In a Tampa transaction, a buyer wants the Florida rule on Article VII. Which statement is correct?
Correct Answer
C) The additional homestead exemption is adjusted annually for inflation under current Florida law.
The additional homestead exemption is adjusted annually for inflation under current Florida law. This follows Art. VII, § 6, Fla. Const.; Art. X, § 4, Fla. Const.; F.S. § 196.031; Florida Dept. of Revenue homestead guidance.
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Previous Question
A county appraiser explains that only the 2026 additional homestead exemption beyond the first $25,000 is at issue. If a homestead has an assessed value of $90,000 and the county millage is 18 mills, what county-tax savings comes from that additional exemption alone?
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Which statement best describes Florida's rule on Article VII?