Is there any provision of law that would allow the transfer of a homestead assessment limitation difference when one or more owners remain in the previous homestead?
Yes. Florida Statute allows an owner of a homestead to abandon the homestead and reestablish the property as a new homestead even though it remains his or her primary residence by notifying the property appraiser of the county where the homestead is located. This provision allows owners who no longer live at the previous homestead to transfer their share of SOH exempt value and for the owners who remain in the previous homestead to transfer back in their share of the SOH exempt value as the next January 1, if the owner still residing at the previous homestead voluntarily abandons the homestead. If this occurs, the previous homestead must be reassessed at full market value on January 1 and the owner remaining must reapply for homestead exemption and apply to for their share of the SOH exempt value to be reapplied to the homestead.
Related Questions
- Is there any provision of law that would allow the transfer of a homestead assessment limitation difference when one or more owners remain in the previous homestead?
- If the previous homestead is qualified for both a homestead exemption and an agricultural classified use assessment, how is the amount of transfer to be calculated?
- Do Assessment Objectives remain the same in the new specification?
