Sarah owns a condominium in Orlando that she rents out to tenants while living in an apartment herself. She wants to claim homestead exemption on the condominium. What should her real estate agent advise?
Correct Answer
D) She cannot claim homestead exemption because it's not her primary residence
Correct: D - She cannot claim homestead exemption because it's not her primary residence. Homestead exemption requires the property to be the owner's primary residence and permanent home. Why not A: This option is incorrect because "She can claim homestead exemption since she owns the property" does not match the rule tested by the question. The correct answer is "She cannot claim homestead exemption because it's not her primary residence". Homestead exemption requires the property to be the owner's primary residence and permanent home. Why not B: This option is incorrect because "She needs to live there at least 6 months per year to qualify" does not match the rule tested by the question. The correct answer is "She cannot claim homestead exemption because it's not her primary residence". Homestead exemption requires the property to be the owner's primary residence and permanent home. Why not C: This option is incorrect because "She can claim partial homestead exemption as a rental property owner" does not match the rule tested by the question. The correct answer is "She cannot claim homestead exemption because it's not her primary residence". Homestead exemption requires the property to be the owner's primary residence and permanent home.
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Previous Question
John's homestead property has an assessed value of $350,000. He qualifies for the standard homestead exemption and the additional exemption for assessed values between $75,000 and $100,000. What is his total homestead exemption amount?
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All of the following are requirements for Florida homestead exemption EXCEPT: