The Additional $50,000 Homestead Exemption for Persons 65 and older (FS 196.075) reduces the assessed value of your property and can result in significant tax savings. The county or municipality (excluding school board) adopts an ordinance that allows the additional homestead exemption, which applies only to the taxes levied by the unit of government granting the exemption.
We urge you to apply for this exemption (or re-apply if you had the exemption last year) if you meet the following requirements:
- You are 65 years of age, or older, on January 1;
- You qualify for, and receive, the Florida Homestead Exemption;
- Your total ‘Household Adjusted Gross Income’ for everyone who lives on the property cannot exceed statutory limits.
Click here for Valuation and Income Limits
To apply, you must complete the DR-501 and DR-501SC. You also need to provide:
- Proof of Age as of January 1 of the application year (new applicants) – Driver’s License, Identification card, Passport, Certified Copy of Birth Certificate
- Proof of household’s annual income– Most recent tax return, Social Security Form 1099, etc.
Your application and necessary supporting documents are due by March 1.
This Exemption automatically renews each year, however, it is your responsibility to notify us if your income changes and you no longer qualify for the exemption.
Warning: Please be aware If it is discovered you are out of compliance, the exemption will be removed and you may owe back taxes, penalties and any interest associated with the year(s) you were out of compliance.
How to complete your Initial Application:
| INITIAL APPLICATION &
DO NOT FILE A IRS TAX RETURN |
INITIAL APPLICATION &
DO FILE A IRS TAX RETURN |
| Complete Part A of Form DR-501SC for each person residing in your household | Complete Part A of Form DR-501SC for each person residing in your household |
| Check the box in Part B | Check the box in Part C |
| List your prior year income on Part E on the back & submit copy of Social Security Statement (SSA-1099) and/or all other income documents. (Form 1099, taxable interest, dividends, capital gains, pensions & annuities for each person residing in your household | Submit a copy of your prior year Federal Income Tax Return(s) and Wage & Income Statement (W-2 form) for each person residing in your household |
| Submit Proof of Age | Submit Proof of Age |
| Sign and date the application at the bottom of Page 1. Include your telephone number. | Sign and date the application at the bottom of Page 1. Include your telephone number. |
Long-term Resident Senior Exemption
The Long-Term Resident Senior Exemption is an additional homestead exemption that provides a local option for county and city governments (excluding school board) to eliminate their ad valorem portion of the tax bill to qualifying low-income seniors. Homeowners who meet the following requirements are eligible:
- The property must qualify for a homestead exemption
- At least one homeowner must be 65 years old as of January 1
- Total ‘Household Adjusted Gross Income’ for everyone who lives on the property cannot exceed statutory limits. (See Valuation and Income Limits above.)
- Have lived in the home for at least 25 years
- Own a home with a market value of less than $250,000
To apply, you must complete the DR-501 and DR-501SC.