Any person entitled to claim Homestead Exemption may qualify to defer a portion of their property taxes or non-ad valorem assessments based on the applicant’s household income for the previous year.
Definitions: Section 197.243, Florida Statutes, relating to Homestead Property Tax Deferral Act.
Qualifications for Homestead tax deferral and amount of taxes and non-ad valorem assessments that may be deferred:
a. Must be entitled to claim homestead tax exemption
- “Household” means a person or group of persons living together in a room or group of rooms as a housing unit, but the term does not include persons boarding in or renting a portion of the dwelling.
- “Income” means the adjusted gross income, as defined in s. 62 of the United States Internal Revenue Code, of all members of a household. (This is the “Adjusted Gross Income” amount reported on IRS Form 1040.)
b. Amount - - Based upon adjusted gross income of all members of the household and/or age
Applications for the deferral plan must be made each year after the tax
bills have been mailed, on or before March 31st. Applications are available at the Tax Collector’s Office. Please call 352-341-6509 for further information.
Pursuant to Section 197.252(5) F.S., the taxes, non-ad valorem assessments and interest deferred shall constitute a prior lien on the homestead and shall attach as of the date and in the same manner be collected as other liens for taxes.
- If the prior year adjusted gross income of all members of the household was less than $10,000, the entire tax amount and any non-ad valorem assessments may be deferred.
- Anyone may defer that portion of taxes and any non-ad valorem assessments which exceeds 5 percent of the adjusted gross income of all members of the household for the prior calendar year.
- Anyone 65 years of age or older may defer that portion of taxes and any non-ad valorem assessments which exceeds 3 percent of the adjusted gross income of all members of the household for the prior calendar year.
- Anyone 65 years of age or older with an annual adjusted gross income which is less than the amount of the household income designated for the additional homestead exemption pursuant to section 196.075, Florida Statutes, may defer the entire amount of taxes and any non-ad valorem assessments.
- The amount of primary mortgage financing on the Homestead cannot exceed 70% of the assess value of the Homestead.