For the 2026 tax roll, a Florida homestead has an assessed value of $42,000. Using the 2026 additional homestead amount of $26,411, what is the taxable value for county taxes?
Correct Answer
D) $17,000.00
For county taxes, subtract the first $25,000 and then subtract the additional exemption only from value above $50,000. Here that gives $42,000 - $25,000 - $0 = $17,000.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.
Tenancy in common is a form of co-ownership in which two or more persons hold separate, undivided interests in property without the right of survivorship. Each owner can hold unequal shares and can independently transfer their interest.
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