WHAT IS “RECAPTURE”?
The “Recapture Rule” (FAC12D-8.0062) requires Property Appraisers to raise the Assessed Value (SOH Capped Value) of qualifying homestead property by the maximum of 3% or the annual Consumer Price Index (C.P.I.) change, whichever is less, on all properties assessed at less than market value in any given year. This “Recapture Rule” means that any property receiving a homestead exemption that has an assessed value below market value due to a SOH cap, will be increased by up to 3% pursuant to the Florida Administrative Code. Mr. Wilkinson strongly opposed this Department of Revenue rule and appealed it before an Administrative Judge and the Governor and Cabinet, but unfortunately lost. If your market value decreased and your assessed value increased without any new construction, you may be feeling the effects of the Recapture Rule. For more information regarding recapture please contact the Florida Department of Revenue website at www.myflorida.com/dor. Then click on “Research Law, Propert
