The Homestead Exemption in Florida

A person who owns property and makes it his or her permanent residence (or the permanent residence of a dependent) may receive a homestead exemption of up to $50,000. The first $25,000 applies to all property taxes, including school taxes. The additional exemption of up to $25,000 applies to assessed value over $50,000 and only to non-school taxes; since a 2024 base year, this additional amount is adjusted each January 1 for inflation (CPI) when the change is positive. The home must be the permanent residence by January 1 of the tax year.

File Form DR-501 (Original Application for Homestead and Related Tax Exemptions) with the county property appraiser; many appraisers accept applications online. Be ready to give the names on the title on January 1, Social Security numbers for you and your spouse/co-applicant, and proof of residency such as a Florida driver license or ID, Florida vehicle registration, voter registration, a declaration of domicile, and your IRS return address. Only the property appraiser decides eligibility. Notify the appraiser if the home is rented, is no longer your permanent home, or you are no longer a Florida resident.

Submit Form DR-501 to the county property appraiser by March 1 of the tax year. The Save Our Homes portability transfer form (DR-501T) is also due March 1, filed with the homestead application.

Save Our Homes: after the first year a home receives the homestead exemption and is assessed at just value, its assessed value cannot increase more than 3% or the percentage change in the Consumer Price Index, whichever is less, and never above just value. A change of ownership or loss of homestead triggers reassessment at just value the next January 1 (transfers between spouses and certain transfers at death do not). Owners moving to a new Florida homestead may transfer ('port') all or part of the accumulated benefit if they establish the new homestead within three years of January 1 of the year they left the old one.