The Florida homestead exemption: do you qualify and how much

The homestead exemption reduces taxable value. It doesn't cap how fast your assessed value can grow. That second rule is Save Our Homes. If you're trying to understand the growth cap, read our Save Our Homes assessment cap guide.

An assessment appeal is different too. It challenges a property tax assessment rather than applying an exemption. Our Florida property tax appeal guide explains that process.

Florida law gives a qualifying title-holder an exemption “up to the assessed valuation of $25,000 on the residence and contiguous real property.” (Fla. Stat. 196.031(1)(a)).

To qualify, the title-holder must “in good faith make the property his or her permanent residence.” The law requires “legal title or beneficial title in equity” and allows the the owner to make it “his or her permanent residence or the permanent residence of another or others legally or naturally dependent upon him or her” (Fla. Stat. 196.031(1)(a)).

Everyone who qualifies for the base exemption is entitled to an “additional exemption of up to $25,000 on the assessed valuation greater than $50,000 for all levies other than school district levies” (Fla. Stat. 196.031(1)(b)).

In plain language, this additional exemption applies only to assessed value between $50,000 and $75,000. It doesn't reduce school district taxes. The full exemption can reach $50,000 for non-school levies, while school district levies get only the base exemption of up to $25,000.

The date rule starts with this phrase: “A person who, on January 1, has the legal title or beneficial title in equity” (Fla. Stat. 196.031(1)(a)). Ownership and permanent residence must both exist as of January 1.

The property appraiser administers eligibility. If your ownership or residence situation is not simple, ask your county property appraiser how the rule applies before you submit form DR-501.

Apply with your county property appraiser using form DR-501. The property appraiser administers eligibility and the application.

Filing deadlines are handled locally. Confirm the deadline and the county's application details with your property appraiser instead of relying on a general date.

1. Check the January 1 rule. Confirm that you held legal title or beneficial title in equity and made the property your permanent residence on January 1.
2. Get form DR-501. Use the homestead exemption application provided by your county property appraiser.
3. Confirm the local deadline. Ask your county property appraiser to confirm its filing deadline and application details.
4. Submit the application to the property appraiser. The county property appraiser administers eligibility and the application.

Florida has other property tax exemptions beyond the homestead exemption. This guide is not an exhaustive list. Review the official Florida statute and ask your county property appraiser which applications may fit your situation.