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New 2008 property tax Reforms:
In a January 2008 ballot measure, Florida voters approved
a constitutional amendment that introduced several changes
to our state's property tax system. The four changes may affect
the amount of tax you owe:
Increased Homestead Exemption: If you're currently
receiving a $25,000 homestead exemption on your property taxes,
you will automatically be upgraded to a $50,000 exemption this
year. If you are a homeowner and do not currently receive the
exemption, you may file your application in person along with
a $15 late fee, through mid-September.
Save Our Homes Portability Cap: You may
now trasfer up to $500,000 of your property tax cap to a
new home when you move. To take advantage of this benefit,
you must file a Homestead Exemption and Portability Application.
Tangible Personal Property Tax Exemption: If you're required
to file a Tangible Personal Property Tax Return, you're entitled
to a $25,000 exemption on business equipment.
Non-Homestead Cap: Beginning next year, those properties not
eligible for a homestead exemption may apply to receive a 10%
cap on property tax increases.
Homestead Exemption Overview:
FILING PERIOD JANUARY 1 – MARCH 1
Florida law requires that application be made by March 1st
to be eligible for the $25,000 Homestead Exemption. Only new
applicants or those who had a change of residence need apply.
Automatic renewals are mailed in January each year.
In Florida,
$25,000 of the assessed value of your home is exempt from
real estate taxes, but you have to meet certain criteria
to be eligible for the exemption. First you much have the
title or record to your property as of January 1, and reside
on the property. You have to be a legal and permanent resident
of Florida as of January 1. When applying for the exemption
status, bring along a copy of your deed or tax bill, and
a Florida county voters registration or Declaration of
Domicile. If you drive, you must also bring your Florida
driver's license and automobile registration. New applications
must be submitted in person at the appraiser's office,
but renewals may be done by mail. For further information,
consult the County Property Appraiser's Office.
Real Estate Taxes
All residents are subject to county taxes, but
each city or special district levies taxes within its
boundaries. City, special-district, and county taxes
are combined in one tax bill. Real estate taxes are assessed
as of January 1 each year. They are due and payable on
November 1 and become delinquent if not paid before April
1 of the following year. Florida law holds the taxpayer
responsible for receiving and paying tax bills in full.
For additional information contact the County Property
Appraiser's Office.
Establishing Residency
To establish residency, you may register
to vote or file a Declaration of Domicile, which
is an affidavit available at the CountyCourthouse.
Filing one copy with the Circuit Court provides a
record of your intention to make Florida your home.
Simply moving to the State does not guarantee legal
residency. For more information contact the County's
Clerk of Circuit Court.
What is Homestead Exemption?
Florida Law entitles every person, who has legal or
equitable title to real estate and maintains it as his/her
permanent residence, to apply for a $25,000 homestead property
tax exemption. A partial exemption may apply if the ownership
of the applicant is less than 100%.
Am I eligible to file?
You must meet the following requirements as of January
1st:
Have legal or beneficial title to the property,
recorded in the Official Records of County
Residency on the property
Be a permanent resident of the State of Florida
Be a United States citizen or possess a Permanent Residence
Card (green card)
When do I file?
The deadline to file an application for exemption
is March 1st. Under Florida law, failure to file for any exemption
by March 1st constitutes a waiver of the exemption privilege
for the year.
Regular filing is January 2nd - March 1st.
Pre-filing for the coming year is March 2nd - December 31st.
How do I file?
Take copies of the required documentation to your
Exemption Department:Generally at the County or City Court
House
Siding: Look for dents or buckling
Foundations: Look for cracks or water seepage
Exterior Brick: Look for cracked bricks or mortar pulling away
from bricks
Insulation: Look for condition, adequate rating for climate
(the higher the R value, the more effective the insulation
is)
Doors and Windows: Look for loose or tight fits, condition
of locks, condition of weatherstripping
Roof: Look for age, conditions of flashing, pooling water,
buckled shingles, or loose gutters and downspouts
Ceilings, walls, and moldings. Look for loose pieces, dry wall
that is pulling away.
Porch/Deck: Loose railings or step, rot
Electrical: Look for condition of fuse box/circuit breakers,
number of outlets in each room.
Plumbing: Look for poor water pressure, banging pipes, rust
spots or corrosion that indicate leaks, sufficient insulation
Water Heater: Look for age, size adequate for house, speed
of recovery, energy rating.
Furnace/Air Conditioning: Look for age, energy rating. Furnaces
are rated by annual fuel utilization efficiency; the higher
the rating, the lower your fuel costs. However, other factors
such as payback period and other operating costs, such as electricity
to operate motors.
Garage: Look for exterior in good repair; condition of floor—cracks,
stains, etc.; condition of door mechanism.
Basement: Look for water leakage, musty smell.
Attic: Look for adequate ventilation, water leaks from roof.
Septic Tanks (if applicable): Adequate absorption field capacity
for the percolation rate in your area and the size of your
family.
Driveways/Sidewalks: Look for cracks, heaving pavement, crumbling
near edges, stains.
www.REALTOR.org/realtormag Reprinted from REALTOR® Magazine
Online by permission of the NATIONAL ASSOCIATION OF REALTORS® .
Copyright 2003. All rights reserved
Information unique to buying a home in the Florida Keys”
As you may be aware, the environment that makes the Keys so
attractive to thousands of people is a fragile environment
the requires considerable attention to protect its health and
beauty. This fact has created a requirement for close management
of all activities that have or might have negative impact on
the environment now or in the foreseeable future. The result
is a number of "unique to the Keys" regulations and
procedures concerning property ownership. They are provided
for information purposes of broaden your understanding of what
is invalided when purchasing property in the Keys.
