What are the common exemptions to property tax?

In Florida, there are a number of common exemptions to property tax. The most common are homestead exemptions, which are available to homeowners who live in their home full-time and who meet certain income requirements. These exemptions can reduce the amount of property taxes paid by up to 75%. Another common exemption in Florida is the Save-Our-Homes amendment. This amendment makes sure that homeowners do not pay more property taxes than they did the previous year if the market value of their home has not increased. Florida also offers a number of other exemptions for homeowners. One is the widow’s, widower’s, and disabled veteran’s exemption. This exemption enables these individuals to receive an exemption on some of the value of their home. In addition, Florida also offers other exemptions for certain types of property. For example, senior citizens may be eligible for a discount on their property taxes for up to 10 years. Qualified non-profits may also be exempt from paying property taxes. Finally, some counties in Florida also offer additional exemptions for certain circumstances. For example, some counties may offer disability exemption to property owners who are disabled, or a low-income exemption for those who meet certain income requirements. In summary, common exemptions to property tax in Florida include homestead exemptions, the Save-Our-Homes amendment, the widow’s, widower’s, and disabled veteran’s exemption, discounts for senior citizens, exemption for certain non-profits, and additional exemptions for certain counties.

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What are the common exemptions to property tax?

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