Complete the questions that follow. Certain property tax benefits are available to persons age 65 or older in Florida.Eligibility for property tax exemp ons depends on certain requirements. The Department of Revenue (DOR) has created this fact sheet to provide general information about local property tax exemptions for seniors. A senior property tax exemption reduces the amount seniors 65 years of age or older have to pay in taxes on properties they own. Maintain or obtain an out-of-state residency based tax exemption, reduction, benefit, credit, etc. (e.g. In order to qualify for homestead exemption, permanent Florida residency must be established as of January 1. Permanent Florida residency required on January 1. The Elderly Exemption reduces the local property tax liability of seniors (65 years of age).