The landscape of Florida has seen rapid change over the last several decades, and none has been more drastic that the urbanization and development of Florida’s farms and agricultural areas. With increased development comes higher property values and increased property taxes. In an effort to assist farmers and agricultural landowners, the Florida Legislature passed bills

The filing period for submitting applications for ad valorem property tax exemptions to the county Property Appraisers opened January 1, 2011.  If you believe you might qualify for such exemption for your 2011 property taxes, you must file your application with the Property Appraiser before March 1, 2011.  The two most common exemptions applied for include:

The filing period for submitting applications for ad valorem property tax exemptions to the county Property Appraisers opened January 1, 2011. If you believe you might qualify for such exemption for your 2011 property taxes, you must file your application with the Property Appraiser before March 1, 2011. The two most common exemptions applied for include:

  • Homestead Exemption: Those who qualify for a homestead exemption can seek up to two (2) $25,000 exemptions (for a potential combined total of $50,000) from their home’s assessed value. Basic criteria are that the applicant is a bona fide Florida resident possessing title to the property and residing at the property on January 1, 2011 as their permanent residence. There are other criteria and many exceptions as well.
  • Agricultural Exemption: The property must have been used for a bona fide commercial agricultural use as of January 1, 2011. The applicant is asked to submit various supporting information, including financial documents, to support an agricultural classification on the property.

Other ad valorem real property exemptions include, among others:

  • Senior Exemption
  • Widow/Widower Exemption
  • Veterans Disability Exemption

There are a host of exemptions applicable to tangible personal property as well. Applications for these exemptions, as well as additional information on each, can be found on your local Property Appraiser’s website.

For those interested in some recent case law addressing the homestead and agricultural exemptions, see below.Continue Reading Property Tax Exemption Filing Window Now Open – Be Sure to File Before it Closes!

It is commonly known that a buyer should perform due diligence before purchasing property. If the buyer fails to perform due diligence (obtaining a building inspection, phase I environmental report, mold inspection, Chinese Drywall inspection, survey, etc.) the buyer may incur significant unanticipated post-closing costs and liabilities.

When purchasing property at a foreclosure sale or a property that has recently been foreclosed, a buyer must be even more diligent in his or her inspection of the property and title to the property since the buyer, in most cases, is purchasing the property “as is.”

In any type of purchase, a buyer must be concerned with the title to the property. This is especially important in today’s market since so many properties are in foreclosure. What if the foreclosure suit named the wrong lender as the plaintiff? What if a junior lien holder was not named in the foreclosure suit? These situations and many other situations can leave a buyer with title to a property that is not insurable and can cost the buyer thousands and sometimes tens of thousands of dollars to correct.

Most title companies do not understand the complexity of legal matters involved in a foreclosure suit. Further, a title company does not represent either the buyer or the seller in a real estate transaction and cannot provide legal advice to either party.  Continue Reading Avoiding Costly Mistakes When Purchasing Property in Today's Market