Did you know that Indian River County adopted an ordinance offering an reduction in assessment for the living quarters of parents or grandparents? What the exemption does is provides a reduction in the assessed value of the homestead property equal to any increase in assessed value on the property that would happen as a result of building or remodeling an area of the property or home for the purpose of a “mother-in-law suite” or a “granny flat.” These living quarters are often provided for the parents or grandparents of the owner or the owner’s spouse.
The exemption does stipulate that the person living in this separate quarters must be at least 62-years old. Also, it is only effective if the construction or reconstruction is consistent with local laws and proper permits were pulled. Plus, it only works if the main property qualifies as a homestead. There are some additional and reasonable stipulations which you can find here.
We Are Your Indian River County Experts
Please consider our team at Alex MacWilliam Real Estate whether you’re selling your home or looking for a new one. We love helping make people’s dreams come true. Plus, we’re experts in this area. Want to find a place to golf in Vero Beach? Just ask one of our skilled realtors while touring your potential new house! Our realtors will try to answer any questions you might have about amenities you can find nearby. Also, check out our Vero Beach relocation guide.
Feel free to use our online search tool to find Vero Beach real estate from your device now. Plus, while you’re at it, also check out:
- Open houses in Vero Beach
- Featured Vero Beach real estate
- 55+ condo communities in Vero Beach
- Single family homes in Vero Beach with acreage
So, if you are considering relocating to Vero Beach, please contact us today. Our real estate team is extremely knowledgeable about the area and can find the perfect home for you. Call us at 772-231-6509 to talk to a Realtor® in Vero Beach, FL today. We can search the MLS and find your dream home.