Homestead Exemption for Seniors with Limited Income
The Senior Exemption is an additional property tax benefit available to homeowners 65 and older, who meet certain income limitation requirements.
To qualify for this exemption homeowners must meet the following criteria:
- The property must qualify for a homestead exemption
- At least one homeowner must be 65 as of January 1
- Total ‘Household Adjusted Gross Income’ for everyone who lives on the Property cannot exceed statutory limits.
Additional homestead exemption for low-income seniors who maintain long-term residency on property
Effective for 2013, a new law authorizes cities and counties to grant additional homestead property tax relief to low-income seniors who have lived in their home for at least 25 years. In short, it would allow local governments to eliminate the ad valorem portion (taxes based on the value of a home) of the tax bills for qualifying seniors.
Homeowners who meet the following requirements are eligible:
- Age 65 and older
- Have a household Adjusted Gross Income less than $27,590 (This income limit typically excludes social security benefits). Persons who file a Federal Income Tax Return should review the Adjusted Gross Income line on their return, to determine their adjusted gross income
- Own a home with a market value of less than $250,000
- Have lived in the home for at least 25 years
This exemption benefit is a “Local Option” which means county and city governments can decide whether or not to implement its provisions. To apply, please complete both of the following forms:
So far, the following Taxing authorities have adopted this new exemption for 2013:
- Bay Harbor Islands
- City of Homestead
- Cutler Bay
- Hialeah Gardens
- Miami Beach
- Miami-Dade County
- Miami Lakes
- North Bay Village
- North Miami
- Palmetto Bay
- Virginia Gardens
Notice: If you qualify for this new additional exemption you likely qualify for the regular senior exemption.
As of 2013 the senior exemption will be automatically renewed annually. However, homeowners benefiting from this exemption must notify the Property Appraiser’s Office if they no longer meet the eligibility requirements.
Automatic Renewal receipts are mailed by February with income limit information. If you no longer qualify for the senior exemption, sign the cancel portion of the renewal receipt and return by March 1st to:
PO BOX 013140
Miami, FL 33140
Applying for the First time
Applicants who meet the criteria must file an application (DR-501SC) by March 1st. Proof of income such as Federal Income Tax Returns and Social Security Statements are required to determine eligibility.
Applications are due by March 1st. Supporting income is due no later than June 1st.
See how much you can save with your Senior Citizen Exemption.