Eric P. Feichthaler

Dear Mr. Feichthaler,

I moved to our new Cape Coral home from Wisconsin in August. We sold our northern home and this is our full-time residence. I wanted to make sure we received the homestead property tax savings, but someone told me we had to apply by the end of 2023 to obtain this. Unfortunately, we didn’t. Can we do anything to have the homestead exemption for 2024?

Wendy T.

Dear Wendy,

Welcome to Cape Coral. You are among thousands who has made the decision to make Cape Coral home in 2023. I hope this has proven to be a good decision so far.

Becoming a Florida resident has many benefits besides the sunshine. Notably, Florida gives great benefits to those residents in Florida that have a homestead, including protection from unsecured creditors (like judgments, bill collectors, etc.). The benefit on most newcomer’s minds, including yours, is the property tax deduction. Generally speaking, having a Florida homestead entitles you to a $50,000 reduction of taxable value, to which the various tax rates apply. Only $25,000 of this amount applies to school taxes. The end result, generally, is a savings of $900 in Cape Coral in the first year.

Additionally, with the Save Our Homes constitutional amendment in the 1990s, taxable value cannot be increased more than 3% per year while you are homesteaded. Certain seniors are also entitled to additional benefits. Great information can be found at the Lee County Property Appraiser’s website – leepa.org.

One of the items on that site is the deadline, and you are in luck! Although you need to be in your homestead by the end of the calendar year, with items like drivers license and voter registration already in place, the actual application is not due until March 1! So, you have four more weeks to apply. However, I recommend proceeding immediately, as there is too much money at stake to potentially forget to apply later.

Most residents can apply online at the above website, leepa.org. Happy to deliver this good news, and to all those who didn’t realize the deadline is March 1, no time like the present to claim this tax benefit!

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 Cape Coral 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, and Cape Coral Kiwanis. He has been married to his wife, Mary, for 22 years, and they have four children. He earned his board certification in Real Estate Law from the Florida Bar, and primarily practices in real estate law and wills and trusts. 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.