Posted in Real Estate Law,Tax Law & IRS Defense

As most Florida homeowners know, the Florida Constitution provides for a valuable homestead tax exemption. In general, to qualify for this exemption under Section 196.031 of the Florida Statues, you must have legal or beneficial title to your home and in good faith make the home your “permanent residence” as of January 1^st.  Determining whether you make the home your “permanent residence” can be complicated for those who have multiple homes or sometimes rent the home on occasion.