Property owners in Florida may be eligible for exemptions and additional benefits that can reduce their property tax liability. The Chief County Assessment Office has authority to recapture taxable value in instances where property owners have received homestead benefits erroneously.If title to the home is held in the name of a trust, the applicant must have equitable title or beneficial interest to qualify for the homestead exemption. You can apply for the exemption online or at the Township Assessor's office. An annual verification of eligibility must be filled out each year. A property tax exemption is like a discount applied to your EAV. If you qualify for an exemption, it allows you to lower your EAV. You can apply for the exemption online or at the Township Assessor's office. An annual verification of eligibility must be filled out each year. Homestead Improvement Exemption.