The debtor must be a permanent resident of Florida. The homestead property must be his primary place of residence.Recording a Declaration of Homestead protects your principal residence up to the statutory maximum. 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. This article discusses the intricacies of the Florida Homestead Exemption in relation to nontraditional families. All property tax exemptions in Nevada are stated in "assessed value" amounts. To simply fill in a form from their County or State recorders office and legally file an exemption of homestead. The homestead exemption and Save Our Homes assessment limitation help thousands of Florida homeowners save money on their property taxes every year. To apply, a homestead exemption application (DTE 105A) must be filed with the Auditor after January 1 and on or before December 31 in the year of application. Fritz Kaegi, Cook County Assessor.