The homestead exemption is a statewide program which allows qualified senior citizens and permanently and totally disabled homeowners to reduce their property tax burden by shielding some of the auditor's appraised value of their home from taxation. The exemption takes the form of a credit on property tax bills.

Homestead exemption is $25,000 deducted from your assessed value before the taxes are calculated plus an additional homestead exemption up to $25,000 applied to the assessed value above $50,000. The additional exemption does not apply to school taxes.

The Florida Constitution defines homestead as real property to the extent of no more than one half of an acre of contiguous land in a municipality, owned by a natural person, and the improvements on it. Art. X, §4(a), Fla.

Homestead Exemption: Every person who has legal or equitable title to real property in the State of Florida and who resides thereon and in good faith makes it his or her permanent home is eligible to receive a homestead exemption of up to $50,000. The first $25,000 applies to all property taxes.

Homestead Every person who owns real property in Florida on January 1, makes the property his or her permanent residence or the permanent residence of a legal or natural dependent, and files an application may receive a property tax exemption up to $50,000. The first $25,000 applies to all property taxes.

Required Documentation for Homestead Exemption Application Your recorded deed or tax bill. Florida Drivers License or Identification Card. Will need to provide ID# and issue date. Vehicle Registration. Will need to provide tag # and issue date. Permanent Resident Alien Card. Will need to provide ID# and issue date.

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Permanent Florida residency required on January 1. All persons seeking homestead exemption must complete an original application (Form DR-501).Filing for Florida's Homestead Exemption can offer you tax savings when you own real estate in Florida. If your property is your permanent residence, or homestead, you may be eligible for a tax exemption. Several types of exemptions are available. Property taxes in Florida come in a bit below national averages. An application must be completed and filed in the Property Valuation Office along with documentation verifying age. File For Florida Homestead Tax Exemption. Taxes are collected a year in arrears. For example, if the calendar year is 2023 then the tax year is 2022.

Florida Homestead Exemption Example In Franklin

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