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Portability allows a residential property owner with an existing Homestead Exemption to transfer all or a portion of market value that was deferred from the assessed value by the Save Our Homes (SOH) 3% cap rule.
Maximum millage rate is 10.0 mills. Source: All Indian River County Property owners.
Homestead Every person who owns real property in Florida on January 1, makes the property his or her permanent residence or the permanent residence of a legal or natural dependent, and files an application may receive a property tax exemption up to $50,000. The first $25,000 applies to all property taxes.
Indian River County collects, on average, 0.9% of a propertys assessed fair market value as property tax. Indian River County has one of the highest median property taxes in the United States, and is ranked 576th of the 3143 counties in order of median property taxes.
2023 Senior Citizen Standard Income Tax Deduction For those 65 years of age or legally blind, the standard deduction will increase in 2023 to $1,850 for Single filers or Head of Household, and $1,500 for Married Filing Jointly, Married Filing Separately, and Surviving Spouses.
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Certain property tax benefits are available to persons 65 or older in Florida. Eligibility for property tax exemptions depends on certain requirements. Information is available from the property appraisers office in the county where the applicant owns a homestead or other property.
To qualify, you must be 65 years of age or older during the assess- ment year, own or have legal or equitable interest in the property occupied as your principal residence during the assessment year, and be liable for payment of the property taxes.
SENIOR HOMESTEAD EXEMPTION Homeowners who are 65 and older, with an annual income of $21,599 or less. REQUIREMENTS: Applicants must file a separate form with the Property Appraiser and be able to document their income.

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