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Florida economic exemption 2026

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The document is a form (DR-418) for requesting an Economic Development Ad Valorem Property Tax Exemption in Florida, as outlined in Chapter 196.1995 of the Florida Statutes. It requires businesses to provide information about their operations, property improvements, and employment details to apply for tax exemptions on real and tangible personal property. The application must be submitted by March 1 of the desired year for exemption, and it includes guidelines on eligibility, necessary documentation, and the process for approval by local governing bodies.

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Click ‘Get Form’ to open the Florida Economic Exemption form in our editor.
Begin by entering your business name in the designated field. This is crucial for identifying your application.
Provide the name and telephone number of the owner or person in charge of the business. This ensures that the authorities can contact you if needed.
Fill in the exact location of the property, including legal description and street address. Accurate details are essential for processing your exemption request.
Indicate the date you began or will begin business at this facility, along with a description of any improvements made to real property for which you are requesting an exemption.
List tangible personal property for which an exemption is requested, including class, age, purchase date, and original cost. Ensure all values are accurate to avoid delays.
Complete additional sections regarding employment numbers and sales factors as applicable. This information helps assess your eligibility for exemptions.
Finally, review all entries for accuracy before signing and submitting your application. Use our platform’s features to save and share your completed form easily.

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At what age do seniors stop paying property taxes in FL?

You are 65 years of age, or older, on January 1; You qualify for, and receive, the Florida Homestead Exemption; Your total Household Adjusted Gross Income for everyone who lives on the property cannot exceed statutory limits.

What is the $25,000 exemption in Florida?

The Homestead Exemption is a valuable property tax benefit that can save homeowners up to $50,000 on their taxable value. The first $25,000 of this exemption applies to all taxing authorities. The second $25,000 excludes School Board taxes and applies to properties with assessed values greater than $50,000.

Can your property taxes increase with homestead exemption in Florida?

Floridas Save Our Homes amendment limits annual assessment increases for homesteaded properties to 3% or the annual change in the Consumer Price Index (CPI), whichever is less. For 2025, the CPI change is 2.9%, making the assessment cap 2.9%. Florida DOR caps assessed value of Homestead properties at 2.9 percent Hillsborough County Property Appraiser Home Florida-DOR-caps Hillsborough County Property Appraiser Home Florida-DOR-caps

Who qualifies for tax exemption in Florida?

Property Tax Exemptions and Additional Benefits Further benefits are available to property owners with disabilities, senior citizens, veterans and active duty military service members, disabled first responders, and properties with specialized uses.

How much does homestead exemption save you monthly?

0:00 0:59 But thanks to the homestead exemption there was a 10% cap on the rise of the appraised. Value whichMoreBut thanks to the homestead exemption there was a 10% cap on the rise of the appraised. Value which reduced the taxable value to $136,500. Now had that not been done based off of the county. How much money does a homestead exemption save you? - YouTube YouTube The Invested Homeowner YouTube The Invested Homeowner

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At what age do you stop paying property taxes in FL?

65 years of age You are 65 years of age, or older, on January 1; You qualify for, and receive, the Florida Homestead Exemption; Your total Household Adjusted Gross Income for everyone who lives on the property cannot exceed statutory limits. Senior Citizen Exemption - Monroe County Property Appraiser Monroe County Property Appraiser senior-citizen-exemption Monroe County Property Appraiser senior-citizen-exemption

What are the benefits of the homestead exemption in Florida?

The Homestead Exemption includes an additional benefit which limits the annual increase of the assessed value to 3% or the Consumer Price Index (CPI), whichever is less. This benefit is called Save Our Homes Cap (SOH Cap), and over time may result in savings of thousands of dollars. Homestead Exemption - Miami-Dade County Property Appraiser (.gov) exemptionshomestead Property Appraiser (.gov) exemptionshomestead

Is the Florida homestead exemption worth it?

Filing for a homestead exemption in Florida can lead to substantial property tax savings. The exemption is designed to reduce the taxable value of a homeowners primary residence, ultimately lowering the overall property tax bill. Florida law provides a generous exemption of up to $50,000 for eligible homesteads.