Home Prices are On The Rise in New Port Richey Florida

Home prices are on the rise in New Port Richey Florida and

 this is the best time to sell or buy a home in New Port Richey. You can easily sell your home and purchase either a downsized home or buy up to a larger home and take advantage of the low mortgage loan interest rates.  Although the prices of homes are rising, home buyers are still getting low interest rates and if you have not owned a home in the last 5 years or you are a first time home buyer you may qualify for tax incentives for first time home buyers. 

Owning a home in New Port Richey or Port Richey Florida is

still more affordable than renting a home. You can get a Florida Homestead Exemption on your homes taxable value if the home is your primary residence which reduces your homes taxable value by at least $25,000.  With lower interest rates, a $100,000 home loan at 5% interest for 30 Years is $536.82 a Month. (principal and interest only) so if you are renting for $750 or $800 a month, you can own your own home for less money per month that you are throwing away on rent.  If you don't think you can get a mortgage loan, contact me and I will direct you to a mortgage professional who can give you answers you need and advise you on way to fix any issues and be able to buy in the next 6 months to a year.

My business is here to assist you in selling or buying residential real estate in New Port Richey, Port Richey and Trinity Florida.  Contact me today to discuss your real estate needs and goals and how I can help you and your family reach your goals.

                 

written by Michael J Gallo

Florida Homestead Exemption

Written by Michael J. Gallo

The Florida Homestead Exemption is a constitutional

guarantee that reduces the assessed value of residential property up to $25,000 for qualified permanent residents and an additional $25,000 for assessed values greater than $100,000.  Every Florida resident who has legal or beneficial title in equity to real property in the State of Florida.  

What documents are required to file your Florida Homestead Exemption:
     Recorded deed or tax bill for the real property to be homesteaded. 
     Florida Drivers License
     Florida Vehicle Registration
     Social security number of the applicant and his/her spouse
     Voter registration card
     If not a US citizen, a permanent visa and a declaration of  domicile.  A declaration of domicile may be                    filed at the Clerk of the Court 

Not more than one residence in Florida or any other state, may be eligible for for the exemption.  There are other exemptions available available in Florida.  Amendment 9 of the tax law allows surviving spouses of military and first responders who died in the line of duty a 100% exemption.

Other Exemptions Include:
Widow's and Widower's Exemption of $500
Partially Disabled Persons of $500
Exemption for the Blind of $500
Other exemptions are available and you can learn more about these exemptions by visiting         http://dor.myflorida.com/dor/property/taxpayers/exemptions.html

You can apply for your Florida Homestead Exemption online

but you must file with your local county appraiser office.  To learn who your local county appraiser is and their office information you can visit: http://dor.myflorida.com/dor/property/appraisers.html

Florida Homestead Exemption - Amendment 9 - First Responders and Military Veterans and Surviving Spouses

Written by Michael J. Gallo

Florida homestead Exemption is a way to reduce the tax on your

primary residence and as part of the "save our homes" residents may take additional exemptions for being a widow, widower, blind person, partially disabled and fully disabled.  You can learn more information about the Florida homestead exemption here.

Amendment 9 of the Florida Homestead Exemption allows Military Veterans and First Responders surviving spouses to receive a 100% exemption for their service.  Prior to this amendment only fully disabled residents who were living, received 100% exemption.

The "Fallen Heroes Family Tax Relief Act" if for the hero and their surviving spouses providing:

     A) A military veteran who died from service-connected causes while on active duty as a member of the US armed forces.

     B) A First Responder who died in the line of duty.

*First Responders include: law enforcement officers, correctional officers, firefighter, emergency medical technician or paramedic employed by the state or any political subdivision of the state**

If you or anyone you know is interested in Selling or Buying a home in Western Pasco County Florida, Contact Me Today.