Lake County, Florida Property Taxes

In Lake County, FL, homeowners who believe their property tax assessments are too high have the option to file a property tax protest. The process begins with an appeal to the county's Value Adjustment Board, which is responsible for reviewing disputes between property owners and the property appraiser's office. Homeowners must submit a petition to the board, typically within a specific timeframe following the receipt of their assessment notice.

The appeal process involves presenting evidence that supports a lower assessed value for the property. This evidence might include recent sales data of comparable properties, an independent appraisal, or documentation of any discrepancies in the property record. The Value Adjustment Board will then schedule a hearing where both the homeowner and the property appraiser can present their cases.

Potential outcomes of an appeal can vary. If the board agrees with the homeowner's evidence, they may reduce the assessed value, leading to a lower property tax bill. However, if the board finds the original assessment to be accurate, the assessed value will remain unchanged.

Ownwell can assist homeowners throughout this appeal process by providing expert guidance and support. Our team of professionals can help gather the necessary evidence, prepare a compelling case, and represent the homeowner during the hearing. By leveraging our expertise, homeowners can increase their chances of a successful appeal, potentially saving them significant amounts on their property tax bills. With our assistance, navigating the complexities of the property tax protest process becomes more manageable, allowing homeowners to focus on what matters most to them.

In Lake County, Florida, homeowners can benefit from several property tax exemptions, designed to reduce the financial burden on primary residences. The most notable is the Homestead Exemption, which provides a significant tax reduction for homeowners who occupy their property as their primary residence by January 1st of the tax year. Eligible homeowners can receive up to a $50,000 exemption on the assessed value of their home, effectively lowering their property tax bill.

Another valuable exemption is the Senior Citizen Exemption, available to residents aged 65 and older, subject to income limitations. This exemption can offer additional savings beyond the standard Homestead Exemption for qualifying seniors.

Homeowners with disabilities may qualify for the Disability Exemption, which offers tax relief to those who meet specific disability criteria. Similarly, veterans with a service-related disability can benefit from the Veteran’s Exemption, providing further tax reductions.

To apply for these exemptions, homeowners must submit the appropriate application forms to the Lake County Property Appraiser's Office by the March 1st deadline. Ownwell can assist homeowners in navigating these exemption programs, ensuring they meet eligibility requirements and file their applications accurately and on time. By leveraging Ownwell's expertise, homeowners can maximize their tax savings and reduce their property tax burden effectively.