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cmill2849 · Joined: 04 Aug 2007 Posts: 7 4.24 Dollars($)

I live in SW Florida (Ft Myers/Cape Coral area) and am thinking of taking a job in Atlanta, Ga. Will I lose my homestead exemption if i move to atlanta to take this job? If so, how much will my property taxes go up? Will they double? I am thinking of selling the place if the taxes go way up, because I cannot finance 2 residences.

jerry · Posted: Wed Nov 11, 2009 2:47 am Post subject:

Hi cmill,

You will not be able to claim homestead exemption, if you move out of the state. To claim the exemption, you must use the property as your principal residence and occupy it for a majority of the year. If you move out of the state and leave the property, you cannot claim the homestead exemption.

If your property loses the homestead status, the amount of money you pay for the property taxes can increase. However, the taxes may not double. The change in the tax amount can also be nominal. To know the exact amount of change in the property taxes, you can contact an accountant or a tax consultant or your local tax authority.

Thanks,

Jerry

Guest

what if I take a job in-state (but out of the city) like say Boca Raton which is about 100 miles from my home? I was thinking of possibly staying in Boca Raton during the workweek , then returning home to Lehigh on the weekends, from friday night to monday morning.

savior70 · Posted: Thu Nov 19, 2009 3:57 am Post subject:

Hi,

If you take an in-state job, you can surely claim the homestead exemption on the existing property. You will have to declare your current state as your permanent residence. However, if you are in the same state, but you change your place of residence, you'll have to file for homestead exemption for your new property. In your case, you can still claim homestead exemption on your existing property, provided you use it as your principal residence and occupy it for a certain number of days in a year.

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Will I lose my homestead exemption if i move out of state to take a job?