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Will Rent Homestead Property in the Future

Author Claude
Participant Male

#1 | Posted: 4 Nov 2007 18:12 
My wife and I have a place on Hollywood Beach and we are looking to rent it in the future. Our question is, what will happen with our property taxes once we are not homesteaded anymore? Will the property taxes jump dramatically? We have owned the place since 2002 and the difference between our Assesed Value and Market Value is almost double. So will our property taxes double once we are renting? Thanks in advance for your responses.

Author johnbsims3
Admin Male

#2 | Posted: 4 Nov 2007 18:17 | Edited by: johnbsims3 
Claude,

Yes, your property taxes will indeed skyrocket. Legal 'abandonment' is considered rental of a homestead property or moving to a new primary residence. You can do a search on 'abandonment' on this BBS and read the law. The property will be re-assessed, more than likely at market value, and taxed accordingly.
http://www.floridahomesteadservices.com

Questions and Answers Florida Homestead Services - Florida Homestead Exemption Act Forum / Questions and Answers /
Will Rent Homestead Property in the Future
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