CFE Exemptions & Classifications Flashcards
6 cards from real CFE practice questions. Tap to flip, then mark Knew It or Still Learning โ missed cards come back until you master them.
Read the first 6 CFE Exemptions & Classifications flashcards as text
A property owner in Florida believes their agricultural classification was wrongly denied. What is the correct first step to challenge this decision?
Answer: File a petition with the Value Adjustment Board (VAB)
A property owner denied agricultural classification may petition the Value Adjustment Board (VAB) for a hearing to contest the property appraiser's decision.
Under Florida law, which disability-related exemption provides a full exemption from ad valorem taxes for certain qualifying veterans?
Answer: Veterans with a total and permanent service-connected disability are fully exempt
Under F.S. 196.081, veterans with a total and permanent service-connected disability are entitled to a full exemption from ad valorem taxes on their homestead property.
What is the primary purpose of Florida's 'greenbelt law' in relation to property tax assessment?
Answer: To preserve agricultural lands by taxing them at use value rather than market value
Florida's greenbelt law (F.S. 193.461) preserves agricultural land by requiring it to be assessed at its current agricultural use value rather than its highest and best use market value.
Which Florida statute provides for an additional homestead exemption of up to $50,000 for low-income seniors?
Answer: F.S. 196.075
F.S. 196.075 authorizes counties and municipalities to grant an additional homestead exemption of up to $50,000 for low-income senior citizens aged 65 and older.
When a Florida property changes ownership, what typically happens to the Save Our Homes assessment cap?
Answer: The property is reassessed at just/market value for the new owner
Upon a change of ownership, the Save Our Homes cap is removed and the property is reassessed at just value (market value) for the new owner.
Which of the following would cause a Florida homestead exemption to be revoked?
Answer: The owner establishing a new permanent domicile at another location
Establishing a new permanent domicile elsewhere eliminates the owner's eligibility for Florida homestead exemption, which requires the property to be the owner's permanent residence.