The Florida homestead exemption deducts a certain amount of assessed value from your primary residence, thereby reducing the property tax you owe on your home. The basic exemption can be up to $50,000. To be eligible for this year’s exemption, you must have been the owner of the property on January 1; the property must be your permanent residence; and you must be a permanent resident of the State of Florida.
First-time application for the Florida homestead exemption is due March 3, 2025. (The customary deadline is March 1, but because March 1 falls on Saturday this year, the deadline has been extended to Monday, March 3.)
If you already have the homestead exemption and there have been no changes in ownership of your home, it is automatically renewed. You should have already received a tax exemption renewal card from your local property appraiser confirming this.
Also, as a result of the Save Our Homes Act of 1992, your annual property tax assessment may increase no more than 3% over the prior assessment, or the percent change in the Consumer Price Index, whichever is less. This assumes no change in ownership of the property. Note that the assessed value for tax purposes is not the same as the market value of your home.
If you have moved and had a homestead exemption on your prior property, you may be able to transfer your Save Our Homes exemption to your new property. This is called portability. To request portability you must file an application, also due by March 3. (Note this is different from the portability of the estate tax exemption from one spouse to a surviving spouse, a concept we have discussed in other blog posts.)
You May Qualify For Additional Florida Homestead Exemptions
Many of our clients may be eligible for additional exemptions beyond the basic $50,000 exemption. You may be eligible for additional exemptions if you are:
- Age 65 or over with limited income.
- Totally and permanently disabled.
- A first responder employed by a Florida agency, who has been disabled as a result of his/her work.
- A disabled veteran age 65 and older with a service-connected disability.
- A widow/widower whose spouse died prior to January 1, 2025, and who has not remarried.
- Have a “granny flat” – i.e., have added living quarters to homestead property in which parents or grandparents reside.
To learn more about these exemptions, eligibility requirements, how to apply, and what forms are needed, check with your county’s property appraiser. Click here for the location and contact information of the property appraiser in your county.