March 1st , 2022 is the last day for people who purchased their primary Florida residence in 2021 or earlier to file for homestead exemption.
What exactly is a homestead exemption?
The Florida homestead exemption is an exemption that can reduce the taxable value of your home by as much as $50,000. It’s offered based on your home’s assessed value and offers exemptions within certain value limits. Specifically:
- For the first $50,000 in assessed value of your home, up to $25,000 in value is exempted. This exemption applies to all property taxes, including those related to your school district.
- You pay full taxes on any value between $25,000 and $50,000.
- For any assessed value between $50,000 and $75,000, an additional $25,000 is eligible for exemption, but this exemption does not apply to school district taxes.
- For value above $75,000, you pay full taxes.
If I sell my home and buy a new one, do I lose the tax savings I’ve accumulated?
Nope! Florida’s Save Our Homes (SOH) provision allows you to transfer all or a significant portion of your tax benefit, up to $500,000, from a Florida home with a homestead exemption to a new home within the state of Florida that qualifies for a homestead exemption. This is called “Homestead Portability”.
Do I qualify for additional exemptions?
To find out if you qualify for additional exemptions, visit or call your local tax office.