Like all states, Florida requires residents to pay certain taxes. While these individuals don’t owe personal income tax, the State of Florida does collect sales, use, intangible and corporate income taxes. Also, individual counties in this state receive much of their funding through property taxes, which vary by county and the property’s value. In some cases, however, you may be able to benefit from tax exemptions that reduce how much you owe.
If you need assistance understanding Florida tax information or identifying exemptions you may qualify for, contact our helpful tax consultants at BC Tax today. We offer tax help for individuals and small businesses in Florida and nationwide. Learn more about Florida tax exemptions you may qualify for below.
Florida Property Tax Exemptions
There are several property tax exemptions you may be eligible for if you reside in Florida. Florida’s property tax exemptions include the Homestead Exemption, Save Our Homes Assessment Limitation and Portability Transfer, and the Fallen Heroes of Family Tax Relief Act.