What is the Granny Flat Exemption?

Picture of happy family with grandparents, adult children, and children exemplifying benefits of Granny Flat Exemption

Florida Statute 193.703 contains the Assessment Reduction of New Construction for Parent(s) or Grandparent(s) Living Quarters, commonly known as the Granny Flat Exemption. Per the statute, qualified Florida homeowners who add living quarters for a parent or grandparent can have all or part of the value of this new construction deducted from the assessment, saving on property and real estate taxes. 

The value excluded cannot exceed:

  1. The increase in assessed value resulting from constructing or reconstructing the property for use as living quarters or 
  2. 20% of the total assessed value of the property as improved.

A homeowner’s potential savings from the Granny Flat Exemption cannot be reduced on a local level.

Who is Eligible for the Granny Flat Exemption?

  • The property must be homesteaded by the property owner
  • The construction or reconstruction must be properly permitted
  • The parent or grandparent must be 62 or older as of January 1st of the year which the reduction in assessed value is sought
  • The ‘Granny Flat’ must be the permanent residence of the parent or grandparent
  • The construction or reconstruction must have been completed after January 7, 2003

How do I apply for the Granny Flat Exemption?

Download and complete the application form from your county or property appraiser’s website. Be sure to attach all required supporting documents and provide the qualifying owner and parent or grandparent’s signature. Mail or file the application according to the provided instructions. All Granny Flat Applications are due by March 1st of the year in which the reduction in assessed value is sought. The Granny Flat Assessment Reduction will be automatically renewed annually. Homeowners must notify the Property Appraiser’s Office if they no longer meet the eligibility requirements.

EPGD Business Law is located in beautiful Coral Gables. Call us at (786) 837-6787, or contact us through the website to schedule a consultation.

*Disclaimer: this blog post is not intended to be legal advice. We highly recommend speaking to an attorney if you have any legal concerns. Contacting us through our website does not establish an attorney-client relationship.*

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Eric Gros-Dubois

Founding partner Eric Gros-Dubois established EPGD Business Law in 2013. With over a decade of experience expanding the firm and leading it to its current success, Eric now primarily manages the corporate division of EPGD. Given Eric’s educational background, holding both a JD and MBA, combined with his own unique experience of starting a business from scratch and growing it to a multi-million dollar firm, he brings a specialized and invaluable perspective to those seeking legal assistance for themselves and their businesses. Having now instilled his same values in our team of skilled corporate associates, Eric leads a firm that is always ready, willing, and equipped to handle any and every legal matter that a business owner may have.

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