Attention New Homestead Exemption Applicants
In 2008, a majority of Florida’s voter passed Amendment 1. One of the provisions of the legislation is to provide for the transfer of accumulated Save-Our-Homes benefits. F.S.193.155(8). Eligible homestead property owners can now transfer their Save-Our-Homes benefit (“cap”) to a new homestead within one year and not more than two 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. The transferred benefit may not exceed $500,000. This provision applies to all taxes.
If you claimed homestead exemption on property in any Florida county for one of the previous two assessment roll years and you wish to transfer the “cap” from that property to your new homestead exempt property in St. Johns County, please let our staff know that you need to complete a DR501-T form along with your homestead exemption application. All applications must be filed in our office by March 1st of the assessment roll year for which you are filing.
***IMPORTANT WARNING***IMPORTANT WARNING***
Per F.S.193.155(8)(10) If the property appraiser determines that for any year or years within the prior 10 years a person who was not entitled to the homestead property assessment limitation granted under this section was granted the homestead property assessment limitation, the property appraiser making such determination shall record in the public records of the county a notice of tax lien against any property owned by that person in the county, and such property must be identified in the notice of tax lien. Such property that is situated in this state is subject to the unpaid taxes, plus a penalty of 50 percent of the unpaid taxes for each year and 15 percent interest per annum.