Updated November 4, 2026
Homestead: what the Property Appraiser says
The Pinellas County Property Appraiser lists the basic requirements for homestead exemption: you must hold title and be a Florida resident living in the home as your permanent residence on January 1 of the tax year.
The Property Appraiser's site also says you no longer qualify if the property is rented, sold or otherwise disposed of, or ownership changes in a way that affects the exemption, citing Section 196.011(9)(a) of the Florida Statutes. It adds: you need to notify the Property Appraiser's office if you no longer qualify.
What to do
- Contact the Pinellas County Property Appraiser before or when the house is rented, and ask what notice they need.
- Ask about how the change affects your property tax bill. We do not give numbers because they depend on your property.
- If you move to a new Florida home, ask the office about what carries over to a new homestead.
- Keep copies of anything you send.
The Property Appraiser's website also has a form to report homestead fraud, so it is worth getting this right.
Rental income and the IRS
The IRS Topic 414 says rent you receive is taxable as rental income. It includes advance rent, payments a tenant makes to cancel a lease, and expenses the tenant pays for you. Security deposits are generally not income if you may have to return them, but amounts you keep are generally included.
Rental income and expenses are generally reported on Schedule E. Deductible categories include depreciation, repairs and operating costs such as fees charged by independent contractors. The IRS notes that repairs that keep the property in good working condition differ from improvements that add value.
Things to talk over with a tax professional
- How and when to begin depreciation, which starts when the property is placed in service
- Limits on deducting rental losses
- What to do if you also use the home personally; the IRS has special rules for property that is also your main home
- How a future sale of the home may be taxed after you have rented it
- Keeping good records of income, expenses and receipts
We are not tax advisors. A CPA or enrolled agent who works with rental owners can look at your whole picture.
Tourist development tax for short rentals
If you rent for six months or less, the Pinellas County Tax Collector says you must register for tourist development tax. See our short-term versus long-term guide.
A property manager can often tell you which taxes apply to the type of rental they handle. TheBayPros' free matching form is one way to find a local one.
Keeping records from day one
Good records make tax time easier and protect you in a dispute. Keep:
- The lease, move-in report and photos
- Records of rent received and the date it arrived
- Receipts for repairs, supplies and services
- Statements from any property manager
- Your mortgage interest and property tax statements, as your tax professional directs
Set up a separate bank account for the rental if you can. It makes the paperwork much cleaner.
Who to contact
For homestead, contact the Pinellas County Property Appraiser. For property taxes billed and for tourist development tax, contact the Pinellas County Tax Collector. For federal income tax, use the IRS or a tax professional. Each office handles a different piece, and it is easy to mix them up.
The timing question
Homestead status is tied to your situation on January 1 of the tax year, according to the Property Appraiser. That is why it helps to call the office early when you know you will rent, rather than waiting until a tax bill arrives. Ask them how your move date and lease start date affect the coming tax year.
If you plan to move back in
Many owners rent for a while and then return. Homestead is based on your living in the home as your permanent residence, so ask the Property Appraiser what you would need to do to apply again once you are back. Applications are due by March 1 for the tax year you want to qualify, according to the Property Appraiser. Keep notes on your dates so you can answer questions about when you moved out and in.
Frequently asked questions
Do I lose homestead if I rent my house?
The Pinellas County Property Appraiser says you no longer qualify if the property is rented, and you need to notify the office.
Is rental income taxable?
Yes, the IRS says rent received is taxable rental income. Certain expenses may be deducted.
Where do I report rental income?
Generally on Schedule E of your federal return, per IRS Topic 414. A tax professional can confirm.
Is a security deposit taxable income?
The IRS says generally not if you may have to return it. Amounts you keep are generally included.