Will Save Our Homes Property tax exemption in Florida remain intact during sale of the property and closure of the estate.

Asked over 3 years ago - Melbourne, FL

Will Save Our Homes Property tax exemption in Florida remain intact during sale of the property and closure of the estate.

Attorney answers (2)

  1. April Denise Hill

    Contributor Level 11
    Best Answer
    chosen by asker

    Answered . Save our homes applies only to the person or persons that own and live in a home. The protection is usually lost on the death of the owner unless there is a spouse or minor child. Even though it is lost at death, no additional payment is required until the next year's taxes are due.

  2. Samuel John Saad III

    Contributor Level 8

    Answered . This is an interesting question. During the probate, if the property is still used by as homstead (i.e by the surviving spouse and/or childred), then yes SOH will apply. If the property is converted to non-homestead property (i.e. rented) and the probate remains open past January 1, then you may lose the SOH cap.
    Sam J. Saad III

    Law Office of Sam J. Saad III, PA
    1575 Pine Ridge Road, Suite 16
    Naples, FL 34109
    Office: (239) 963-1635
    Fax: (239) 791-1208
    Cell: (239) 784-5556
    www.saadlegal.com

    IRS Circular 230 Disclosure: Any advice contained in this communication cannot be used for the purpose of avoiding penalties under federal tax laws.

Related Topics

Property tax

Property tax is a levy local governments assess on property, usually based on its value, to pay for local services like schools, public safety and road repair.

Property tax exemptions

Property tax exemptions lower the taxable value of your home, which lowers your taxes, and can include homestead, senior citizen, and disabled owner exemptions.

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