A House in Florida with Trees

Homestead Tax Deferral Program

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The program is designed to assist homestead tax exempt taxpayers to defer a portion of their property taxes. The amount that can be deferred is based on age and the adjusted gross income of all members of the household.

  • If the last year’s adjusted gross income for all members of the household was less than $10,000.
  • If taxes and assessments are more than 5% of the adjusted income of all members of the household.
  • If the applicant is younger than 65 years old – Taxes must exceed 5% of the applicant’s household income.
  • If the applicant is 65 or older- Taxes must exceed 3% of the applicant’s household income.

The deferred portion becomes a first Lien on the property with interest, which accrues until the taxes are paid, and cannot exceed 7 percent.

All deferred taxes plus interest constitute a prior lien on the homestead per FL Statute 197.262 and are due and payable with any changes in:

  • Property use
  • Homestead exemption eligibility
  • Ownership
  • Failure to maintain the required Fire and Extended Insurance coverage.

Department of Revenue Form(DR-570)

The application deadline is on or before March 31st.

Eligibility Requirements for the Homestead Tax Deferral Program

  • Must be entitled to claim homestead tax exemption. To qualify for the homestead tax exemption contact the Citrus County Property Appraiser’s office at (352) 341-6600 or their website here.
  • Proof of Fire and extended home insurance coverage in an amount at least equal to the total of all outstanding liens, including a lien for deferred taxes, non-ad valorem assessments, and interest, with a loss payable clause to the Tax Collector. A clause obligating the Insurance carrier to notify the Tax Collector of cancellation or non-renewal.
  • Provide proof of income – Federal Income Tax return or Social Security Form
  • Required to submit an annual application for tax deferral with the Tax Collector on or before March 31st, following the year in which the taxes and non-ad valorem assessments are assessed.