Homestead Filing Can Reduce Property Taxes

Filing for Florida’s homestead exemption can reduce a homeowner’s property tax bill and make future tax increases more predictable. In addition to estimated annual savings of $400–$600, homesteaded properties benefit from a cap that limits how quickly the assessed value can rise from year to year—generally 3% or inflation (CPI), whichever is lower—which helps stabilize property taxes over time. To qualify, the owner typically must own and occupy the home as a permanent residence as of January 1, 2026, and the exemption applies only to a primary residence. New homeowners should note that the exemption usually does not transfer automatically after a purchase, and the assessed value can reset after a change in ownership, so applying by the deadline matters. For more information, click here.