Save Our Homes FAQ - Seminole County Property Appraiser

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Go to www.scpafl.org
Select Record Search
Input your property information to bring up your
Parcel Detail Page and click on “Savings Due To
SOH” for further explanation
from your
January 1
◆ Date of Assessment.
◆ Tangible Personal Property Tax returns
are delivered.
March 1
◆ Deadline to file for an exemption that you
may qualify for.
April 1
Filing deadline for Tangible Personal
Property tax returns.
◆
Tax Differential
August
TRIM notices are mailed, the exact
date varies.
Click here for
further explanation
What IS “Save Our Homes”?
How does it affect a
homestead property's
assessment?
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2003 VALUE SUMMARY
Tax Value (without SOH):
2003 Tax Bill Amount:
Savings Due to SOH:
2003 Taxable Value:
Property Tax
Experts
$2,183
$1,679
$504
$97,923
DOES NOT INCLUDE NON-AD VALOREM
ASSESSMENTS
September
◆ Deadline to file an appeal to the Value
Adjustment Board; check the TRIM notice
for the exact date.
November 1
Tax bills are mailed by the Tax Collector.
When does it no
longer apply?
Where can you find your
valuation information?
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1101 E. First Street, Sanford, FL 32771
Tel: 407.665.7506 • Fax: 407.665.7924
www.scpafl.org
www.scpafl.org
www.scpafl.org
January 1st FOLLOWING the year of transfer and the tax
bill arrives in November of that year, the SAVE OUR
HOMES Cap will be removed and the new owner will see
a substantial increase in taxes to be paid.
from your
“Save Our Homes”
Property Tax Experts
What is Save Our Homes (SOH)?
The "Save Our Homes Amendment" was
passed by a Florida citizen's initiative on
November 3, 1992 and became effective
January 1, 1995 as an amendment to the
Florida Constitution. This amendment DOES
NOT apply to non-homestead property.
It stated that the annual assessment of
homestead property shall not exceed the
lower of either three percent (3%) of the
assessment for the prior year or the percent
increase in the Consumer Price Index (CPI).
What properties are not subject
to Save Our Homes?
Residences without homestead, vacant land,
non-residential property, agricultural, tangible
personal property and homestead property
that has sold or otherwise conveyed to a new
owner during the calendar year ARE NOT
eligible to receive the SOH assessment
limitation.
Only homestead property that remains under
the SAME OWNERSHIP during the calendar
year qualifies for the limitation.
For example: A buyer purchasing after
January 1st shall inherit the benefit of the
seller's homestead for the current year.
However, when the property is reassessed on
How do I qualify for the benefit
of SAVE OUR HOMES?
The new owner(s) must apply for homestead exemption.
Once a new owner applies for and receives homestead
exemption on his property, then the SAVE OUR HOMES
Cap on increases in the assessment will commence for
the year FOLLOWING the homestead exemption
approval.
What happens if the property is sold?
An important point sometimes overlooked; when
property is sold, it causes the SAVE OUR HOMES Cap to
be removed. As of January 1st FOLLOWING the date of
transfer to a new owner, a reassessment will occur
resulting in a substantial increase in the assessment and
November tax bill.
IMPORTANT NOTICE ABOUT SAVE OUR HOMES
What happens if I add or subtract
names on my deed?
A change in title to property could cause the SAVE OUR
HOMES Cap to be removed. You must re-apply for
homestead if you change the deed to property. As of
January 1st following the transfer or change in title, a
reassessment will occur with a substantial increase in the
following November tax notice.
Parents who add their children to the title of real property
in an effort to avoid probate might experience an increase
in property tax. For this reason, when making a change
or transfer of title it is important that you contact your
attorney for the proper wording for the new deed to
assure the continuation of the homestead exemption and
SAVE OUR HOMES Cap.
What about improvements or additions
to the property?
The full market value of physical alterations to the
property such as additions or improvements (not
including normal maintenance) will be added to the
property's assessment after the SAVE OUR HOMES Cap
has been applied to the qualifying homestead property.
If you have further questions regarding SAVE OUR
HOMES call 407-665-7506.
Your understanding of SAVE OUR HOMES (SOH) will help
you avoid being surprised by higher real estate taxes.
The potential for a substantial increase in assessed value and
property taxes is not often a topic discussed during the
negotiation of a property purchase.
Property taxes for a new buyer are almost always more than
those of a former owner due to the removal of the SAVE
OUR HOMES Cap on homesteaded property.
View your property parcel information on-line at
www.scpafl.org and you will be able to see the SAVE OUR
HOMES savings detailed in the value summary column
on the Parcel Detail Page. This break out will enable
you to calculate the property taxes without the SAVE OUR
HOMES Cap.
Your Source for Property Information
The Seminole County Property Appraiser is charged
with the responsibility of assessing all property within
Seminole County fairly and equitably according to
Florida law and making that information readily
accessible.
Neither the Property Appraiser nor his staff set tax
rates or determine the amount of taxes that are due.
That is the responsibility of the various taxing
authorities such as the city and county commissions,
the local school board and others.
For information regarding your property go on-line at
www.scpafl.org.