The homestead exemption and Save Our Homes assessment limitation help thousands of Florida homeowners save money on their property taxes every year. The main requirement for someone to claim a homestead exemption is that they use the home as a primary residence.Programs may have strict income limits or tiered eligibility that phases out as income increases. 1. Edit, sign, and share homestead exemption online. No need to install software, just go to DocHub, and sign up instantly and for free. "The final deadline to apply for the Homestead Exemption is December 1 of each year.