To qualify for homestead exemption, you have to declare Florida as your permanent residence. For example, if you vote, you must vote in Florida.The Taxpayer Relief Act provides for property tax reduction allocations to be distributed to school districts through a "homestead or farmstead exclusion." A homestead exemption can benefit homeowners if one spouse in a twoincome household dies. As a property owner in Florida, homestead exemption is one way to reduce the amount of real estate taxes you pay on your residential property. A homestead exemption is a legal provision that shields a home from some creditors following the death of a homeowner's spouse or the declaration of bankruptcy. The exemption is not automatic. You will need to do the following to become a Florida resident and obtain the homestead exemption. There are a number of state (F. S. 196.031) and local laws providing exemptions that can result in a lower taxable value on certain properties.
