Better Late Than Never. . .

The deadline to apply for Homestead Exemption and Tax Portability was the close of business on Monday, March 3, 2008, but it's not too late to file. If you file after March 4, 2008, state law requires you to file some additional paperwork and pay a $15 late filing fee. File online, in the Downtown Fort Lauderdale or Plantation Broward County Property Assessors offices, or at any of the Property Assessors outreach events throughout Broward. Through the month of March, Property Tax outreach events will be held on Thursdays from 11:00 am to 1:00 pm at Hollywood City Hall, 2600 Hollywood Blvd. Representatives will assist with homestead, senior, or other exemption applications and will answer questions about your property taxes. For additional information please visit: http://www.bcpa.net/ or call 954-357-5579.

Homestead not automatic, and new buyers must apply to receive the numerous benefits including, but not limited to:

• The homestead exemption is doubled going from $25,000 to $50,000 on homes valued at over $75,000.
• People will still have the benefit of Florida 's Save Our Homes amendment which caps the tax increase on a single family home up to 3% a year on homesteaded properties.
• Tax Portability allows taxpayers who sold a homesteaded property in 2007 and purchased a home before January 1, 2008 t o apply some or all of their Save Our Homes tax benefits to their new homes.

Portability is not automatic. People who applied for a homestead exemption on their new homes must complete a separate application to transfer the Save Our Homes benefit to the new homestead.

• A 10 percent cap on annual assessment increases for non-homesteaded properties does notapply until next year.

For the portability forms please visit: www.lori.bcpa.net.

For more information from the Broward County Property Appraiser please visit: www.bcpa.net. Lori Parrish is the Broward County Property Appraiser. She responds to all questions in a timely manner and is a concerned and caring official.

If I can be of any additional guidance please don't hesitate to contact me at: 954-862-2631. Please visit my website for the latest in real estate news, as well as helpful information for buyers, sellers and real estate professionals!