What is the Limited Income Senior Exemption for persons age 65 and over?
This is an additional exemption of up to $25,000 which may be adopted by the county and cities for qualified persons age 65 and over. The Martin County Board of Commissioners adopted an additional homestead exemption of $25,000 of assessed value to be exempted from county taxes for qualified seniors. The Village of Indiantown Council Members adopted this additional homestead exemption in the amount of $50,000 of assessed value to be exempted from municipal taxes for qualified seniors beginning in 2023. Note: This exemption applies only to the taxes levied by Martin County and the Village of Indiantown. School taxes and independent tax districts cannot be exempted.
If you meet the following criteria, you may qualify for this exemption:
- The eligibility requirements for the original $25,000 homestead exemption must be met.
- At least one of the owners must be 65 years of age or older on or before January 1 of the year the application is made.
- To qualify for 2023, the 2022 household adjusted gross income for all persons residing in the household must not exceed statutory requirements. The household adjusted gross income amount is not to exceed $35,167. This amount is subject to change each year. Most low income households would not include Social Security in the adjusted gross income.
How do I know my adjusted gross income when I haven’t filed my IRS return yet?
While your limited income senior’s application must be filed by March 1, income documentation of all persons living in the household should be submitted before May 1 for prompt consideration. No documentation can be accepted after June 1.
What does “household” income mean?
“Household” means a person or group of persons living together in a room or group of rooms as a housing unit. The term does not include persons boarding or renting a portion of the dwelling.
“Household income” means the adjusted gross income, as defined in Section 62 of the United States Internal Revenue Code, of all members of a household.
What kind of income documentation is required?
- The LImited Income Senior Exemption requires the adjusted gross household income from the prior year. If you file a 2022 federal income tax return, a copy needs to be provided to the Property Appraiser by June 1, 2023 for all persons who have an income and reside in the home.
- If you do not file a federal income tax return, you will be asked for copies of any documents you have regarding income you received in 2022 even if you didn't have to file a federal income tax return, such as W2's from any pensions you may receive, interest on bank accounts etc.
The Property Appraiser cannot grant the exemption without the required documentation.
What proof of age is acceptable?
Valid Florida driver’s license or Florida I.D. card, certified copy of birth certificate, marriage certificate or passport.
What is the approximate savings to eligible low income seniors?
$130.00 - $200.00
- Estimate based on 2022 millage rates.
- Amount varies depending on location of property.
Do I have to reapply each year?
If you previously received the exemption, each year in March, our office will notify you of what the new income limitation is for that year. If your income exceeds this new limitation, you must notify our office by May 1st.