Save Our Home Legislation

Q: How does the Save Our Home Legislation reflect in the property taxes on the Palm Beach County tax records?

A: Tax Records for Palm Beach County work like this: The Total Assessment represents the Property Appraisers appraised value of the property (Land plus Buildings). The Taxable value represents the maximum taxable value of the property under the Save Our Homes Legislation (for Homesteaded properties) less any exemptions for the property. Upon sale of a property, the Save our Homes value is no longer pertinent and new owners can assume that the new taxable value will be the Total Assessed value less any qualifying exemptions for which they qualify.

The Save Our Homes Legislation allows for a maximum of 3% increase annually of Taxable value regardless of properties assessed value increases as long as the property is homesteaded.

Posted by Donald Urschalitz P.A. at March 20, 2005 02:56 PM