It’s That Time Of Year Again! (2026 Tax Season)

As the 2025 tax season approaches, Florida homeowners and real estate investors should prepare now to maximize savings and avoid missed deadlines. Here are key tax tips for residents of Manatee County, Sarasota, Tampa Bay, and Anna Maria Island.

1. Apply for Florida Homestead Exemption by March 1, 2026
   If you purchased your primary residence in 2025, make sure to file for the Florida Homestead Exemption before the March 1 deadline. This exemption can significantly reduce your property taxes and allows for homestead portability benefits across Florida counties. Visit your county property appraiser’s office or website to apply.
2. Explore First-Time Homebuyer Incentives
   While the federal first-time homebuyer credit has ended, Florida and some local municipalities may still offer tax incentives or assistance programs for new homeowners. Consult a tax professional to learn about any available credits or benefits for your 2025 home purchase in areas like Manatee County, Sarasota, or Tampa Bay.
3. Deductible Closing Costs for Real Estate Purchases
   If you bought an investment or vacation rental property in 2025, remember some closing costs and fees are potentially tax-deductible. Request your closing statement from your realtor or title company and review it with your accountant to maximize your deductions on your 2025 tax return.
4. Maximize Investment Property Tax Benefits
   Florida real estate investors should speak with qualified tax advisors about additional deductions, depreciation, and write-offs available for rental properties. Proper tax planning can reduce liabilities and boost overall investment returns.

At TeamDuncan Real Estate, we assist Florida homeowners by providing closing documents and referring trusted tax professionals. Contact us today to get help preparing your 2025 tax filings and take full advantage of all available real estate tax benefits.