Thinking about ways to lower your New Port Richey property tax bill this year? If you live in your home as your primary residence, the Florida homestead exemption can provide real savings now and protect you from big assessment jumps later. You want clear steps, deadlines, and what to expect in Pasco County. This guide explains eligibility, filing, Save Our Homes portability, and how to avoid common mistakes. Let’s dive in.
What the Florida homestead exemption does
The Florida homestead exemption lowers the taxable assessed value of your primary residence. Most homeowners can receive up to a $50,000 exemption. Here is how it typically applies:
- The first $25,000 applies to all property taxes, including school district taxes.
- The additional up to $25,000 applies to the assessed value between $50,000 and $75,000 and generally does not apply to school taxes.
Homesteaded properties also receive the Save Our Homes (SOH) cap, which limits annual increases to assessed value to the lesser of the Consumer Price Index or 3%. Over time, that cap can create meaningful savings if market values rise faster than the cap.
For official guidance and forms, review the Florida Department of Revenue and the Florida Constitution and Statutes. The Florida Department of Revenue provides statewide explanations and links to forms, and you can consult the Florida Legislature’s site for constitutional and statutory provisions related to homestead and property tax exemptions.
Who qualifies in Pasco County
Primary residence on January 1
To qualify for a given tax year, you must own and occupy the home as your permanent residence on January 1 of that year. If you bought and moved in after January 1, you typically apply by the next March 1 for the following tax year.
Ownership and proof of residency
Most owners who use the home as their permanent residence qualify. You will need documentation consistent with state guidance. Common items include:
- Proof of ownership, such as a recorded deed or closing statement.
- Proof of Florida residency at the property, such as a Florida driver’s license or ID with the property address, Florida voter registration, vehicle registration, or a utility bill in your name.
- Social Security numbers for owners, as requested by the property appraiser.
- If title is in a trust, recorded trust documents may be required. Non-citizen owners may need immigration documentation.
If your property use is seasonal or short term, it typically does not qualify as a permanent residence.
Trusts, LLCs, and special cases
Homes titled in eligible trusts can qualify when the occupants meet residency requirements. Property titled to an LLC generally does not qualify unless a specific statutory exception applies. If your situation involves a trust, estate, or other structure, contact the Pasco County Property Appraiser to confirm the documentation needed.
How and when to apply in Pasco County
Key dates to remember
- January 1: You must own and occupy the home as your permanent residence by this date to be eligible for that tax year.
- March 1: Filing deadline to apply for that tax year’s homestead exemption.
- August (TRIM Notice): You will receive a TRIM notice with your proposed assessment and exemptions. Review it carefully.
If you bought after January 1, plan to apply by March 1 of the following year.
Step-by-step filing process
- Confirm ownership and move-in date to ensure you occupied the property on January 1 for the tax year you are applying.
- Gather documents: deed or closing statement, Florida driver’s license or ID, voter and vehicle registrations, utility bill, and Social Security numbers.
- Submit the homestead exemption application to the Pasco County Property Appraiser. Many counties offer online filing; you can also apply by mail or in person. Check the property appraiser’s site for current options and hours.
- If you are moving from another Florida homestead and want to transfer your Save Our Homes benefit, include the portability application and details of your prior homestead.
- Respond to any requests for additional information. The property appraiser may verify occupancy.
- Watch for your TRIM notice in late summer. If the exemption was granted, it should appear there.
After you file: TRIM notices and appeals
Your TRIM notice summarizes proposed assessments, exemptions, and tax estimates. If something looks off, contact the Pasco County Property Appraiser promptly. If you still disagree with an assessed value or exemption decision, you can pursue an appeal through the Value Adjustment Board (VAB) within specific filing windows. Check current deadlines on the county site.
Save Our Homes portability: bring your tax advantage
Portability allows you to transfer some or all of the difference between your market value and your capped assessed value from a prior Florida homestead to your new Florida homestead. This can significantly reduce the assessed value of your new home, subject to state limits.
- Apply for portability when you file your homestead application.
- Provide details about your prior Florida homestead, such as the property address, county, and parcel ID.
- The transferred benefit reduces the assessed value on the new homestead. It cannot create a negative taxable value.
- There are statutory filing timelines. Apply promptly and consult the property appraiser for current forms and deadlines.
If you are moving within Florida, portability can help preserve some of your long-term tax advantage.
Common scenarios for New Port Richey owners
“I bought in April. Can I get it this year?”
Generally no. You must have owned and occupied the home on January 1 of the current tax year. File by March 1 next year to receive the benefit going forward.
“Can I rent part of my home?”
Homestead is for your permanent residence. If a portion of the property is used primarily for rental or business, the exemption may be reduced or affected. Ask the property appraiser how your specific use could impact your exemption.
“Title is in a trust. What now?”
Trust-owned homes often qualify when the occupants are the beneficiaries and meet the residency requirements. Bring the recorded trust documents and any requested identification to the property appraiser.
“Do I need to refile every year?”
No. Once granted, the homestead exemption generally renews automatically unless your ownership or use changes. Notify the property appraiser if you move, sell, or change how you use the property.
What to check on your TRIM notice
Review your TRIM notice carefully. Confirm the following:
- Property details are correct.
- Assessed value reflects the SOH cap if applicable.
- Homestead exemption appears, and the amount aligns with your situation.
- Portability shows if you applied and qualified.
- Proposed taxes and millage rates, so you understand how changes affect your bill.
If anything looks wrong, contact the property appraiser quickly and review appeal timelines through the VAB.
Helpful official resources
- Review statewide rules, forms, and explanations through the Florida Department of Revenue. Look for homestead exemption and portability information.
- For legal foundations, consult the Florida Legislature’s site for the Florida Constitution provisions on homestead and Florida Statutes, Chapter 196 on property tax exemptions.
- For local filing methods, dates, and documentation in Pasco County, visit the Pasco County Property Appraiser’s official site or call the office for current instructions.
Local guidance when you buy or sell
The homestead exemption is straightforward once you know the key dates and documents, but timing matters. If you are buying, plan your closing and move-in with the January 1 rule in mind. If you are selling and buying another Florida home, consider portability so you do not leave tax savings on the table. When you need a local pro to help you align your move with homestead and portability windows, reach out to Rick Bishop for practical guidance and market-savvy support.
FAQs
What is the Florida homestead exemption for New Port Richey owners?
- It reduces the taxable assessed value of your primary residence by up to $50,000 and adds a Save Our Homes cap that limits annual assessment increases.
Who qualifies for the homestead exemption in Pasco County?
- Owners who use the home as their permanent residence and occupied it on January 1 of the tax year, with documentation of ownership and Florida residency.
When is the homestead filing deadline in Pasco County?
- March 1 is the standard filing deadline for that tax year; apply by next March 1 if you bought after January 1.
What documents do I need to apply for homestead?
- A recorded deed or closing statement, Florida driver’s license or ID with the property address, voter and vehicle registration, a utility bill, and Social Security numbers for owners.
How does Save Our Homes portability work if I move in Florida?
- You can transfer eligible SOH benefit from your prior Florida homestead to your new one, lowering the new assessed value, subject to state limits and filing timelines.
Do I need to reapply for homestead every year?
- No. It typically renews automatically unless your ownership or use changes; notify the property appraiser if circumstances change.
What should I look for on my TRIM notice in August?
- Verify property details, assessed value with SOH cap, the homestead exemption, any portability amounts, and the proposed taxes and millage rates.
