St. Johns County homeowners who receive homestead exemption will see a change on their 2025 property record card. In the past, homestead exemption has totaled $50,000 for those entitled to the full homestead benefit. This year, the homestead exemption value is $50,722 for those same homeowners. This increase is due to Constitutional Amendment 5, now Florida Statute 196.031(1)(b), that was approved by voters in November.
Homestead exemption reduces the amount of property taxes paid by a Florida homeowner on their primary residence. Homestead exemption has totaled $50,000 for eligible homeowners with the first $25,000 applied to all property taxes, including school taxes, and the second $25,000 applied to the assessed value between $50,000 and $75,000, not including school taxes.
With Amendment 5, homestead exemption will still be applied in the same way, but the difference will be with the second $25,000 amount. Now, $25,000 will be the base with the total adjusted to account for annual inflation, which is determined by the Consumer Price Index (CPI). The CPI is reported by the U.S. Department of Labor, Bureau of Labor Statistics and measures inflation on consumer goods and services. The CPI will be reviewed yearly, and if the inflation adjustment is positive, then an increase will be made to the second $25,000. With this new calculation, this year’s homestead exemption increased by $722 to account for inflation.
Homeowners may be wondering if homestead exemption can decrease below $50,000 due to this new legislation, and the answer is no. That is because the amount will only change when the inflation adjustment is positive. Therefore, the minimum total for homestead exemption is $50,000 for homeowners entitled to the full homestead benefit.
Homestead exemption is important in reducing a homeowner’s property taxes. It not only reduces a property’s taxable value, but it also puts a 3% cap on the amount the home’s assessed value can increase annually. Also, homestead exemption is the gateway for other exemptions, meaning homeowners need to qualify for homestead exemption to be eligible for additional exemptions.
Homestead and other personal exemptions can be applied for through our website at www.sjcpa.gov/exemptions, which is a secure online portal that typically takes about 10 minutes to complete. Exemptions can also be applied for by visiting our office Monday through Friday from 8:30 a.m. to 5 p.m. at 4030 Lewis Speedway, Suite 203, in St. Augustine.
Our office is available to answer any questions or provide additional information at 904-827-5500 or customerservice@sjcpa.gov.