Property owners in Florida may be eligible for exemptions and additional benefits that can reduce their property tax liability. Applications must be filed between the first Monday in.January and March 1. 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 specific amount of each property tax exemption should also be included on the tax roll. To qualify for homestead, you must meet the residency requirements and fill out a form from the Property Appraiser's office. For example, certain states require foreign missions and their members to complete a streamlined sales tax agreement exemption certificate. Florida Statutes define property tax exemptions that are available in the State of Florida.