Property owners in Florida may be eligible for exemptions and additional benefits that can reduce their property tax liability. When to file: Application for all exemptions must be made between January 1 and March 1 of the tax year.The Homestead Exemption is required for this exemption. The Florida Constitution requires all property to be assessed at just value as of January 1 of each year for purposes of ad valorem taxation. Important: A change in the title of your property such as conveying into a trust or adding a spouse, could result in a loss or change to your exemption.