Research Symposium

BIO

I am a second-year economics student from Miami, Florida. I am currently working on research involving the homestead exemption in Florida, and my major research interests are in statistics and insurance. I plan to become a CFP in the future.

Closing the Gap in Homestead Exemption Participation Rates

Abstract

This research examines the effects of letter reminders and text message reminders on the take-up rate for the homestead exemption. This is being investigated to find policy implications and methods to close the take-up rate gap of the Homestead exemption. Information is gathered by mailing letters to people who are eligible but have not signed up for the homestead exemption. In this letter, we offer text message reminders that could be signed up for. Using the participant's information, data is gathered, and demographic information is produced. I produced 3000 letters to be mailed to eligible non-participants.The expected results are that text message reminders and letter reminders will be greatly effective at getting non-participants to sign up for the homestead exemption.The significance of the expected result is that there is an issue with the government's communication of homestead exemption, which may affect areas that typically use fewer realtors and areas that have less access to the internet. This shows the need for a policy that will communicate information about the homestead exemption to those who may be less likely to have access to that information.

Keywords: Gap Homestead Exemption