A proposed state constitutional amendment would increase Florida's homestead exemption for property taxes. ✓ Learn here today!Do you want to know about the Arizona homestead exemption? You may need to record a Declaration of Homestead. Filing for Florida's Homestead Exemption can offer you tax savings when you own real estate in Florida. Specific calculations used in the practical examples found herein are for demonstration purposes only. Publication Formatting and Style. One place to search and find your next commercial real estate rental.