Permanent Florida residency required on January 1. The homestead exemption and Save Our Homes assessment limitation help thousands of Florida homeowners save money on their property taxes every year.Calculate how much you'll pay in property taxes on your home, given your location and assessed home value. They believe the Property Appraiser overvalued their property or improperly denied an exemption. No information is available for this page. How do I apply for Homestead Exemption? At its core, the Florida homestead exemption grants a substantial break on property taxes, crucial for easing homeowners' financial loads.