PHOTO COURTESY OF YOUTUBE
By MARTY KIAR
Broward County Property Appraiser
Too many times our office receives calls from family members who inherited a family-owned property, but experienced a large increase in property taxes the following year. This happens when the decedent’s Homestead Exemption is removed the year following their passing and the Save Our Homes value is reset. This often causes a dramatic increase in property taxes for the family member who now owns the property.
Unfortunately, a person by law cannot “inherit” a Homestead Exemption (and lower Save Our Homes value) when she or he inherits ownership of the property. The only exception of specific persons allowed to “inherit” the existing Save Our Homes value are the surviving spouse or a legal dependent who was permanently residing on the property at the time of the decedent’s death.
In all other instances, the person inheriting the property must file for a new Homestead Exemption and lock in a new Save Our Homes value based upon the current just value of the property in which they became the legal owner of the property. While this sounds complicated, our office is happy to help with any questions you may have about this matter or any other exemption concerns.
Should you have any questions, please do not hesitate to contact me directly at 954-357-6904 or by email at email@example.com.