Tax exemption is a tax benefit for permanent residents of Florida where they can reduce the taxable value of their property. Florida law allows each person who has legal or equitable title to property and holds it as their permanent residence to claim $25,000 in tax exemption on the assessed value of the property.

Another benefit of obtaining homestead exemption on your property is that they can only increase annual taxes by 3%. Also your property, being your primary home, is protected from creditors. In other words, your home cannot be claimed as payment of a debt.

Types of exemptions:

Widow(er) exemption: A $500.00 exemption for widows and widowers. It expires at the time you remarry. You are required to provide the death certificate as proof to obtain the exemption.
Disability Exemption: This is a $500.00 exemption for homeowners with disabilities in the state of Florida.
Disabled Veterans: This is for veterans who are at least 10% disabled.
Grandparent’s Exemption: This is a reduction in the assessed valuation of a parent’s or grandparent’s property or home.
Total and Permanent Disability: Exemption for any honorably discharged veteran with a total and permanent disability.
Institutional exemptions for sole proprietorships or charitable, religious, educational, scientific or governmental organizations may be subject to partial or full exemptions.

If you qualify and wish to register your principal property for the homestead exemption, you may visit www.myflorida.com.