- Definition: Florida homestead property is a natural person’s primary residence in the state. It can be up to one-half acre in a municipality or 160 acres in an unincorporated county. All contiguous property is included, even if it has separate legal descriptions and tax numbers.
- Homestead Exemption: This property tax break is based on your home’s assessed value. It allows you to reduce the taxable value by up to $50,000 if you owned the property on January 1 of the tax year.
- Eligibility: You must own and reside in the property on January 1 of the calendar year when you apply.
- Application Process: Complete the required forms and file them with your county property appraiser. If denied, you can appeal to the county’s value adjustment board.
Remember, Florida homestead protection is crucial for property owners in the Sunshine State!