04-24-2022, 08:11 PM
(04-24-2022, 07:56 PM)NightskyeB4Dawn Wrote:(04-24-2022, 07:40 PM)DaphneApollo2 Wrote: What States do you both live in?
I live in MS in the south. Look up Homestead Exemption for your region.
I have had a homestead exemption in Florida for years. The exemption reduces the value of your property by $50,000.00. You can get and additional $25,000.00 off after age 65, if you have a household income of less than $30,000.00 a year. You still pay taxes on the adjusted value.
In Florida:
Quote:If the assessed value of your property is $50,000 or less, there will be no change in the exemptions for your property. If the assessed value of your property is greater than $50,000, you will receive up to $25,000 for the extra homestead exemption.
If my house is valued at $400,000.00, I get taxed on $350,000.00.
When they inflated the value of my home to $800,000.00, I get taxed on $750,000.00.
There exemption becomes useless.
That sucks!
The government will find a way to screw us over every time. I’m staying out of Florida. Terrible!