Florida provides a standard $25,000 Homestead Exemption to residential property owners who qualify for the tax savings benefit. Every person who has legal title to a residential property in Florida and lives there permanently qualifies for the state’s standard $25,000 exemption.

An additional Homestead Exemption benefit up to $25,000 relates only to properties with an assessed value greater than $50,000 to $75,000.

For more information about the available exemptions, visit the Palm Beach County Property Appraiser’s website, www.pbcgov.com/PAPA , or call Exemption Services at 561.355.2866.

Residential property owners with an existing Homestead Exemption can transfer a portion of their tax savings to a new residence. You can apply for Portability when you apply or the standard Homestead Exemption on your new property. The deadline to apply for all new exemptions is March 1 of the qualifying year.

Owners of non-homesteaded properties, such as second homes, may qualify for a 10 % exemption benefit on the assessed value.