A Florida property tax benefit that reduces the taxable value of your primary residence by up to $50,000. The first $25,000 applies to all property taxes including school district. The second $25,000 applies to non-school taxes on assessed value between $50,000 and $75,000. You must file by March 1 to receive the exemption for that year.
Definition reviewed by Renzo Johnson, Licensed MLO, NMLS #PENDING. Last updated February 2026.