All of the following are subject to ad valorem taxation in Florida EXCEPT:
Correct Answer
C) Government-owned municipal buildings
The correct answer is C. Government-owned municipal buildings are exempt from ad valorem taxation in Florida as they serve public purposes. A is incorrect because commercial office buildings are subject to ad valorem tax. B is incorrect because rental properties are taxable real estate. D is incorrect because vacant lots are subject to property taxation based on their assessed value.
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A Jacksonville couple purchases their first home in March and immediately files for homestead exemption. When will this exemption first take effect on their property tax bill?
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A Fort Lauderdale homeowner's property was assessed at $380,000 last year and $420,000 this year. The property has homestead exemption and Save Our Homes protection. What is the maximum the assessed value can increase this year under Save Our Homes?