Real Estate Law: ‘Save Our Homes’ savings should continue
(Editor’s note: The following column was published previously in The Breeze.)
Mr. Feichthaler:
My husband and I moved to Cape Coral 15 years ago and made our home our primary residence. We also have a home in Ohio. I kept my Ohio driver’s license, so only my husband applied for the homestead. My husband passed away a few months ago, and I am wondering whether our “Save Our Homes” tax savings will continue, or will I lose it?
-June A.
Dear June:
First, my condolences on your loss. It sounds like your property was held as husband and wife, so no probate or other court actions will be needed. Typically, the “Save Our Homes” cap, which caps increases in taxable value to 3% or less annually, is eliminated on a “transfer of ownership.” In your case, you owned the property with your husband, so under the statute there will be no transfer. However, as of now, it is not your homestead for property tax purposes because you have an Ohio license. Florida only allows couples to have one homestead (with extremely limited exceptions), so if you were claiming two homesteads, and the county discovers this, you may have a liability for prior years where the homestead was improperly claimed.
To retain the homestead exemption and related Save Our Homes savings, it is vital you change your primary residence to your home in Florida as soon as possible. This will entail, at a minimum, obtaining a Florida license and voter registration. Then, you must apply for homestead with the Lee County Property Appraiser, and do so by the deadline. You will want to note that your husband has died and there is no transfer of ownership for the property, which should lead to continuation of the Save Our Homes savings. You may want to consult with an attorney prior to proceeding to ensure you do not create potential liability due to your specific circumstances.
Eric P. Feichthaler has lived in Cape Coral for over 35 years and graduated from Mariner High School in Cape Coral. After completing law school at Georgetown University in Washington, D.C., he returned to Southwest Florida to practice law and raise a family. He served as mayor of Cape Coral from 2005-2008, and continues his service to the community through the Cape Coral Caring Center, Cape Coral Museum of History, and Cape Coral Kiwanis. He has been married to his wife, Mary, for over 20 years, and they have four children together. He earned his board certification in Real Estate Law from the Florida Bar. He is AV Preeminent rated by Martindale-Hubbell for professional ethics and legal ability, and is a Supreme Court Certified Circuit Civil Mediator. He can be reached at eric@capecoralattorney.com, or 239-542-4733.
This article is general in nature and not intended as legal advice to anyone. Individuals should seek legal counsel before acting on any matter of legal rights and obligations.
To reach ERIC P. FEICHTHALER, please email news@breezenewspapers.com