Thousands of Central Floridians who recently
moved within the state are claiming a new portability tax break
that voters recently approved at the ballot, but thousands more who
could be eligible haven't gotten their paperwork in.
Because confusion still surrounds the property-tax
package passed Jan. 29, county property appraisers say those who
miss Monday's deadline will likely get more time. How much,
however, is unclear.
"We're going to be as lenient as
possible," said Orange County Property Appraiser Bill
Donegan. "My fear is always, people are going to find out
about this in June."
By then, it might be harder to secure the added tax
break, and homeowners will at least face added paperwork and a $15
fee if they file late.
The Amendment 1 measure approved by 64 percent of
the voters included portability and three other major tax
breaks.
Portability can be extremely lucrative for some
property owners, because it allows them to carry some of the
tax-break savings they have built up in their old home under the
Save Our Homes exemption and apply it to their new house.
Save Our Homes, which caps assessment increases at
3 percent a year for homesteads, allowed many longtime residents to
keep the assessed value of their home far below market rates.
Florida residents who already had a homestead exemption but bought
a new home in 2007 are retroactively eligible to carry that savings
to a new primary residence.
Homebuyers who closed in late 2006 are out of luck.
First-time homebuyers and newcomers from out of state don't get
the portability break, either.