abstract:The homestead exemption is a legal regime designed to protect the value of the homes of residents from property taxes, creditors, and circumstances arising from the death of the homeowner spouse. Laws are found in state statutes or constitutional provisions which exist in many states in the United States.
We took the sales tax offprescription drugs, ameasureespecially helpful toseniors, and increased the homestead-propertytaxexemption for themby two-thirds.
Then last month, Jeter filed for a homesteadexemption for his recently-completed, 32, 700 square foot Tampa mansion that will now become his primary residence.
The Florida courts have ruled that the state's homesteadexemption applies even if a debtor acquires his home with "the specific intent to hinder, delay or defraud" creditors.