You must file the Transfer of Homestead Assessment Difference Form DR-501T with the homestead application Form DR-501 for your new home. ✓ Learn here today!Owner must submit proof of financial capability. G. The application package must be complete. Calculate how much you'll pay in property taxes on your home, given your location and assessed home value. In order to qualify for homestead exemption: You must be a Florida resident. Meet the March 1 filing deadline. The homestead exemption will last until the end of the year and you will have until March 1st to apply for homestead exemption. The amount of the appraised value of the permanent residence and up to a one (1) acre homesite may be excluded from taxation. You can hold Property in a Trust in the State of Florida and still maintain the homestead tax exemptions to allow you to take advantage of the tax incentives.
