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Beyond the Hedges: Buyers hope to homestead for the holidays

Posted On: 12-13-2013

By Darrell Hofheinz Daily News Staff Writer

If your real estate agent or property attorney seems more harried than usual, there’s a reason — and it’s not just the holiday rush.Instead, it has everything to do with the homestead crush.As they do each year, many industry pros have been working for weeks to close Palm Beach sales by the end of this month. Why? Because their clients are homebuyers who are new to the state and want to qualify for a homestead tax exemption on their property-tax bills next year.

The rules are complex, but here’s the gist: To earn the credit, an owner must qualify as a Florida resident as of New Year’s Day and meet eligibility criteria, including owning and occupying his or her primary home here.Applications for the exemption aren’t due until March 1.

To read more, click here: http://www.palmbeachdailynews.com/news/news/local/buyers-hope-to-homestead-for-the-holidays/ncH6r/

Source: Darrell Hofheinz, December 13, 2013, Palm Beach Daily News

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