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ADDITIONAL HOMESTEAD EXEMPTION FOR LOW INCOME SENIORS. October 22, 2013. Additional Exemption for Low Income Seniors. Background Recipients Administration Summary Board Direction. Additional Exemption for Low Income Seniors. Background Recipients Administration Summary Board Direction.

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additional exemption for low income seniors
Additional Exemption for Low Income Seniors
  • Background
  • Recipients
  • Administration
  • Summary
  • Board Direction
additional exemption for low income seniors1
Additional Exemption for Low Income Seniors
  • Background
  • Recipients
  • Administration
  • Summary
  • Board Direction
slide4

Background

  • In the November 2012 general election, voters approved Amendment 11
  • It allows for an additional exemption when all of the following conditions are met:
  • The owner must be age 65 years or older;
  • The property must have a just (market) value of less than $250,000;
  • The owner must have maintained permanent residence for at least 25 years;
  • The owner’s annual household income must be less than $27,030 in 2013
slide5

Background

  • More on Amendment 11:
  • The exemption must be granted by ordinance
  • The ordinance must be adopted and delivered to the Property Appraiser by December 1, to take effect on the following January 1
  • The ordinance must be adopted by at least a majority plus 1 vote
  • The requirements for the additionalexemption do not affect any of the exemptions already authorized
background
Background

Original Save our Seniors Exemption:

  • In 1998, voters approved the “Save Our Seniors” amendment to the Florida Constitution, allowing an exemption up to $25,000 for low-income senior citizens.
  • The $25,000 “Save Our Seniors Homestead Exemption Ordinance” was enacted by the Orange County Board in 2000 beginning for tax year 2001.
background1
Background

Second Exemption to the original Low-Income Seniors exemption:

  • In 2006, voters approved an amendment increasing the exemption to $50,000
  • The increase to $50,000was enacted by the Orange County Board for tax year 2007
background2
Background
  • Millage Rate
      • The current homestead exemption for Limited Income Seniors applies only to the countywide millage rate, currently 4.4347 mills.
additional exemption for low income seniors2
Additional Exemption for Low Income Seniors
  • Background
  • Recipients
  • Administration
  • Summary
  • Board Direction
recipients
Recipients
  • Approximately 6,800 Recipients
  • Current $50,000 Limited Income Senior exemption saves seniors approximately $1.3 million per year
  • Currently as much as $400 million non-exempt taxable value are available from current Limited-income Seniors
slide11

Recipients / Fiscal Impact

  • Assuming all current recipients qualify for the additional exemption, the cost to Orange County would be approximately $1.8 million
  • Anticipated cost is estimated to be significantly less
additional exemption for low income seniors3
Additional Exemption for Low Income Seniors
  • Background
  • Recipients
  • Administration
  • Summary
  • Board Direction
administration
Administration
  • Timing
      • A Taxpayer claiming the exemption must submit to the Property Appraiser, no later than March 1, a sworn statement of household income on a form prescribed by the Department of Revenue
administration1
Administration
  • Auditing
      • The Property Appraiser is authorized to generate random audits of the taxpayers’ sworn statements to ensure the accuracy of the reported household income
administration2
Administration
  • Annual Renewal
      • In1988, The Orange County Property Appraiser requested and received approval from the Orange County Board of County Commissioners to waive the annual application requirement for exemption renewal.
      • If approved, the Property Appraiser is requesting to extend the waiver of the annual application requirement,to include the additionalexemption for low-incomeseniors.
additional exemption for low income seniors4
Additional Exemption for Low Income Seniors
  • Background
  • Recipients
  • Administration
  • Summary
  • Board Direction
summary
Summary
  • Third additional limited income senior exemption
  • The exemption must be granted by ordinance
  • Adopted ordinance to Property Appraiser’s Office by December 1, 2013 for the tax year 2014
additional exemption for low income seniors5
Additional Exemption for Low Income Seniors
  • Background
  • Recipients
  • Administration
  • Summary
  • Board Direction
board direction
Board Direction

Board Options:

  • Delay to a future year
  • Proceed with an ordinance and amend our Code to allow for:
    • Added Exemption
    • Waiver of annual application renewal requirement
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