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The homestead exemption is a legal regime to protect the value of the homes of residents from property taxes, creditors, and circumstances that arise from the death of the homeowner's spouse, disability, or other situations.
The Florida Constitutional homestead exemption offers virtually absolute protection from forced sale to meet the demands of creditors, except under four special circumstances, and should not be confused with the Florida Ad Valorem tax reduction savings, which is a product of the Florida legislature.
This type of tax exemption shields homeowners from excessive amounts of property tax.
Homestead exemptions generally cannot be claimed on investment properties and second homes. When a homesteaded property changes ownership, the property tax often rises sharply and the property's sale price may become the basis for new exemptions and limits available to the new owner-occupant.
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Sales taxes are generally tabulated for you, but calculating property taxes is a bit more involved and varies depending on local tax laws, homestead exemptions, regulations and other property tax ...