How to apply Homestead exemption on your property

As high-level tourist city, Orlando welcomes thousands of new residents every year. Although bring money and economic strength to buy their properties, have much to learn from the lifestyle and the rules that apply to residences. Especially those who do not come to live in the United States should inform themselves of the tax rules, but also of exemptions that may apply to them. It is important to know the obligations, but also rights.

As this is the first city in the United States in the number of visitors in 2012, according to data supplied by the Office of Conventions and Visitors Orlando, and because many of them fall in love and return to live here, today I bring an example Orange County to Orlando, Florida, belongs with information that applies only to properties that are in this region and in Florida. I joined close ties with them, because here alive.

But in every place you buy a home you must find the information you appropriate and is a standard that have some exemption if your main home and meet all the requirements established by each location.

Rick Singh, the Property Appraiser Orange County explains on its website, how to apply in your county, this “Homestead Exemption” as it is known in English.

When it comes to tax exemption and owners can listen to lower the tax value of the house, many wonder if it lowers the value of the property on the market. This is not, what it means is that it reduces the tax burden of each property, and saves the owner up to $ 750 annually in terms of property taxes. It is not an easy concept to understand for everyone, but if you are a homeowner in the US, you have surely requires you to pay your property taxes.

Anyway the best recommendation is to consult with your accountant or real estate attorney with any questions about this or any issue of taxes or laws, or to directly address the Office of the Property Appraiser of your place of residence.

According to Florida law, anyone who has legal title or beneficiary of a residence to use it as permanent. There are some who may qualify for a partial exemption.

It is required that the property is alive and who is a resident of the state, in this case of Florida, which is achieved if you live in the property.

US citizens or permanent residents.

Once requested for the first time, the exemption is renewed every January while the title does not change or the circumstances did you qualify.

If you move, you must reapply. The exemption is not transferable.

You could qualify for other exemptions that are available for the properties, including Veterans, widows, disabled or elderly people with limited incomes.

The 1st. March for people who lived in a house at the 1st. January each year.

Many buyers, in the heat of the excitement of buying, do not listen to the words of their real estate agents, who always stress that this exemption should be requested.

This is not automatic, nor will reach you letters telling you that you qualify for it. You have to do it.

You can request and obtain more information on the official website and if you are applying for exemption can do so in person, by mail or at the same website. In any of these forms you have to present your personal identification documents, proof of residency and property tax you send the government and ownership documents.