42.01(A) Requirements to obtain additional homestead exemption. A
who meets each of the requirements set forth below shall be eligible for an additional homestead exemption in the amount set forth below, in accordance with F.S. § 196.075:
42.01(A)(1) The
has legal or equitable title to the subject real estate;
42.01(A)(2) The
maintains upon such property the permanent residence of the
;
42.01(A)(3) The
has attained the age of 65;
42.01(A)(4) The applicable household income does not exceed $20,000.00, as adjusted pursuant to (C) below; and
42.01(A)(5) The taxpayer claiming the above exemption submits annually to the Broward County
, not later than March 1 of each year, a sworn statement of household income on a form prescribed by the Florida Department of Revenue. The filing of this statement must be supported by copies of any federal income tax returns for the prior year, any wage and earnings statements (W-2 forms), and any other documents required by the Florida Department of Revenue for each member of the household, to be submitted by June 1 of each year. The taxpayer’s statement shall attest to the accuracy of such copies. The
may not grant the exemption without the required documentation.
42.01(A)(6) Amount of Additional Homestead Exemption. If the amount of the assessed value of the property for a who has legal or equitable title to the subject real estate has a just value less than $250,000.00, as determined in the first tax year that the
applies and who has maintained thereon the permanent residence of the
for at least 25 years, and is eligible for the exemption, the amount of the exemption is equal to the assessed value of the
, and otherwise the exemption is equal to $50,000.00.
42.01(B) Application of Homestead Exemption. Pursuant to and in accordance with F.S. § 196.075, the additional homestead exemption as set forth in this Section shall apply to all ad valorem property taxes levied by the , including, dependent special districts and municipal service taxing units.
42.01(C) Household income. For the purposes of subsection 42.01(A)(4) above, beginning January 1, 2001, the $20,000.00 household income limitation shall, as prescribed by F.S. § 196.075, be adjusted annually, on January 1 of each year by the percentage change in the average cost-of-living index in the period January 1 through December 31 of the immediately prior year compared with the same period for the year prior to that. The index is the average of the monthly consumer price index figures for the stated 12-month period, relative to the United States as a whole, issued by the United States Department of Labor.
42.01(D) Joint title. If title is held jointly with right of survivorship, the residing on the property and otherwise qualifying may receive the entire amount of the additional homestead exemption.
(Ord. 2010-11, passed 10-4-2010; Am. Ord. 2017-05, passed 5-15-2017)