I received word yesterday that a letter was recently mailed out to homeowners in Miami-Dade County who qualify for a 2008 Homestead Exemption. In the letter, the Miami-Dade Property Appraiser's Office asks everyone who either filed or plans to file for a Homestead Exemption to also file a Portability Application Form (DR-501T) even if you don't qualify for portability.

The letter explicitly states "if you do not want to apply for this benefit (portability), please write 'none' across the Transfer of Homestead Difference form, sign it, and return with your homestead application".

In other words, if you do not benefit from portability in 2008, write the word 'none" in big black bold letters across the Portability Application Form (DR-501T), sign it, and return it with the Homestead Exemption application.

If you already filed for a Homestead Exemption, you must do the same. However, if I were you, I'd put my 13-digit folio number somewhere on the Portability Application Form (there is a space provided on the application labeled "Parcel ID Number") so that the Property Appraiser's Office knows what property the form corresponds to.

If you did not apply or will not be applying for a Homestead Exemption in 2008, you do not have to do anything. Relax.

A copy of the aforementioned letter, dated February 15, 2008, can be seen here.

By the way, the last day to apply for a Homestead Exemption is March 3, 2008, not March 1, 2008 as stated in the letter.

Adrian Salgado is a Realtor Associate with RED I Realty and can be reached at 305-491-7179 or SalgadoA@gmail.com