Paid Advertising Content | By The Real Estate Collection
Owning a home comes with many responsibilities, including paying property taxes. Fortunately, Orange County offers a variety of property tax exemptions to ease the financial burden on residents. Whether you’re a homeowner, senior citizen, military or veteran, or have a disability, understanding the available exemptions can lead to significant savings. Below, we explore some of the most common exemptions available to homeowners in the town of Windermere and the greater Orange County area.
Homestead Exemption
The Homestead Exemption is one of the most beneficial property tax exemptions available. If your home is your permanent residence as of January 1st, you may be eligible to reduce your property’s assessed value by up to $50,000. This reduction can lead to an annual tax savings of approximately $750. To take advantage of this exemption, you must submit your application by March 1st. You can apply online, by mail, or in person, but failing to meet the deadline forfeits the benefit for that year.
Portability of Homestead Exemption
Portability allows Florida homeowners to transfer the tax savings from their Homestead Exemption to a new property, reducing the assessed value and saving money on taxes. This savings, called the "Save Our Homes" benefit, is the difference between the market value and the assessed value of your homestead.
To qualify, you must have had a homestead exemption on January 1 of one of the last three years and apply for portability within three years of moving. However, Florida Statute 193.155(8) has specific rules, and not everyone will qualify. Be sure to apply for both your new homestead exemption and portability at the same time.
Widow/Widower and Disability Exemptions
If you are a widow or widower, Orange County offers an additional $5,000 exemption. To qualify, you must be a permanent Florida resident and own property in Orange County. It’s important to note that if you remarry, you are no longer eligible for this exemption.
Additionally, a $5,000 exemption is available to those with a qualifying disability. The application process for this exemption requires proof of disability from a licensed Florida physician and must be submitted alongside your Homestead Exemption.
Limited Income Senior Exemptions
For residents aged 65 and older, there are two additional exemptions available based on income. The standard Limited Income Senior Exemption applies to those whose household income does not exceed $36,614 (as of 2023). Eligible seniors can further benefit if they have lived in their residence for 25 years or more. This “Senior Plus” exemption offers even greater tax relief, provided the property value is under $250,000.
Both exemptions require that seniors meet specific residency and income documentation requirements. Applications must be filed by March 1st, with income documentation due by June 1st.
Veteran and Service-Related Exemptions
Orange County offers several property tax exemptions to veterans and surviving spouses. Veterans with a service-connected disability between 10% and 100% can qualify for a $5,000 exemption. For veterans with a total and permanent service-connected disability, a full exemption may apply.
Additionally, veterans aged 65 and older with combat-related disabilities may be eligible for further discounts, based on the percentage of their disability. In some cases, these exemptions can be transferred to a surviving spouse.
Windermere Resident and Veteran, John Disterdick
Apply Early and Reap the Benefits
Navigating the available property tax exemptions can be complex, but the potential savings are well worth the effort. Check your tax bill for accuracy. Property Tax bills are mailed to property owners by November 1 of each year. Are you not receiving a potential exemption? Be sure to file applications on time by March 1, 2025 and consult with the Orange County Property Appraiser’s Office if you have any questions or require assistance with the process.
At The Real Estate Collection, we’re committed to helping Windermere residents maximize their property benefits and savings. Reach out to us for any of your real estate needs.
The Real Estate Collection | TheRealEstateCollection.com | 407.656.7814 | 100 W Plant Street, Winter Garden, FL 34787
