What is the Florida homestead exemption and how do I claim it?

Q: What is the Florida homestead exemption and how do I claim it?

Florida's homestead exemption can save you $750–$1,000+ per year on property taxes — but only if you apply and only on your primary residence.

Florida’s homestead exemption is one of the state’s most valuable tax benefits for homeowners — and one of the first things you should apply for after closing. Here’s what it is, what it does, and how to claim it.

What is the homestead exemption?

The homestead exemption reduces the assessed value of your primary residence by up to $50,000 for property tax purposes. Since property taxes are calculated as a percentage of assessed value, a lower assessed value means a lower tax bill.

For most homeowners, this translates to $750 to $1,500 in annual savings, depending on the millage rate in your county.

How does it break down?

Florida’s homestead exemption works in two layers:

First $25,000: Exempt from all property taxes, including school taxes
Second $25,000 (on assessed value between $50,000 and $75,000): Exempt from all taxes except school board taxes

So the full exemption applies only if your home’s assessed value is at least $75,000 — which, in today’s Florida market, applies to virtually every property.

The Save Our Homes cap

This is the underrated part. Once you have a homestead exemption, Florida’s Save Our Homes constitutional amendment caps how much your assessed value can increase each year — regardless of how fast the market rises. The cap is 3% or the rate of inflation, whichever is lower.

This is why long-time Florida homeowners often pay property taxes on assessed values far below market value. If you’re buying from someone who’s owned their home for 10–15 years, their tax bill will look very different from yours until your own Save Our Homes cap kicks in.

How do I claim it?

You must close before January 1 of the tax year you want the exemption to apply to
File with your county property appraiser by March 1 of that year
You must be a permanent resident of the home — it cannot be a rental, second home, or investment property

You only need to file once. After that, the exemption automatically renews as long as you continue to use the property as your primary residence.

Find your county property appraiser at floridarevenue.com.

What if I miss the March 1 deadline?

You can still file a late application, but you’ll need to demonstrate good cause. The exemption will apply to the following tax year.

Have more questions? Browse our full FAQ library or get your free Florida Home Buying Guide.