University of South Florida: Could a parent buying a Florida home qualify for a homestead exemption?
DIRECT ANSWER
Florida DOR says an owner who makes the property the permanent residence of the owner or dependent may be eligible for a homestead exemption that can reduce taxable value by as much as $50,000; eligibility is fact-specific.
Sources & verification
- floridarevenue.com Official Florida Department of Revenue
- floridarevenue.com Official Florida Department of Revenue
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