LAST CHANCE: Homestead Exemption Deadline Is Today

By Andrew Duncan

Andrew Duncan is the Founder, CEO and Co-Owner of Tampa’s Best Real Estate Agent Team, The Duncan Duo, the Host of The Duncan Duo Real Estate Show Sundays at 10am on 970AM WFLA. As the team’s Founder, CEO & Co-Owner, Andrew’s focus is on the growth of the company, marketing and promotion initiatives as well as motivating and coaching the team’s agents and leadership.

Every year, despite reminders, emails, and on-air discussions, some homeowners still forget to file their homestead exemption. For those who use their property as a primary residence, this exemption is a crucial way to save on property taxes. The deadline to file for 2025 is today, March 3rd. Failing to file means higher taxes, so it’s essential to take action before the deadline passes.

“A simple filing could save you thousands on property taxes.”

The homestead exemption provides key protections, limiting annual property tax increases to just 3%, even when property values rise. Although values haven’t increased significantly this year, homes that haven’t been reassessed in a while will be. Without the exemption, a reassessment could cause a substantial tax hike, making it even more important to lock in the capped increase. Additionally, the exemption includes a $50,000 reduction in taxable value, with $25,000 applied to the school tax portion of the bill. These savings can add up significantly over time.

In the past, title companies handled homestead filings, but that’s no longer a common practice. Homeowners must now proactively verify their exemption status by visiting their local county property appraiser’s website. Filing ensures long-term tax savings since failing to claim the exemption allows property taxes to increase by as much as 10% per year. For higher-value properties, this could lead to a massive tax burden over time.

Taking a few moments to check and file your homestead exemption can result in substantial financial benefits both now and in the future. For real estate tips, questions, or guidance, don’t hesitate to reach out. You can call me at 813-955-1079 or email me at andrew@theduncanduo.com. I look forward to hearing from you.