Is it better to get homestead on more expensive propery?

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Is it better to get homestead on more expensive propery?

I own two properties(2 houses), should i get homestead on the one that cost more?
wich is better on tax?

2007-07-27 13:53:15 · 2 answers · asked by Luby 5 in Business & Finance ➔ Taxes ➔ United States

I do live in florida
and both of my homes are with in 500 feet range
i can live in both of them

2007-07-27 14:15:34 · update #1

2 answers

It usually doesn't matter. In most cases the tax break is fixed anyway. However, you normally can only get a homestead exemption on the property that you live in.

Sorry, but you can only have one principal residence.

2007-07-27 14:14:17 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋

Presently in FL you can only get homestead on the property that you live in.

2007-07-27 13:58:06 · answer #2 · answered by drgnotary 3 · 0⤊ 0⤋