Homestead Exemption Rules and Regulations Florida
Firstly, what is the homestead exemption? It is an exemption amount from what the value of your home is valued by the county the home is located in. It can be up to $50,000 and it is limited to people who make Florida their domicile, or home state.
The reason why this is important is because the property tax that the current owner is paying, will not necessarily be the property tax that you will be required to pay when you purchase the home.
This is why it is important to work with a real estate agent you can trust as well as bank that will give you the information you need before you purchase your new home.
