To qualify for a homestead exemption in Florida, individuals must use the property as their primary residence as of January 1 of the tax year. 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.A user account on the Portal will allow organizations to review and manage tax exemption applications from year to year in a single, centralized environment. An individual is entitled to a homestead exemption consisting of property in this state in an amount not exceeding: If you did not receive an exemption, write in the address where you lived last year. 9. One place to search and find your next commercial real estate rental.