Tip – What is the Florida Homestead Exemption?

The Florida homestead exemption is a property tax relief program available to permanent residents of Florida who own and occupy their primary residence. Here are the key details:

1. What is the Florida Homestead Exemption?
   • The Florida Homestead Exemption allows eligible homeowners to exempt up to $50,000 of the assessed value of their primary residence from property taxes. This exemption applies to all property taxes, including school district taxes.
2. Eligibility Criteria:
   • To qualify for the homestead exemption, you must:
     • Be a permanent resident of Florida.
     • Own and occupy the property as your primary residence as of January 1st of the tax year.
     • Apply for the exemption by the deadline (usually March 1st).
3. How to Apply:
   • To apply for the homestead exemption, you need to submit an application to the county property appraiser’s office where the property is located.
   • You will need to provide documentation proving your residency and ownership of the property.
4. Additional Exemptions:
   • Besides the homestead exemption, Florida offers several other property tax exemptions, including:
     • Senior Citizen Exemption: Available to residents aged 65 and older who meet certain income requirements.
     • Veteran Exemption: Available to disabled veterans and certain surviving spouses.
     • Widow/Widower Exemption: Available to widows/widowers who meet certain criteria.
     • Disability Exemption: Available to residents with a documented disability who meet certain criteria.
     • Additional exemptions may vary by county, so it’s essential to check with your local property appraiser’s office for specific details.
5. Renewal:
   • Once approved, the homestead exemption typically renews automatically each year, as long as you continue to meet the eligibility requirements.
6. Benefits:
   • The homestead exemption can result in significant savings on property taxes, making homeownership more affordable for Florida residents.

Remember to consult with your local property appraiser’s office for the most accurate and up-to-date information on the Florida Homestead Exemption and other available exemptions.