Any person entitled to claim Homestead Exemption may qualify to defer all or part of their current property taxes based on the applicant’s federal adjusted gross income for the previous year.
Anyone may defer that portion of the bill which exceeds 5% of the adjusted gross income of all members of the household for the prior year.
Anyone 65 years of age or older may defer that portion of their tax bill which exceeds 3% of the adjusted gross income of all members of the household for the prior calendar year, or the entire tax bill if the applicant's household income for the prior calendar year is less than $10,000.
Anyone 65 years of age or older with an annual adjusted gross income for the prior calendar year less than $20,000 or such higher amount adjusted annually under section 196.075(3), Florida Statues, may defer the entire amount of taxes and any non-ad valorem assessments.
Deferred taxes are a first lien on the property, and the owner is required to provide proof of fire and extended coverage with a loss payable clause to the Tax Collector. If there are any changes in Homestead Tax Deferral status, or failure to maintain insurance, or a change in ownership of the property, all deferred taxes plus interest are due and payable.
An application to determine eligibility must be submitted to the Tax Collector for approval between November 1st and March 31st.