Important Tax Savings Message
As a property owner in Florida, homestead exemption is one way to reduce the amount of real estate taxes you pay on your residential property.
In the State of Florida, if you own property and make the property your permanent residence as of January 1st of the tax year, you may qualify for homestead exemption and save hundreds of dollars. In Martin County, most homeowners save on average $400 - $600 each year.
Online filing for homestead exemption is available at www.pa.martin.fl.us. Filing deadline is March 1, 2021. Please call our office for questions at (772) 288-5608.
Homestead exemption is $25,000 deducted from your assessed value before the taxes are calculated plus an additional homestead exemption up to $25,000 applied to the assessed value above $50,000. The additional exemption does not apply to school taxes. The year after you qualify for homestead exemption, your assessed value cannot increase more than 3% per year, or the increase in the consumer price index, whichever is lower. The increase is not automatic since the assessed value cannot be greater than the market value. Listed below are examples of common things that may cause you to lose your homestead exemption:
• Renting your property for more than 30 days per calendar year, for 2 consecutive years.
• Maintain or obtain an out-of-state residency-based tax exemption, reduction, benefit, credit, etc. (E.g. STAR in NY, a veteran’s exemption, the Massachusetts declaration of homestead, etc.). Please call our office for more information at (772) 288-5608.
• Maintain or obtain a driver’s license in any other state. A driver’s license is residency based.
• Fail to register a vehicle in Florida if you drive it here.
• Registered to vote elsewhere. As a Martin County resident, this county must be the only place you are registered to vote. You may elect to file a declaration of domicile instead of registering to vote, but you still may not register to vote elsewhere.
We want all residents who qualify to have and keep their homestead exemption. This checklist is provided to avoid the pitfalls that can occur inadvertently and would result in back taxes that carry stiff penalties and interest charges.
By law, a homestead exemption is not transferable. If you move, your homestead exemption does not automatically follow you to your new residence. You must file a new application for your new residence.
JENNY FIELDS, CFA
MARTIN COUNTY PROPERTY APPRAISER
3473 SE Willoughby Blvd. • Ste. 101,
Stuart, FL 34994 • 772-288-5608