Property owners in Florida may be eligible for exemptions and additional benefits that can reduce their property tax liability. 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.If you're planning to claim a homestead exemption, you must first apply for a Florida driver's license. All applications submitted, must include copies of the following required documentation (Proofs of Residency) for all owners who apply. Some Floridians are even completely exempt from paying property taxes. Toggle View: Blindness. Proof of Florida voter registration (must reflect permanent residence address). There are a number of state (F. S. 196.031) and local laws providing exemptions that can result in a lower taxable value on certain properties. The most common real property exemption is the homestead exemption.