Subject:
Title
Ordinance amending Sections 118-176, 118-177, and 118-180 relating to an additional homestead exemption for persons 65 and older.
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Recommended Action:
Recommended Action
Conduct a public hearing to adopt an ordinance amending Sections 118-176, 118-177, and 118-180 of the Pinellas County Code relating to an additional homestead exemption for persons 65 and older.
• Increases additional homestead exemption from $25,000.00 to $50,000.00 for qualifying persons 65 and older beginning with the 2025 tax roll.
• This additional homestead exemption applies only to the County’s Unincorporated Municipal Services Taxing Unit tax roll.
• The fiscal impact of this additional exemption, as estimated by the Property Appraiser and the Office of Management and Budget, is a reduction of General Fund property tax revenues of $255,500.00 annually.Body
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Strategic Plan:
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5.2 Be Responsible Stewards of the Public’s Resources.
Summary:
Summary
The proposed ordinance revisions allow for an increase to the additional homestead exemption for persons 65 and older by $25,000 to a total of $50,000 annually for qualifying senior citizens beginning with the 2025 tax roll.
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Background Information:
In 2005, the Pinellas County Board of County Commissioners (Board) enacted Article VI of Chapter 118 of the Pinellas County Code, entitled Additional Homestead Exemption for Persons 65 and Older. That provision created an additional homestead exemption of $25,000 applicable to the County’s general unincorporated Municipal Services Taxing Unit (MSTU) millage only, effective for the 2006 tax roll.
During the Budget Information Sessions, Commissioner Justice requested and the County Commission agreed by consensus that the County Administration should take the necessary steps to enact the full $50,000 exemption and bring that decision back before the Board.
As such, the proposed revisions in this ordinance increase the exemption amount from $25,000 to $50,000, for a difference of $25,000 (100.0%) for qualifying senior citizens beginning with the 2025 tax roll, and annually thereafter to the extent permitted by law.
Per the ordinance, “Any person 65 years of age or older who has the legal or equitable title to real estate located within the unincorporated MSTU and maintains thereon their permanent residence, which residence qualifies for and receives homestead exemption pursuant to Section 6(a), Article VII of the Florida Constitution, and F.S. § 196.031, and whose household income does not exceed $20,000.00 or such amount as is adjusted pursuant to section 118-178 herein shall be entitled to make application to the Property Appraiser of Pinellas County for an additional homestead exemption of $50,000.00 as provided in this article.”
Approval of this ordinance is anticipated to be an overall tax reduction of $255,500 annually.
Fiscal Impact:
The fiscal impact of this additional exemption, as estimated by the Property Appraiser and the Office of Management and Budget, is a reduction of General Fund property tax revenues of $255,500.00 annually
Staff Member Responsible:
Shane Kunze, Financial Management & Budget Analyst, Office of Management and Budget
Chris Rose, Director, Office of Management and Budget
Partners:
N/A
Attachments:
Res-24-XX
Notice of Public Hearing