Archives for January 2019

Recently buy a new home? If your property in Florida is your primary or permanent residence, then you probably qualify for homestead exemption.

What exactly is homestead exemption?

A property tax exemption that allows you to deduct up to $50,000 on the value of your property. In the state of Florida, an exemption is applied to the 1st $25,000 in value of your primary or permanent residence. To be eligible, you have to own the property on January 1st of the tax year. This reduction in tax basis is applicable to all assessed taxes, including school district taxes. There is an additional $25,000 exemption that is applied if the assessed value of your home is between at least $50,000 and $75,000, and applies to property taxes with the exception of school district taxes.

More importantly, with homestead eligibility you are eligible for the Save Our Homes benefit. This benefit affects the assessed property value your home, the value used to calculate your property taxes. This amount cannot increase more than 3% annually after you’ve been granted exemption for the first year.

How do I apply for homestead exemption?

To apply you will need the following:
Proof of FL Residency
FL Car Registration
FL Voter ID Card
Proof of Citizenship or Permanent Resident Card
Social Security Numbers for Title Holder(s)
Property Address from Tax Bill, Deed or Title

Be sure that all documents reflect the address of the property you wish to homestead. You must file for application by March 1st of the current tax year, however applications are taken year round. Under FL law, failure to apply timely for the year constitutes a waiver of the exemption privilege. You can file online, by mail or in person. If you live locally visit Hillsborough County Property Appraiser.

Do I need to renew every year?

No. Once you have received the homestead exemption it is renewed annually until title has changed or the property is no longer your primary residence.

Does my homestead exemption follow me to a new home?

No. However, the exemption will remain on the property for the remainder of the year. You will need to file for a new exemption at your new property.

What about portability?

If you had homestead on another Florida property within the last two years, you may be able to bring the Save Our Homes savings accumulation with you to your new property. To do this, you will need to submit a separate application with your homestead exemption application. This benefit is not automatic and the savings will be lost if you do not apply timely.

Still have questions?

Contact us by phone at 813.777.4720 or email at kim@klaceandcompany.com.

Or visit the Florida Department of Revenue for more information on the homestead exemption or to learn about other ways that may help you save money on your property taxes.

The invasion is just days away. If you have spent any time in Tampa you know that these words start a whirlwind of decorating and acquiring pirate booty along with plenty of refreshments for the celebration rather than any sort of real fear.

Gasparilla is a tradition with something for everyone from parades, to a marathon, art festival and more. We thought it would be fun to share some of our favorites for embracing the season after the Season!

First, home décor can be lot’s of fun. A Gasparilla wreath or door décor is a must. Here are a few from simple to elaborate:

We are also big fans of flags whether you hang them from a flagpole, door or tree.

We even decorate inside. Here is a great Pirate ship beverage container, a fun pillow or mantel decor:

Other musts include kids gear found locally or at some national retailers on sale right after Halloween. And don’t forget a little something for yourself!

Hope everyone enjoys this Gasparilla Season! Be safe and have fun! ARRGGH

Check out this link to get more information on all the festivities:

For our history fans check out what Wikipedia has to say about our Gasparilla Pirate Festival’s history:

“The Gasparilla Pirate Festival is a large parade and a host of related community events held almost every year since 1904 in Tampa, Florida celebrating the apocryphal legend of José Gaspar (also known as Gasparilla), a mythical Spanish pirate who supposedly operated in Southwest Florida in the early 1800s. 

Tampa’s Gasparilla season runs from mid-January to early March and features three large parades. The focal point of Gasparilla is the Parade of Pirates, which features a friendly invasion by Ye Mystic Krewe of Gasparilla and a large parade along Bayshore Boulevardinto downtown. The Parade of Pirates (which is often referred to as the Gasparilla Parade by locals) is held on the last Saturday in January. It is the third largest parade in the United States with an economic impact of over $20 million and an average attendance of about 300,000.^[1] Other major parades during the season are the Gasparilla Children’s Parade, which is held on Bayshore Boulevard one week before the main parade, and the Sant’Yago Illuminated Knight Parade, which is organized by the Krewe of the Knights of Sant’Yago in the historic neighborhood of Ybor City two weeks after the main parade.

Tampa hosts many other Gasparilla-related or monikered events during its Gasparilla season, including the Gasparilla Film Festival, the Gasparilla Festival of the Arts, the Gasparilla Distance Classic, and the Gasparilla Music Festival, with a changing lineup of smaller events held year to year. The Gasparilla Parade of Pirates once coincided with the Florida State Fair, which was held at Plant Field at the end of the traditional parade route in downtown Tampa. The close connection between the fair and Gasparilla ended in the mid-1970s, when the fair moved to a much larger location east of Tampa.”