Travis County offers a 20% homestead exemption, the maximum allowed by law. The Commissioners Court also offers an additional $85,500 exemption for homesteads of those 65 years and older or are disabled.

Homestead Exemption: Every person who has legal or equitable title to real property in the State of Florida and who resides thereon and in good faith makes it his or her permanent home is eligible to receive a homestead exemption of up to $50,000.

When someone owns property and makes it his or her permanent residence or the permanent residence of his or her dependent, the property owner may be eligible to receive a homestead exemption that would decrease the property's taxable value by as much as $50,000.

Homestead exemption is $25,000 deducted from your assessed value before the taxes are calculated plus an additional homestead exemption up to $25,000 applied to the assessed value above $50,000. The additional exemption does not apply to school taxes.

“A homestead exemption saved the average Travis County property owner $1,876 on their taxes in 2023,” added Mann. “Exemptions continue to be the easiest and fastest way to lower your property tax bill.”

There are multiple ways to file a Homestead Exemption application Form 50-114, however the online option is the fastest, and details are provided in the transcript below.

To get a homestead deduction on your Florida taxes, you have to fill out an application form, the DR-501, and demonstrate proof of residence by March 1 of the year for which you wish to qualify.

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Property owners in Florida may be eligible for exemptions and additional benefits that can reduce their property tax liability. The Homestead Exemption is required for this exemption.To qualify for this exemption, the applicant must be a permanent resident of Florida as of January 1st of the application year. You would need to look on your Real Estate Tax Notice. Applicants must file a Form CC-501 – Original Application for Homestead and Related Tax Exemptions, to apply for the homestead exemption on the new homestead.

Homestead Exemption For Florida In Travis

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