Property Taxes for Senior Citizens in Florida: What You Need to Know
Florida’s effective property tax rate of 0.82% is slightly lower than the national average. But for many homeowners, especially seniors, property taxes can still place a financial strain on fixed incomes.
Fortunately, Florida offers property tax exemptions that can ease this burden. While property taxes are never completely eliminated based on age, there are exemptions available to help reduce the amount retired adults owe.
In this article, we will discuss how property is taxed in Florida, which exemptions exist and who qualifies, and how to apply.
Do seniors in Florida have to pay property taxes?
Every homeowner in Florida has to pay property taxes. However, there are some property tax relief programs to help eligible homeowners reduce their property tax burden, including older adults. The two main relief programs are the Homestead Exemption and the Senior Exemption. We’ll dig into each of these in more detail below.
How is property taxed in Florida?
Property taxes in Florida are based on the assessed value of your property, which includes the value of the land and any structures on it, such as your home. The mileage rate and exemptions also influence how much you owe.
Here’s a breakdown of the key components of property tax calculation in Florida:
Assessed Value: This is the amount your property is valued at, which is determined by the local property appraiser. It is different from the market value or the price you could sell the property for.
Exemptions: Property tax exemptions reduce the taxable value of your property, which in turn lowers the amount of tax you owe.
Millage Rate: The millage rate is the amount of property tax you owe per $1,000 of taxable property value. This rate is set by local governments and varies by county. It is applied to the assessed value after any exemptions are considered.
The combination of these factors determines how much you will pay in property taxes each year.
Who qualifies for property tax benefits and exemptions in Florida?
All Florida homeowners pay property taxes, but many qualify for exemptions and discounts that can significantly reduce this cost. In fact, if you qualify for multiple exemptions, you might pay very little in property taxes.
For senior citizens in Florida, there are multiple property tax benefits available. However, these benefits aren't automatic – you'll need to meet specific requirements to qualify.
The two most common property tax breaks for Florida homeowners are the Homestead Exemption and the Senior Exemption. Here's what you need to know about each:
Homestead Exemption
To qualify for the Homestead Exemption, you must meet the following requirements:
The property must be your primary and permanent residence.
You must be a permanent resident of Florida and have lived in the state for at least one year before applying.
You must own the property you’re applying for.
This exemption can significantly reduce the taxable value of your property, up to $50,000 (which can save you approximately $750 annually).
Additional Homestead Exemption
Some counties offer additional Homestead Exemptions for qualifying residents. For example, if the assessed value is between $50,001 and $74,999, you could qualify for an additional exemption of $24,999 on your taxable home value. These savings apply to most property taxes, but not school board millage taxes used to fund school districts.
Senior Exemption
In addition to the Homestead Exemption, adults 65 years of age and older may qualify for the Senior Exemption, which offers further relief. To qualify, you must:
Be 65+ as of January 1st of the tax year.
Qualify for the Homestead Exemption.
Have a household income below a certain threshold, which varies by county. For example, in Duval County, the income limitation is $37,694 based on the prior year's income.
In some counties, there may be an additional senior exemption for those who have maintained permanent residence on their property for a set timeframe.
Some counties also require that the market value of your home be below a certain amount to qualify for this exemption. You’ll need to provide proof of age and income when applying.
Other Exemptions for Seniors
In addition to the Homestead and Senior Exemptions, Florida offers other tax relief programs that may benefit seniors, including:
Veteran’s Disability Exemption: Available to veterans who have a service-connected disability of at least 10%. The exemption can range from a $5,000 reduction for veterans with a 10% disability to a full property tax exemption for those with 100% disability (such as quadriplegics). Surviving spouses of disabled veterans may also qualify for this exemption.
To receive this exemption, you’ll need to include a letter from the Department of Veterans Affairs that indicates your disability as a service-connected disability. This is done at the same time that someone applies for the Homestead Exemption, using the same form.
Active duty military personnel may also receive a property tax exemption based on how many days of the year they are deployed.
Florida First Responders Exemption: Available to permanent Florida residents who have a permanent disability resulting from an injury sustained in the line of duty.
Widow/Widower Exemption: Available to Florida residents who have lost their spouse. Eligible widows or widowers can receive up to a $5,000 exemption on their property taxes. Applying property owners must include a death certificate to prove their eligibility.
As benefits vary by county, it’s advisable to check with your local property appraiser’s office to discover exactly which programs you qualify for.
How to apply for the Homestead Exemption
The exemption application is relatively straightforward. But the annual March 1st deadline is strict, so be sure to complete the process before then to ensure your exemption is applied for the current tax year. To get started:
Determine your eligibility: The property you’re applying for must be your primary residence, and you must be an official Florida resident and have lived in the state for at least one year before applying.
Gather documentation: Collect proof of ownership and residency. Common documents include a property deed, Florida driver’s license, birth certificate, utility bills, and your social security number. You may also need to include a sworn statement of gross income and/or federal income tax returns from the previous year.
Complete form DR-501: Once completed, submit it online, by mail, or in person at your county property appraiser’s office. If you’re applying for any additional exemptions, submit the corresponding paperwork. If applying for the Senior Exemption, you’ll also need to submit the DR-501SC.
Await notification: Once reviewed, your local property appraiser will notify you whether your exemption has been approved.
In some counties, you may need to reapply each year. Other counties offer an automatic renewal process for qualifying adults, reducing the administrative burden, especially for low-income seniors or those on fixed incomes.
Florida tax relief for senior homeowners
While there’s no age at which property taxes are eliminated in Florida, older adults can benefit from property tax exemptions that significantly reduce the tax burden.
Thinking of retiring in Florida? Check out our guide to the pros and cons of retirement in the Sunshine State.