Mortgage News

Voters approved a constitutional amendment Jan. 29 that doubled the homestead exemption, allowed homeowners to transfer their homestead exemption benefits, capped property tax growth on nonhomesteaded property and set a $25,000 exemption on tangible personal property for businesses.

Some of those changes will require no action from property owners at all. But Monday is the first deadline for a portion of the amendment.

The portability part, allowing a homeowner to transfer their Save Our Homes Benefit, was retroactive to Jan. 1, 2007.

This potential transfer affects all individuals who sold or moved out of their homesteaded property anywhere in Florida during 2007 and were living in their new primary residence by Jan. 1, 2008.

In order to apply for the transfer, the homeowner must fill out the proper form with the property appraiser in the county where they now live.

In addition, the deadline for homeowners to file their homestead exemption is also Monday. But it's important to remember that even if new homeowners have already filed for their homestead exemption, they still must fill out a separate form to apply for the portability of Save Our Homes.

APPLYING FOR PORTABILITY

To apply to transfer your Save Our Homes , either contact your local property appraiser to receive a copy of the form, or visit the Florida Department of Revenue website at http://dor.myflorida.com/dor and click on the link "Save Our Homes" Portability. If you e-mail your form to your property appraiser, you must do so in a format that includes your signature, which must be on file in your property appraiser's office. Every county has different rules about applying.