What is the history of the Homestead Exemption?
The Great Depression began in 1929. As the Depression deepened, many Florida property owners found themselves unable to pay their property taxes and in serious danger of losing their homes. In response in 1933, State Representative Dwight Rogers of Fort Lauderdale proposed and successfully passed legislation to place the $5,000 Homestead Exemption Amendment on the state ballot. Florida’s voters overwhelmingly approved the Homestead Exemption Amendment in 1934. The initial Homestead Exemption exempted the first $5,000 of value from ad valorem taxes. Over the years the exemption amount was increased to $25,000. In January 2008, voters adopted a constitutional amendment which increased the Homestead Exemption to $50,000, (the second $25,000 does not apply to all taxing authorities and only applies to the portion of assessed value between $50,000 – $75,000).
