Florida Homestead Exemption Guide
When you think of safeguarding your family's financial future, life insurance might come to mind. But did you know, in Florida, particularly in Pensacola, Escambia County, there's another layer of protection for homeowners? It's called the Florida Homestead Exemption. Here are some vital pointers to grasp: Protection from Forced Sale : Your primary residence can't be forcibly sold by a creditor, excluding mortgages, construction liens, or HOA liens. Tax Benefits : Receive up to $50,000 deduction on your home's assessed value, which reduces your taxable value. Restrictions on Transfers : Limits how you transfer your property and protects a surviving spouse and minor children. Locked-in Property Value : Under the "Save Our Homes" provision, annual assessment increases are limited, ensuring predictable property tax bills. Understanding Florida's Homestead Exemption Florida's Homestead Exemption ...