Florida Homestead Exemption | What Is The Homestead Exemption and How Do I Qualify?

understanding the florida homestead exemption

When new Boca Raton condo buyers begin their search, the first thing that often comes to mind is luxury. Yet, amidst all the natural incentives, like our majestic waterfrontage, among the preeminent reasons to choose South Florida are the tax incentives. Firstly, the lack of a state income tax is among the most discussed reasons to work, live, and own property in Florida. Secondly, is the ever-popular Florida Homestead Exemption, built to mitigate some of the highest expenses as homeowners: property taxes. Read along and learn more, as we keep you attuned to the latest and most significant property laws, taxes, and new developments that may benefit you!

florida homestead checklist

What Do I Need To Qualify?

To qualify for the Florida Homestead Exemption you must provide/meet the following requirements:

  • A Valid State ID
  • An FL Vehicle Registration Number
  • A Florida Voter's ID
  • Proof of Previous Residency Outside of Florida, and Termination of Residency (if applicable)
  • Immigration Documents (if not a U.S. Citizen)
  • Declaration of domicile and residency in South Florida
  • The name of your current employer
  • School addresses for any dependent children
  • A bank statement and mailing address for a checking account
  • A utility bill and proof of payment from the homestead address

homestead exemption property renewal paperwork

Do I Need To Renew Annually?

One upside of the Florida Homestead Exemption is the need (or lack thereof) to reapply each year. The state will renew your exemption automatically after January 1st. However, the inverse is also true - in that, it is your responsibility to contact the state should any changes in your life render you newly ineligible for the exemption. Some of the following are reasons to contact the state and change your status.

  • The home is no longer your primary residence or the residence of a claimed dependent.
  • The property has been rented for more than 30 days.
  • The home has changed ownership - whether by sale, divorce, marriage, death, or another reason.

It's as simple as that! If you qualify, what are you waiting for? 

Click the link for form DR-501

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