March 1 is the deadline to apply for the $25,000 Homestead exemption on your home if you purchased a home in 2003. What do you need to qualify for the exemption?
All you need is to hold the legal title to a home and to use it for your primary residence. To qualify for this year’s exemption, you would have had to claim your home as your primary residence by Jan. 1 of this year. Investment property does not qualify for the Homestead exemption because it is not a primary residence, which is the residence where you live.
The exemption is typically renewed each year on Jan. 1. There are also other exemptions that you may be eligible for, as well, including the Homestead exemption. It’s always good to know these things when you own your own home, or if you are considering purchasing one. To find out more information on how you can attain the Homestead exemption for your home, visit MyFlorida.com.