Property owners in Florida may be eligible for exemptions and additional benefits that can reduce their property tax liability. The deadline to file for homestead exemption is March 1st of the current tax year.Homestead Exemption. All legal Florida residents are eligible for a Homestead Exemption on their homes, condominiums, co-op apartments, and certain mobile home lots if they qualify. When to file: Application for all exemptions must be made between January 1 and March 1 of the tax year. All legal Florida residents are eligible for a Homestead Exemption on their homes, condominiums, co-op apartments, and certain mobile home lots if they qualify. The most common real property exemption is the homestead exemption.