Any veteran age 65 and older may qualify for a homestead property tax discount if the veteran has an honorable discharge from military service. Property owners in Florida may be eligible for exemptions and additional benefits that can reduce their property tax liability.Active military members are extended exemptions or exceptions to vehicle title, registration, and Florida insurance requirements. This exemption is available to any property owner who is a permanent resident of the state of Florida and a Veteran. What is a Homestead Exemption?