real estate or other investments that have increased in value over their original purchase price, which is known as the “tax basis.”