Here’s the basic overview: Your property taxes are an “ad-valorem” tax. This article will hopefully set you straight on the basics. So a basic understanding of the important dates and the calendar in the Homestead World can be very helpful. There are also times when you MUST let go of your homestead status and filings or you can incur severe penalties. When building a new home, you need to know how quickly you need to complete the home and get moved in so you don’t lose valuable portability savings that you accrued in your last home.
However, there are circumstances when you WON’T want it to go into effect as soon as possible. Since having your Homestead filing go into effect saves you money, you generally want it to go into effect as soon as possible. When do I have to file for Homestead? When is my Homestead Established? When does it go into effect? What if I want to challenge my Market Value? What if I need to file a VAB Petition?
Important dates and how the “Homestead World” Calendar works.