Page 14 - Stuart Exposure - October '22

Page 14, Stuart Exposure

rEAl EstAtE

For example, if a
Treasure Coast Real Estate homeowner’s old home was
Report worth $300,000, but was
assessed at 200,000 due to
Selling And Buying Another Home? Be Sure SOH benefit, they have a
To Take Advantage Of Tax Portability! $100,000 cap. This means the
property owner could transfer
By Jim Weix the $100,000 cap, using
The Florida homestead homestead portability, to
exemption is for primary the new property. If the new
residences in the state. If a property is worth $450,000,
homeowner sells their primary the cap of $100,000 would
residence, they will lose bring the assessed value
their homestead exemption down to $350,000 for the
for that property. However, first year. Homeowners
they can transfer some or may be eligible to transfer,
all of their Save Our Homes or port, up to $500,000 in
(SOH) assessment limitations. capped value.
Homeowners will have three If “downsizing” to a
years to transfer their SOH assessment limitation. home of lower market value,
the homestead owner can
rAising transfer a SOH benefit that
protects the same percentage
of value as it did the former
homestead, up to a $500,000
transferred benefit.
AwArEnEss of Homestead Assessment
You must file the Transfer
Dif ference with the
SafeSpace’s Walk A Mile In homestead application for
your new home.
Once the homeowner files
Her Shoes Event these forms and if they are in
fact eligible, portability will
11 Years Of Walking To End Domestic allow them to “transfer their
Violence On The Treasure Coast SOH benefit from their old homestead to a new homestead, options. I can be reached at (772) 341-2941 or jimweix@
lowering the tax assessment and, consequently, the taxes jimweix.com.
Walk a Mile in Her Shoes is back! Help us make for the new homestead. Jim Weix is a broker associate with The Keyes
the 11th anniversary of our Walk a Mile in Her Shoes Go to: https://www.pa.martin.fl.us/homestead- Company. Jim has 25 years of experience selling real
event our best year yet! The goal driving the Walk a exemption/homestead-portability for more information estate full-time. If you have questions or want the services
Mile in Her Shoes event, is to bring awareness and and to get the needed forms. of an experienced expert, you can reach Jim at (772) 341-
raise lifesaving funds for victims of domestic violence Feel free to call me if you would like to discuss your 2941 or jimweix@jimweix.com.
on the Treasure Coast.
If you have not attended this event before, mark
your calendars now for one of our walks that will take
place in Martin, St. Lucie, and Indian River counties
during the fall. Valiant men will be walking wearing
red women’s high-heeled shoes to symbolize how
difficult it is to “walk in the shoes” of victims of
domestic violence. Women, families, and friends are Changing the way we
also called to action to demonstrate their support for find love, one date at a time.
families fraught by domestic abuse. Your support helps
SafeSpace continue saving and changing the lives of
domestic violence victims and survivors.
Indian River County Walk a Mile in Her Shoes –
Sept. 30, Downtown Friday Main Street, 2036 14th
Ave., Vero Beach, FL
St. Lucie County Walk a Mile in Her Shoes – Oct. We Connect
22, Fort Pierce Marina Square, 101 Melody Lane, Fort
Pierce, FL 34950 Real People
Martin County Walk a Mile in Her Shoes – Nov. 12,
Stuart Air Show, 1895 Flying Fortress Lane, Stuart, In Real Life!
FL 34996
For more information about these events, visit us on
our SafeSpace Facebook page or www.safespacefl.org.

Answer for

Crossword Puzzle

CALL START LOVE

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