The following article is from the Town of Jupiter’s December newsletter, The Town Times. The Super Exemption is a hot topic here in Jupiter, as I’m sure it is all over Florida. For more information, you can view our previous post, Residential Homestead Property Tax Simulator for Florida. Susanne Quirk
Voters in this January’s primaries will be making important decisions impacting the future of our National Leadership. But in Florida, voters may also be determining the future of our Property Tax system – the so-called “Super Exemption” for homesteaded properties.
Recently, the super-exemption ballot language came under fire when challenged in court. The Judge ruled that as stated, it was unconstitutional and confusing to voters. However, with special sessions fast-approaching, it is likely that this language will be revised and some form of the amendment will be on the January ballot.
If passed as outlined, the super-exemption will provide tax-payers with the option to move to a new formula for determining their Homestead Exemption. Under the current program, Homesteaded properties in Florida receive a $25,000 exemption. Under the new, proposed super-exemption, the amount would not be fixed, but would be determined based on the value of the property.
In some tax-payers’ cases, this would provide additional tax savings now and for some time into the future. However, some taxpayers may find the current system is more beneficial. Because of this, the Legislature added an exception, but it carries a “no turning back” provision. Florida residents who prefer the current system can elect to stay with it, but once they register under the new, super-exemption they cannot turn back to the old.
The Town of Jupiter has created a tax calculator on its web-site to help residents understand the potential impact to the Town’s portion of their tax bill. And the Palm Beach County Property Appraiser’s site has information on current property values, and a program to help calculate the impacts of future changes. The Florida House of Representatives and the Florida Senate websites are also good resources for following the Property Tax Reform debate.
With the recent court ruling and the potential for more changes to the amendment, it is more important than ever for Florida voters to be informed when they go to the polls in January. Whether you own a Homesteaded property now, or intend to in the future, it pays to understand the potential impacts of a super-exemption on your individual household, and your local government.
Visit the Palm Beach County Appraiser’s website to calculate the impact of the homestead exemption to your property. You will need to find your current property value by doing a Records Search. Then click on the “Taxable Value Calculator”. For Property Tax Reform information, click on “Proposed Property Tax Reform” from the homepage.
Visit Florida House of Representatives to view Florida Property Tax Relief and Reform Documents.
For more information on tax reform you can visit the Florida Senate Finance and Tax Committee.