Homestead Exemption

As a homeowner, you are entitled to file for a tax exemption called a "homestead exemption". This exemption reduces the tax-assessed value of your primary residence or "homestead" by $25,000. The amount of money you pay in annual property taxes is determined by the tax assessed value of your home. Since you will likely pay your property taxes into an escrow account within your monthly mortgage payment, filing for your homestead exemption will reduce your monthly mortgage payment. More importantly, filing for your Florida Homestead Exemption will cap your annual property tax at a maximum 3% increase, known as “Save Our Homes”; without it, you will experience higher tax increases each year.