AN AMENDMENT TO HOUSE BILL 581, RECENTLY PASSED THE STATE LEGISLATURE AND WAS SIGNED OFF ON BY GOVERNOR KEMP LAST APRIL. PART OF THIS AMENDMENT PROVIDES AN ADDITIONAL 45 DAYS TO APPLY FOR HOMESTEAD EXEMPTION FOR THE 2025 TAX YEAR. THE 45 DAY EXTENSION BEGINS MAY 9TH AND ENDS JUNE 23RD . AS A RESULT OF HB-581, THIS IS ESPECIALLY IMPORTANT FOR THOSE WHO HAVE PURCHASED HOMES IN THE LAST FEW MONTHS AND DIDN’T GET A CHANCE TO FILE FOR HOMESTEAD EXEMPTION BEFORE APRIL 1ST , AND ALSO TO THOSE WHO DO NOT ALREADY HAVE HOMESTEAD EXEMPTION ON THEIR PRIMARY RESIDENCE. PRELIMINARY DIGEST NUMBERS SHOW AN INCREASE IN RESIDENTIAL PROPERTY ANYWHERE FROM 3 TO 10% FOR TAX YEAR 2025. FOR COUNTY AND CITY TAX PURPOSES, HB-581 FREEZES ALL HOMESTEADED PROPERTY AT 2024 VALUES FOR TAX YEAR 2025. THIS WILL BE A HOME’S BASE VALUE AND THIS VALUE WILL BE ADJUSTED BY A SET INFLATION RATE YEARLY BEGINNING IN 2026. WE STRONGLY URGE HOMEOWNERS TO MAKE SURE THEY HAVE HOMESTEAD EXEMPTION ON THEIR PRIMARY RESIDENCE BEFORE JUNE 23RD .
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