If you own a home in Florida and it is your primary residence, there is an important tax benefit you should not overlook: the Florida Homestead Exemption. This exemption is designed to help homeowners reduce their property tax burden while also protecting them from sharp increases in assessed value over time.

What Is the Florida Homestead Exemption?

The Florida Homestead Exemption lowers the taxable value of your primary residence by up to $50,000. In addition to this upfront reduction, it includes a long-term protection called the “Save Our Homes” cap, which limits how much your assessed value can increase each year.

Who Is Eligible?

To qualify for the homestead exemption, the following conditions must be met as of January 1 of the tax year:

• You own the property or hold beneficial title
• The home is your permanent, primary residence
• You are not claiming a residency-based tax exemption in any other county or state
• If you are married, only one property may be claimed as a permanent residence

How the Savings Work

The homestead exemption provides two key benefits:

Taxable Value Reduction
The first $25,000 exemption applies to the first $50,000 of your home’s assessed value and applies to all property taxes, including school taxes. An additional exemption of up to $25,722 (for 2025) may apply to the portion of assessed value over $50,000 and applies to non-school taxes only.

Save Our Homes Assessment Cap
Once a property is homesteaded, annual increases in assessed value are capped at the lower of 3 percent or the change in the Consumer Price Index. Over time, this can result in significant savings, especially in rising markets.

How to Apply

Homeowners must apply through their county Property Appraiser’s office.

• Complete the Original Application for Homestead and Related Tax Exemptions (Form DR-501)
• File by the March 1 deadline for the year you want the exemption to begin

Typical documentation includes a Florida driver’s license or ID showing the property address, vehicle registration, voter registration if applicable, Social Security numbers for owners and spouses, and a copy of the recorded deed. Non-citizens may also need to provide a Permanent Residence Card.

Once approved, the exemption usually renews automatically each year as long as eligibility has not changed.

Homestead Portability

If you sell a homesteaded property and purchase a new primary residence in Florida, you may be able to transfer your Save Our Homes tax savings to the new home. This process is known as homestead portability. To do so, you must apply for homestead on the new property and file Form DR-501T by the March 1 deadline.

Additional Exemptions You May Qualify For

Florida also offers additional property tax exemptions for qualifying homeowners, including:

• Seniors age 65 and older who meet income and local requirements
• Disabled veterans and certain active-duty military members
• Disabled individuals, widows, and widowers who meet specific criteria

The Florida Homestead Exemption is one of the most valuable benefits available to homeowners in the state. If your home is your primary residence, applying can lead to immediate tax savings and long-term protection against rising property taxes.

If you are unsure whether you qualify or need help understanding portability or additional exemptions, speaking with a local real estate professional or your county Property Appraiser is a great place to start.