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Marsha Winegarden
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Benefits of a Homestead Exemption

  • Entitles most homeowners to a deduction of $25,000 off of their property’s assessed value, resulting in a property tax savings.
  • If your home is worth at least $75,000, you will receive an additional $25,000 deduction from your assessed value, although that additional deduction will not apply to school tax levies. 
  • You may also qualify for additional homestead exemptions if you are over 65 years old or have a disability. 
  • Receipt of a homestead exemption means that  the assessed value of your homestead property cannot increase more than 3% per year or the percent change in the Consumer Price Index (pursuant to the Save Our Homes Amendment to the Florida Constitution).
    • In many cases, this tax savings can  now be transferred to a new Florida residence if you move.

How to Apply for a Homestead Exemption

  • Homestead exemption applications  must be filed with the county Property Appraiser by March 1st of the tax year for which the exemption is sought.
  • If you already have a homestead exemption, you probably do not need to re-apply, as most counties use an automatic renewal process, whereby you only need to notify the Property Appraiser if you are no longer entitled to the exemption.

What property qualifies for a homestead exemption?

  • Must have either legal or beneficial title to the property
  • Must be the permanent residence of either yourself or someone who is legally or naturally dependent on you.
    • The property can be owned by a trust, as long as the applicant retains beneficial title and a possessory interest in the property.
    • The homestead exemption may not be claimed by a corporation.
  • Statutory factors for permanent residency, including but not limited to:
    • The existence of a formal declaration of domicile
    • Where your children are registered for school
    • Your place of employment
    • The address where you are registered to vote,
    • The address on your driver’s license or identification card, vehicle registration,
    • The address on your federal income tax returns,
    • The address on your bank statements, and proof of payment for utilities at the subject property.
  • The homestead exemption only applies to that portion of the property that is classified and assessed as owner-occupied residential property.  Thus, mixed-use properties may only receive the homestead exemption benefits on a portion of the property.
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 02/02/2023. The listing information on this page last changed on 02/02/2023. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Stellar MLS (last updated Thu 02/02/2023 1:14:22 PM EST). Real estate listings held by brokerage firms other than Wagner Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

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