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Setting Up Homestead Groupings

Purpose

Use this procedure to create a grouping in which the HS exemption is apportioned between the land and real property, such as a manufactured home, on a pro rata basis according to the appraised value of the components.

Note The HS exemption applies proportionally to all properties in the group. Likewise, the cap loss is prorated over all properties. A separate page detailing the rules and workings of Homestead Groups can be found at this link. A PDF version of the details page can be accessed at this link.

Procedure

  1. In PACS Appraisal, open the first property to include in the group and click the SplitMerge-Lnk tab.
  2. Click the Add button displayed to the right of the Homestead Group window.

    Exemptions, SplitMerge tab, Homestead Group window, Add button, 8111x, 001

  3. Use the Select Property Wizard to locate and select the next property to add to group. Continue adding properties as needed.

Next Steps

The Homestead exemption and cap loss values are detailed in the HS Cap Value Breakdown dialog box, which you can access by clicking the HS Cap Loss button in the Property Values tab.