Frequently Asked Question
Quick Answer
Florida's homestead exemption reduces the assessed value of a primary residence by $50,000 for property tax purposes and caps future annual assessment increases at 3% or the CPI rate, whichever is lower. To apply, you must have purchased and moved into the property by January 1 of the tax year in question, and you apply through the Escambia County Property Appraiser's office by March 1.
Florida's homestead exemption reduces the assessed value of a primary residence by $50,000 for property tax purposes and caps future annual assessment increases at 3% or the CPI rate, whichever is lower. To apply, you must have purchased and moved into the property by January 1 of the tax year in question, and you apply through the Escambia County Property Appraiser's office by March 1.
This answer is part of a longer article by Pam Heinold:
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