This bill was signed by Governor Scott on Jun 1, 2011.  Please read below to see if you qualify and take advantage of this opportunity immediately.

TALLAHASSEE, Fla. – If you have served in Iraq or Afghanistan during 2010, you may want to know about new legislation providing a tax break for homestead owners.

HB 1141 implements a constitutional amendment approved by voters in 2010 and provides a new homestead exemption for military personnel on active duty overseas. The exemption is based on the amount of time the individual served overseas.

How to calculate the tax break

Taxable value of the property multiplied by the percentage of time spent overseas in 2010. (Calculate percentage of time spent overseas by taking the number of days overseas and dividing it by 365).

So, if someone spent six months overseas in 2010, he or she would get a 50 percent discount. If someone spent the entire year overseas (12 months), he or she would get a 100 percent discount.

The property tax discount applies to 2011 taxes, but applicants must apply to their county property appraiser by June 1. If applicants miss the June 1 deadline, they have a second chance, but must apply with 25 days of receiving their assessment notice (TRIM Notice) and demonstrate extenuating circumstances.

Go to your county property appraiser immediately to apply for your tax break!