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ADDITIONAL HOMESTEAD EXEMPTION FOR LOW
INCOME SENIORS
October 22, 2013
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Additional Exemption for Low Income Seniors
• Background
• Recipients
• Administration
• Summary
• Board Direction
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Additional Exemption for Low Income Seniors
• Background
• Recipients
• Administration
• Summary
• Board Direction
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In the November 2012 general election, voters approved Amendment 11
It allows for an additional exemption when all of the following conditions are met:
• The owner must be age 65 years or older;
• The property must have a just (market) value of less than $250,000;
• The owner must have maintained permanent residence for at least 25 years;
• The owner’s annual household income must be less than $27,030 in 2013
Background
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More on Amendment 11:• The exemption must be granted by ordinance
• The ordinance must be adopted and delivered to the Property Appraiser by December 1, to take effect on the following January 1
• The ordinance must be adopted by at least a majority plus 1 vote
• The requirements for the additionalexemption do not affect any of the exemptions already authorized
Background
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Background
Original Save our Seniors Exemption:
• In 1998, voters approved the “Save Our Seniors” amendment to the Florida Constitution, allowing an exemption up to $25,000 for low-income senior citizens.
• The $25,000 “Save Our Seniors Homestead Exemption Ordinance” was enacted by the Orange County Board in 2000 beginning for tax year 2001.
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Background
Second Exemption to the original Low-Income Seniors exemption:
• In 2006, voters approved an amendment increasing the exemption to $50,000
• The increase to $50,000was enacted by the Orange County Board for tax year 2007
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Background
Millage Rate• The current homestead exemption for
Limited Income Seniors applies only to the countywide millage rate, currently 4.4347 mills.
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Additional Exemption for Low Income Seniors
• Background
• Recipients
• Administration
• Summary
• Board Direction
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Recipients
• Approximately 6,800 Recipients
• Current $50,000 Limited Income Senior exemption saves seniors approximately $1.3 million per year
• Currently as much as $400 million non-exempt taxable value are available from current Limited-income Seniors
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• Assuming all current recipients qualify for the additional exemption, the cost to Orange County would be approximately $1.8 million
• Anticipated cost is estimated to be significantly less
Recipients / Fiscal Impact
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Additional Exemption for Low Income Seniors
• Background
• Recipients
• Administration
• Summary
• Board Direction
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Administration
Timing• A Taxpayer claiming the exemption must submit
to the Property Appraiser, no later than March 1, a sworn statement of household income on a form prescribed by the Department of Revenue
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Administration
Auditing• The Property Appraiser is authorized to
generate random audits of the taxpayers’ sworn statements to ensure the accuracy of the reported household income
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Administration
Annual Renewal• In1988, The Orange County Property Appraiser
requested and received approval from the Orange County Board of County Commissioners to waive the annual application requirement for exemption renewal.
• If approved, the Property Appraiser is requesting to extend the waiver of the annual application requirement,to include the additionalexemption for low-incomeseniors.
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Additional Exemption for Low Income Seniors
• Background
• Recipients
• Administration
• Summary
• Board Direction
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Summary
• Third additional limited income senior exemption
• The exemption must be granted by ordinance
• Adopted ordinance to Property Appraiser’s Office by December 1, 2013 for the tax year 2014
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Additional Exemption for Low Income Seniors
• Background
• Recipients
• Administration
• Summary
• Board Direction
![Page 19: ADDITIONAL HOMESTEAD EXEMPTION FOR LOW INCOME SENIORS October 22, 2013](https://reader034.vdocuments.mx/reader034/viewer/2022051620/56649e4a5503460f94b3e0c2/html5/thumbnails/19.jpg)
Board Direction
Board Options:• Delay to a future year
• Proceed with an ordinance and amend our Code to allow for:
– Added Exemption
– Waiver of annual application renewal requirement
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ADDITIONAL HOMESTEAD EXEMPTION FOR LOW
INCOME SENIORS
October 22, 2013