I have encountered a lot of confusion lately regarding the import of the term “homestead” under Florida law. At its most basic level, homestead is a Florida resident’s primary residence. Designation as homestead, however, carries several important benefits and burdens.
Homestead is found in 3 different contexts under the Florida Constitution: (i) taxation in Article VII,
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Most property owners know that property taxes are due on November 1 of each year, and are considered delinquent if not paid by April 1 of the following year. Taxes paid early receive a discount of up to 4% if paid in November, which decreases by 1% each subsequent month until March when there is no discount.
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On about July 21, 2010, Governor Crist issued Executive Order 10-169, which authorizes the Property Appraiser’s offices in counties affected by the Deepwater Horizon spill, which includes the coastal counties of the Tampa Bay area, to provide taxpayers with an interim assessment for claims purposes only.
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Two important federal legislative developments just recently occurred.
First, Congress passed the Homebuyer Assistance and Improvement Act (H.R. 5623), which extends closing deadline for purchases to qualify for the first time home buyer tax credit. The extension applies only to contracts that were in effect as of April 30,
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Effective July 1, 2010, Senate Bill 1196 has become law. While SB1196 implemented a number of changes to Chapters 718 (condominium associations) and 720 (homeowners’ associations) of the Florida Statutes, there are several changes in particular which directly impact the answers to questions we have often received from clients:
Association Records
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