Florida homeowners who own real estate that is their primary residence or who have a dependent who resides in such property can qualify for a homestead exemption. This exemption has important tax and creditor implications.

Tax Implications

In Florida, homeowners who qualify for a homestead exemption can receive an exemption off of the amount of property taxes that would be due, up to $50,000. The first half of the exemption applies to all property taxes, including taxes for school districts. The remaining $25,000 exemption applies to the assessed value of the home between $50,000 and $75,000. The second half of the exemption applies only to those taxes that are non-school district taxes. In order to receive this exemption, you must file the necessary paperwork with the county tax assessor.

Creditor Implications

Having a property considered a homestead in Florida carries important implications for creditors. Florida does not permit most creditors to levy or execute property that is considered the debtor’s homestead. According to Florida law, the homestead is the debtor’s principal place of residence and includes up to one half of an acre within a municipality or 160 acres outside a municipality. Even if a creditor has sued a debtor, won the case and seeks to satisfy the judgment, the property cannot be attached in this manner.

There are certain exceptions to this rule. The property can still have a lien on it because of back taxes or from a contractor who has made improvements to the property. Additionally, banks and other lenders who have provided a mortgage on the property can still have a lien on the property and execute its sale. The exemption only applies to property that was purchased by a natural person or trust and does not apply to purchases made by corporations, LLCs or similar entities.

If you are interested in buying or selling property, call Isabelle Andrews at 305-546-5421, Alba Biondi at 305-323-2595, or email us at

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