DID YOU KNOW ABOUT THE SAVE OUR HOMES CAP “PORTABILITY” WHICH WILL HELP LOWER YOUR PROPERTY TAXES?
Save our Homes & Homestead Portability
Amendment 10 & F.S. 193.155(8)
The year following application of homestead exemption, the assessment on your home cannot increase by more than the lesser of the change in the CPI or 3% each year. Eligible homestead property owners can now transfer their Save-Our-Homes benefit within two tax roll years after relinquishing their previous homestead. If the new homestead has a higher just value than the previous one, the accumulated benefit can be transferred; if the new homestead has a lower just value, the amount of benefit transferred will be reduced. Benefit may not exceed $500,000.
Eddie Creamer, the St. Johns County Property Appraiser, will present a class on “Homestead Portability” on March 29th from 9:00 am to 10:00 am. There will be time for a Q & A after his presentation.
This is a subject matter that should be of great interest to you and the buyers and sellers that you assist.
Please call the Board office to reserve a seat