Will Save Our Homes Property tax exemption in Florida remain intact during sale of the property and closure of the estate.
Elder Law Attorney
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.
Real Estate Attorney
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
IRS Circular 230 Disclosure: Any advice contained in this communication cannot be used for the purpose of avoiding penalties under federal tax laws.