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Property Taxes Frequently Asked Questions
Homestead Property Tax Deferral Act - FAQ's
Q. What is a Property Tax Deferral?
A. A program whereby an eligible person who is entitled to claim homestead tax exemption under the provisions of F.S. 196.031(1) may elect to defer payment of a portion of the taxes levied on that person's homestead by filing an annual application with the County Tax Collector.
Q. When Is the Application Due?
A. The application is due to the Tax Collector's office on or before January 31 following the year in which the taxes and non-ad valorem assessments are assessed.
Q. Where Can I get an Application?
A. The application and affidavit can be downlaoded at:
Application - Form DR-570 -- (.pdf) 22 kb.
Affidavit
Q. Is Homestead Exemption the Only Requirement?
A. No. There are other eligibility requirements as follows:
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Applicant is entitled to claim senior exemption, the portion of such ad valorem taxes plus non-ad valorem assessments which exceed 3% of the applicant's household's income for the prior calendar year may be deferred.
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Applicant's household income for the prior calendar year is less than $10,000 or is less than the amount of the household income designated for the additional homestead exemption and the applicant is 65 years of age or older, ad valorem taxes plus non-ad valorem assessments shall be deferred in their entity.
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No taxable income or if prior year income was less than $10,000, the entire tax amount of ad valorem and non-ad valorem assessments may be deferred (applies to anyone regardless of age).
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Taxes that exceed 5% of the applicant's household's income for the prior calendar year (applies to anyone regardless of age) may be deferred up to the amount that exceeds the income.
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Total amount of deferred taxes, non-ad valorem assessments, and interest plus the total amount of all other unsatisfied liens on the homestead can not exceed 85% of the assessed value of the homestead.
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Primary mortgage financing on the homestead may not exceed 70% of the assessed value of the homestead
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Fire and extended coverage insurance with a loss payable clause to benefit Broward County Revenue Collection and a clause obligating the carrier to notify the loss payee of late premium payment, cancellation or non-renewal of policy must be issued on the property.
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A copy of the income tax return from the prior year for each member of the household must be submitted.
Q. Is there Interest on Deferred Taxes?
A. Yes. The interest rate is determined by the Department of Revenue.
Q. Who Makes the Decision if the Taxes Can be Deferred?
A. The Tax Collector's office
Q. When Do Deferred Taxes Have to Be Paid?
A. There are several instances:
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If there is a change in the use of the tax-deferred property such that the owner is no longer entitled to claim homestead exemption for such property o such person fails to maintain the required fire and extended insurance coverage, the total amount of deferred taxes, non-ad valorem assessments and interest for all previous years shall be due and payable November 1 of the year in which the change in use occurs or on the date failure to maintain insurance occurs and shall be delinquent on April 1 of the year following the year in which the change in use or failure to maintain insurance occurs.
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In the event there is a change in ownership of a tax-deferred property, the total amount of deferred taxes, non-ad valorem assessments and interest for all previous years shall be due and payable on the date the change in ownership takes place and shall be delinquent on April 1 of following said date.
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During any year in which the total amount of deferred taxes, non-ad valorem assessments and interest which exceeds 85% of the assessed value of the homestead shall be due and payable within 30 days of receipt of notice from the tax collector. Failure to pay the amount due shall cause the total amount of deferred taxes and interest to become delinquent.
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Each year, upon notification each owner of property on which taxes, non-ad valorem assessments and interest have been deferred shall submit to the tax collector a list of and the current value of all outstanding liens on the homestead. Failure to respond to this notice within 30 days, shall cause the total amount of deferred taxes, non-ad valorem assessments and interest to become payable within 30 days.
Q. Do I have to Re-Apply Every Year?
A. Yes, a new application must be submitted to the Revenue Collection Division each year by January 31 of the year after the year of the assessment.
Q. How Long Does It Take the Tax Collector to Approve An Application?
A. Notification of approval or denial is sent to the property owner within a week.
Q. Do I Have To Pay Anything?
A. Yes, if the whole amount of taxes due is not deferred.
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