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Real Estate Tax Services


 

Property Tax Exemptions

The state constitution of Florida allows up to $50,000 (additional 25,000 does not apply to school taxes) to be deducted from the assessed value of a primary residence. For the property owners who are Florida residents and have qualified for homestead exemption the property is subject to a limitation in assessment increases, commonly known as Amendment 10, (Save Our Homes). This important benefit limits the increase in the assessed value to no more than 3% or the CPI (Consumer Price Index), whichever is less.

When the property is sold the homestead exemption is removed, (adding a non-marital relative to the deed can cause a partial loss of this limitation on increases) the assessed value increases to just/market value for the New Year.

Exemption applications are provided and accepted by the Hillsborough County Property Appraiser's office.

For more information regarding homestead or other exemptions, please call the Property Appraiser's office at (813) 272-6100 or visit their web site at www.hcpafl.org.