Homestead Exemption

If you own your home, reside there permanently, and are a Florida resident as of January 1, you may qualify for Homestead Exemption. This exemption can reduce the taxable value on your home by as much as $50,000, saving you approximately $750 annually. More importantly, your assessed value, which is used to calculate your property taxes, cannot increase by more than 3% annually after you are granted the exemption.

The Save Our Homes cap limitation for 2020 is 2.3%. In order to receive this benefit, you must apply before March 2, 2020. Not applying by March 2 constitutes a waiver of the exemption for that year and you must apply for the next year instead.