New Homestead Tax Amendment Proposed for Florida ‘Hometown Heroes’

All Florida homeowners are able to claim a homestead tax exemption on their primary residence. This helps to reduce the taxable value of your property and save money on your annual taxes. Currently, homeowners can exempt $25,000 on the first $50,000 of your home’s value. An additional $25,000 homestead exemption can be applied to assessed values of $50,000-$75,000. Any home value assessed above $75,000 is taxable under Florida law. Many Florida homeowners rely on the annual exemption to lower their expected tax bill.

A new amendment has been proposed to help those that are being called, ‘hometown heroes.’ The amendment calls for an additional homestead exemption of $50,000 to be applied to assessed home values between $100,000 and $150,000 for residents whose professions qualify under the proposed amendment. The amendment was brought before the Florida House in late February, and it was unanimously passed.

Who are ‘hometown heroes?’ As referred to in the amendment, the bill is seeking to benefit essentially front-line workers and public servants. Included among those whose professions are applicable are police officers, firefighters, paramedics, emergency medical professionals, teachers, active military personnel, Florida National Guard members, correctional officers, and child welfare and protection professionals. These important individuals, who are being recognized as the critical public service workforce, are poised to receive tax breaks that will amount to more than $80 million next year alone.

The Hometown Heroes Amendment, also known as HJR 1, just passed unanimously in the Florida House. The next step is to be brought before the Florida Senate next week in a meeting of the Senate Appropriations Committee for approval. If it passes the Senate, as it is expected to, it will be up for public approval in November.

There is no doubt that the critical public service workforce is imperative to the daily living of all Americans, and the Florida state government has come up with a way to help those that help us everyday.

If you are a first responder, classroom teacher, active duty military, or any other member of the critical public service workforce and are looking to purchase a home for sale in the Florida Keys, you could receive the benefits of the extra homestead exemptions as early as next year, if HJR 1 passes.