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[T]he statute prevents “a person who is obtaining or professing the good thing about an advert valorem tax exemption or a tax credit in Yet another condition where by long term residency is necessary as being a foundation to the granting of that ad valorem tax exemption” from also proclaiming a Florida homestead exemption. § Slide Cash Loophole 196.031(5).
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But Exactly what does "bona fide" mean? which is significantly from crystal clear. Aided by lax court docket rulings, developers have seized on that ambiguity by leasing out their land to cattle ranchers when they prepare to construct, typically shaving many 1000s of pounds off their tax expenses.
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experienced an out-of-condition residence. The impression proven as results of undeniable fact that the homeowners ended up long lasting point out citizens, and therefore ended up entitled to homestead residence tax exemption, Despite the fact that they obtained $100 per year residency-based mostly assets tax credit score in One more point out for a summertime residence.
Other individuals have obtained the split following starting up design. In its unsparing, 2005 investigation of the greenbelt law, reporters from the Miami Herald visited so-named farmland wherever they encountered cows ingesting trash in grassless fields and dead animals decomposing from the Dust. Listed below are few their descriptions:
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The house appraiser's office in Each individual county administers Homestead Exemption legal guidelines in Florida. As enforced by these workplaces, the area 196.031(five). provision has demonstrated to generally be a painful "gotcha", and not simply as a result of monetary strike within the loss of exemption for The present tax 12 months.
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