How Homebuyers Can Take Advantage of Local Tax Incentives in Central Florida

Buying a home in Central Florida doesn’t just mean sunshine, beaches, and great communities—it also means opportunities to save big with local tax incentives. From property tax exemptions to first-time buyer programs, Central Florida counties offer a variety of ways for homebuyers to reduce costs and make smarter financial decisions.  Here’s how you can take full advantage:

#1: Apply for Florida's Homestead Exemption

If you’re making the home your primary residence, you may qualify for the Florida Homestead Exemption, which can reduce your home’s assessed value by up to $50,000, lowering your property tax bill. You must own the home as of January 1 of the tax year and apply with your county property appraiser by March 1.

📍 Counties in our area (Seminole, Orange, Lake, Volusia, Osceola, etc.) all offer the Homestead Exemption.

Some counties also offer additional exemptions for:

• Seniors aged 65+

• Veterans and first responders

• People with permanent disabilities

#2: Take Advantage of First-Time Buyer Programs

Central Florida buyers—especially in counties like Orange and Seminole—can benefit from:

• Down payment assistance programs through the Florida Housing Finance Corporation
  

• State Housing Initiatives Partnership (SHIP) funds managed at the county level
  
  

• Mortgage Credit Certificates (MCCs) that offer a federal tax credit for part of the mortgage interest
  
  

For example, Orange County’s HFA program offers up to $10,000 in down payment assistance, forgivable after five years if you remain in the home.

#3: Property Tax Savings for New Construction or Renovations

If you’re buying a new construction home or planning to renovate an older property in Central Florida, some municipalities offer temporary tax abatements or rebates, especially if you improve the energy efficiency or storm resilience of the home.

Check with your city or county about:

• PACE programs (Property Assessed Clean Energy)
  
  

• Rebates for hurricane window installation or solar panels
  
  

#4: Incentives in Targeted Areas

Certain areas—like parts of Sanford, Deltona, or Kissimmee—may offer revitalization zone or community redevelopment area (CRA) incentives for homebuyers. These often include grants, reduced fees, or rehab assistance for buyers willing to invest in those neighborhoods.

Ask your Realtor if the property you’re considering falls within a CRA district.

#5: Know Where to Find Help

Start with:

• Your county property appraiser’s website

• The Florida Housing Finance Corporation website (floridahousing.org)

• Your city or county housing and community development office

• A real estate team who knows the Central Florida market inside and out

Homeownership in Central Florida is more than just a dream—it’s a smart financial move, especially when you take advantage of the incentives available to you. Whether it’s trimming down your property taxes or getting help with your down payment, there are programs in place designed to help you succeed.