Alpo Posted September 12, 2020 Share Posted September 12, 2020 Homestead exemption. I don't know if other states have this, but here in Florida you can get an exemption on property taxes if you live on the property. The piece of property where you live, you do not get taxed on the first $25,000 of value. You also did not get taxed on the third $25,000 of value. So if I were to own a $40,000 house, I get taxed on $15,000. And if I owned a $70,000 house, I would get taxed on $25,000. Now after $75,000 I don't believe there are any further exemptions. When I moved into my house, in February of 1991, I discovered that I would not get the homestead exemption that year, because you have to be living in the house on January 1. So my ponder. If I buy a piece of property, and start to build a house, but the house is not livable by 1 January, and I am not able to get into the house until, oh let's say, 10 January. Could I claim the exemption? Since I own the property and was building my homestead? Probably not. Then I thought - what if it was obvious to me my home would not be ready for occupancy by one January, so long about 27 December I bring in my RV and hook it up to the electric and the water, and live in my travel trailer until my house is ready to move into. Do you suppose I would qualify for the homestead exemption that way? I'm sure that unless they work for the property appraiser of some county in the state of Florida no one here will know the answer. So I'm just looking for opinions. Link to comment Share on other sites More sharing options...
Marshal Mo Hare, SASS #45984 Posted September 12, 2020 Share Posted September 12, 2020 Here in NH, you would get taxed on the undeveloped land without the house. I believe the date was April one.. Link to comment Share on other sites More sharing options...
Utah Bob #35998 Posted September 12, 2020 Share Posted September 12, 2020 My property tax here on my 40 acre place is $200. It would be less if it was still designated Agricultural but I let that lapse years ago. I can afford the 2 Benjamins a year. Link to comment Share on other sites More sharing options...
Loophole LaRue, SASS #51438 Posted September 12, 2020 Share Posted September 12, 2020 30 minutes ago, Utah Bob #35998 said: My property tax here on my 40 acre place is $200. It would be less if it was still designated Agricultural but I let that lapse year ago. I can afford the 2 Benjamins a year. Acre and a half with primary home - taxes are $10,000/yr. House will be for sale shortly. Cottage on the Cape is $2500/yr. - a much more affordable option for an old retired guy. LL Link to comment Share on other sites More sharing options...
Sedalia Dave Posted September 12, 2020 Share Posted September 12, 2020 Here you have to actually be in residence before you can apply for a homestead exemption. As for the new home I suspect the building inspector will have to sign off on the house before you can occupy it so living in your RV on hte property likely will not do you any good. Link to comment Share on other sites More sharing options...
Muleshoe Bill SASS #67022 Posted September 12, 2020 Share Posted September 12, 2020 Alpo, every state has different laws and regulations on this issue. You can probably find answers to your questions by running an internet search for the tax appraisal authority for your county and then reading their regulations. Perhaps calling the tax appraisal people could answer your question too. Link to comment Share on other sites More sharing options...
watab kid Posted September 13, 2020 Share Posted September 13, 2020 your overthinking and they beat you too that - every angle will get you a worse case scenario till you loose the future exemption if your not careful , im not a lawyer - you could employ one , but i bet they have already seen every thing you come up with to circumvent and will block you at every turn , finish the house Link to comment Share on other sites More sharing options...
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