Property owners in Florida may be eligible for exemptions and additional benefits that can reduce their property tax liability. By law, a homestead exemption is not transferable.If you move, your homestead exemption does not automatically follow you to your new residence. To request an application for exemption, please call our office at 919-856-5400. Claiming a Florida homestead exemption involves some very specific requirements that must be completed within a specified time frame. Calculate how much you can expect to pay in property taxes on your home in Wake County, North Carolina. Compare your rate to the state and national average. Homestead: This exemption can help homeowners reduce state property taxes and protect surviving spouses from creditors.