Florida Homestead Exemption

Owners of a single family residence in Florida can take advantage of an exemption of up to $50,0000 of the assessed value of a property if they claim the property as their primary residence and meet some additional qualification criteria. 

Click here to read an overview of the Homestead Exemption on the Sarasota County website; https://www.sc-pa.com/exemptions/homestead/overview/

There are some nuances and benefits to homesteading including a max increase allowed of only 3% of the assessed value in any year.    

And, contrary to a popular belief, there is no timeframe specified on how long an owner has to reside in a home on an annual basis to be able to claim the exemption.  

Once you purchase a home, it is important to register for your homestead exemption (if you intend to utilize it) because it is not automatically placed on a property.