Tax Exemptions-Florida


Tax Tips

List of Tax Exemptions you or your client may qualify for:

Homestead Exemption – Up to $50,000
$500 Widow’s and Widower’s Exemption
$500 Disability Exemption
$5,000 Disability Exemption for Ex-Service Member
$500 Exemption for Blind Persons
Service Connected Total and Permanent Disability Exemption
Exemption for Totally and Permanently Disabled Persons
Additional Homestead Exemption for Persons 65 and Older
Homestead Property Tax Discount for Veterans Age 65 and Older with a Combat Related Disability
Homestead Tax Deferral
Installment Payment of Property Taxes
Personal Property

Source is the Florida Department of Revenue

Qualifying for Homestead-Collier County, Naples, Florida


Homestead Exemption

What you or your clients need to know about qualifying for Homestead by the March 1st Deadline

You must provide the following items as proof of legal residence:

  1. Evidence of ownership (deed, tax receipt, etc.)
  2. Social Security numbers for all owners
  3. County Voter Registration (if you vote) dated prior to January 1st
  4. Florida Driver License dated prior to January 1st
  5. Florida Vehicle Registration dated prior to January 1st

Optional: Declaration of Domicile filed with the Clerk of the Circuit Court prior to January 1st of the year of application.

You must have legal and equitable title to the property and reside in the property as your primary residence as of January 1st.

Additional information may be necessary:

  1. If not a U.S. citizen, a resident alien  “green” card.
  2. If your property is held in trust, a complete copy of the trust agreement.
  3. If your residence is a mobile home, the real property decal number and a copy of the registration or title to the mobile home.

Source is the Collier County Property Appraiser website:

Power of Attorneys

Powers of Attorney

Florida Uniform Title Standards govern how title agencies and their Underwriters assess marketable title. Too often when we are provided with a Power of Attorney for a real estate transaction, it has broad, general language and does not contain the specific powers needed to insure the type of transaction.

A gives to B a power of attorney authorizing B “to generally act for me and in my name, place and stead, in any state and in relation to all matters, to do any and all things and to execute any and all instruments which I might or could do if personally present.” Does B have the authority to convey land owned by A? No.

If a Power of Attorney is necessary to accomplish a real estate transaction, the document must reflect the powers being conveyed such as the authority to sell, convey or mortgage.

Note: No legal advice or suggestion is being given. Present a copy of the Power of Attorney for underwriting review as early as possible. The above is an excerpt only from the Florida Uniform Title Standards.


Vesting or Taking Title on Deeds


Multiple Party Deed

A few ways in which more than one party may hold title are as follows:

Tenants by the Entirety:  Only a husband and wife may hold title in this manner.  Provided the couple remains continuously married, the surviving spouse becomes the 100% owner of the property upon the death of their spouse.

Tenants in Common:  Title can be held by two or more individuals or legal entities in equal or unequal percentages.  Upon the death of one of the owners, their interest passes under the term of their will and not automatically to the other people with whom they are in title.

Joint Tenants with Rights of Survivorship:  Title must be held in equal interests (ie:  50/50 or 25/25/25/25) by individuals.  Title passes automatically to the co-owners upon the death of any owner.

Life Estate with Remainder Interest:  Title passes automatically to the holder of the remainder interest upon the death of the holder of the life estate interest.

Note:  No legal advice or suggestions are being given as to the preferable or recommended way to hold title.  Consult with an attorney prior to deciding how to hold title.  The above is an excerpt only from an Underwriting Manual.