Flood Insurance:
The buyer must determine the insurability of the property against
flood damage by seeking the advice of a qualified insurance
agent. Structures built before January 1, 1975 (pre-firm)
are subject to rules governing substantial and non-substantial
improvements to pre-firm structures which may
limit the reconstruction, rehabilitation or addition
to the pre-firm structure. Structures built after January 1,
1975 that has enclosures below the Base Flood Elevation (BFE)
are typically not habitable. The existence of habitable space
below the BFE may require demolition or an increase in insurance
premium. Buyers should contact the Monroe County Federal Emergency
Management Coordinator or the City of Key West, City of Key
Colony Beach, City of Layton, City of Islamorada and City of
Marathon to ascertain how these rules may impact on the
property of interest.
Coastal Barrier Resources
System Act (CBRS):
Certain properties in Monroe County may be affected by the
Federal Coastal Barrier Resources System Act or proposed amendments.
For information contact the United States Department of the
Interior, the Monroe County Planning Department or your legal
representative. Property so designated is not eligible for
federally subsidized flood insurance as well as other benefits.
Land Use Disclosure:
Due to the unpredictable and constantly changing status of
the municipal, county and state regulations for property
developments in Monroe County each buyer should contact the
appropriate local government department(s) to determine how
the subject property may be affected by the Comprehensive
Plan and the action necessary to ensure compliance with the
plan. Additionally, a property may be affected by restrictive
covenants in the form of deed restrictions, Homeowners Association
Rules & Restrictions, etc. Every Buyer needs to inquire
about them. They also should inquire into state and local
governmental zoning and land use regulations and restrictive
covenants to determine whether the subject property is in
compliance with all state and local government laws, codes
and ordinances, and restrictive covenants.
Monroe County Growth Management Division, 305-289-2500
Key Colony Beach Building & Zoning, 305-289-0247
City of Key West, 305-295-1000
City of Layton, 305-664-4667
City of Islamorada 305-664-2345
City of Marathon, 305-289-2501
Monroe County Year 2010 Comprehensive Plan:
The use of the property may be affected by the Land Use Plan,
enacted September 15, 1986, revised 1/96 with subsequent
revisions due every five (5) years hence or the availability
of utilities and sewage disposal now or in the future. The
transient rental of single-family residences in I.S. districts
has been questioned by Monroe County and regulation by Local
or State government may restrict such rentals in certain
areas. Properly functioning septic tanks are the minimum
permissible on site sewage disposal systems (OSDS). An allocation
ordinance exists which limits the number of building permits
issued for residential dwelling units. Prior to signing a
contract, seek legal counsel or consult with the Monroe County
Planning and Zoning Departments. Monroe County is an area
of State Critical Concern that heightens the degree of regulation
by the State of Florida.
City of Key West Land Use:
The City of Key West has debated the definition of vacation
rentals and implementation of legislation to regulate, license,
permit or prohibits within the City limits of Key West. If
a Buyer is considering renting their property they should
discuss the status of this issue with the Key West Planning
Dept. to understand its impacts on the Buyer's proposed use
of the property.
Non-Conformities:
Structures and uses that do not conform to uses provided for
in the land use category that the property or use is located
in are considered non-conforming. Such uses and structures
are currently allowed to continue but they are not allowed
to be expanded, enlarged or continued if substantially destroyed
(more than 50% of the value of the structure). Zoning together
with the uses provided there under which do not conform to
the future Land Use Designations are considered non-conforming.
Furthermore, non-conformities are jeopardized if abandoned.
Buyers should to seek legal counsel or consult with the Monroe
County Planning and Zoning Department to determine whether
a property is non-conforming today or may be in the future.
Radon Gas:
Radon is a naturally occurring radioactive gas that, when it
has accumulated in a building in sufficient quantities, may
present health risks to persons who are exposed to it over
time. Levels of radon that exceed federal and state guidelines
have been found in buildings in Florida. Additional information
regarding radon and radon testing may be obtained from your
county public health unit. Pursuant to 404.056(8), Florida
Statutes.
Energy Efficiency Rating:
The Purchaser may have the Energy Efficiency Rating of the
building determined at buyers expense by a person certified
by the Department of Community Affairs.
Concrete Disclosure:
Various concrete structures in the Keys have been found to
contain excessive levels of Chloride. This has caused a condition
known as spalling which results from the rusting and expansion
of steel rebar which reinforces the concrete.
Sewage Disclosure Form:
The City of Marathon and unincorporated Monroe County have
taken steps to upgrade to central sewer systems. For questions
regarding the timing of the upgrades or estimated hook-up
fees, contact:
Monroe County Health Department
3333 Overseas Highway
Marathon, FL 33050
(305) 289-2450 -OR- City of Marathon
10045-55 Overseas Highway
Marathon, FL 33050
(305) 743-0033
Lead Base Paint Warning:
For homes, apartments or condominiums built prior to 1978.
Every purchaser of any interest in residential real property
on which a residential dwelling was built prior to 1978 is
notified that such property may present exposure to lead
from lead-based paint that may place young children at risk
of developing lead poisoning. Lead poisoning in young children
may produce permanent neurological damage, including learning
disabilities, reduced intelligent quotient, behavioral problems
and impaired memory. Lead poisoning also poses a particular
risk to pregnant women. The seller of any interest in residential
real property is required to provide the buyer with any information
on lead-based paint hazards from risk assessments or inspections
in the seller’s possession and notify the buyer of
any known lead-based paint. A risk assessment or inspection
for possible lead-based paint hazards is reconverted prior
to purchase