The Florida homestead exemption is a property tax break that's offered based on your home's assessed value and provides exemptions within a certain value limit. The Arizona homestead exemption is automatic, meaning that no written claim is required.A homestead exemption can benefit homeowners if one spouse in a twoincome household dies. The homestead exemption and Save Our Homes assessment limitation help thousands of Florida homeowners save money on their property taxes every year. A homestead exemption is a legal provision that shields a home from some creditors following the death of a homeowner's spouse or the declaration of bankruptcy. So, a homestead exemption is a legal provision designed to protect the value in a principal dwelling place. The homestead can't exceed one acre in a city or 160 acres in a rural area. The Homestead Declaration emerges as an important tool for Arizona homeowners.
