Florida Homestead Exemption: Deadlines and Benefits for 2025

If you bought a home in the Florida Keys this year, now’s the time to get ready for one of the biggest homeowner perks the Florida Homestead Exemption. This benefit can save you thousands on your property taxes each year, but only if you file on time!

What Is the Homestead Exemption?

The Florida Homestead Exemption reduces the taxable value of your primary residence by up to $50,000, potentially lowering your annual property tax bill. It also caps how much your assessed value can increase each year (no more than 3%), offering long-term protection from rising taxes a huge advantage in our appreciating Keys market.

Key Filing Deadlines for 2025

• Filing period: January 1 – March 1, 2025

• Where to file: Monroe County Property Appraiser’s Office (mcpafl.org)

• Who qualifies: Florida residents who own and occupy their home as their primary residence as of January 1, 2025

If you miss the March 1 deadline, you’ll likely have to wait another year to receive the exemption so planning this November is key.

What You’ll Need

Gather your documents early so you’re ready to file right after the new year. You’ll typically need:

• Florida driver’s license or ID with your home address

• Vehicle registration (with the same address)

• Voter registration or Declaration of Domicile

• Property deed or closing statement

Why Prepping in November Matters

Taking a few minutes now to organize your paperwork can mean real savings later. Many homeowners wait until January, only to scramble or miss out entirely. By preparing early, you’ll be ready to file right away and lock in valuable tax savings for years to come.

If Key West (or anywhere in the Keys) is truly home, make it official with the Homestead Exemption. Mark your calendar for January 1, have your documents ready, and give yourself the gift of lower taxes in 2025!