HB 1599 - Homestead Tax Exemptions Summary

• Revises interest and penalty rates for property owners who unlawfully receive homestead exemptions, changing from 15% interest and 50% penalty to interest at the rate in s. 213.235 plus a penalty of three times that interest rate (capped at 50% of unpaid taxes) for each year within the prior 10 years.

• Modifies abandonment criteria for rental of homestead property by requiring rental of more than 30 days per calendar year for 2 consecutive years before the exemption is lost, and clarifies that renting only a portion of a dwelling while owner occupies it does not constitute abandonment.

• Applies the revised interest and penalty structure to the additional homestead exemption for persons 65 and older under s. 196.075, with an exception for clerical mistakes by the property appraiser.

• Updates the homestead exemption lien provisions under s. 196.161 to use the same revised interest and penalty rates for cases where non-residents improperly received exemptions.

• Takes effect July 1, 2023.