Homestead exemption

Florida's homestead exemption lowers the assessed value used to calculate property tax on an owner's primary residence, and it's the gateway to the Save Our Homes cap that limits future assessment increases.

It applies only to a permanent primary residence, not a second home or an investment property, and it's claimed with the county Property Appraiser. The exemption amounts and the rules are set by state law and can change, so the current figures come from the state and the appraiser rather than from a page like this.

For a buyer, the most important practical point is that a seller's tax bill — often reflecting years of homestead protection — is usually a poor guide to what the same home will cost you after the assessment resets.