Homestead exemption is one of the greatest benefit for homeowners in Citrus County. This exemption could provide you with an approximate annual savings of $500.
Every Person who:
may receive a property tax exemption up to $50,000. The first $25,000 applies to all property taxes. The added $25,000 applies to assessed value over $50,000 and only to non-school taxes.
The deadline filing date for Homestead exemption is March 1st of the year in which you wish the exemption to begin. Homeowners who owned and occupied their residence after January 1 are encouraged to pre-file an application for the next year.
Beginning the year after you receive homestead exemption, the assessment on your home cannot increase by more than the lesser of the change in the Consumer Price Index or 3 percent each year, no matter how much the just value increases. If you have moved from one Florida homestead to another within the last three years, you may be eligible to take some of your SOH savings with you..