What is Homestead Exemption? If you own your home, reside there permanently and are a Florida resident as of January 1, you may qualify for homestead exemption.The Homestead Exemption was designed for longevity. The longer you reside on your homestead property, the more tax savings you accumulate year after year. The homestead exemption and Save Our Homes assessment limitation help thousands of Florida homeowners save money on their property taxes every year. The most common real property exemption is the homestead exemption. At its core, the Homestead Exemption lowers the taxable value of your primary residence, which, in turn, reduces your property tax bill. The Florida homestead exemption is a property tax break that's offered based on your home's assessed value and provides exemptions within a certain value limit. Your exemption will automatically renew each January as long as title does not change on the property and your residency status remains the same. You must apply for a Homestead Exemption, and once approved, the cap will be applied automatically.

Florida Homestead Exemption Explained In Orange

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