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. To qualify for the homeowners' exemption, the home must have been the principal residence of the owner as of January 1 of that tax year.To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located. A homestead protects some of the equity in your home. If you live in the home you own, you already have an automatic homestead exemption. A homestead exemption can benefit homeowners if one spouse in a twoincome household dies. The homestead exemption is a legal regime to protect the value of the homes of residents from property taxes, creditors, and circumstances The Homestead Exemption was designed for longevity. The longer you reside on your homestead property, the more tax savings you accumulate year after year. 2010 California Code Code of Civil Procedure Article 4.
