The two types of homestead exemption in Florida


One type of homestead exemption in Florida will lower your real estate taxes on your home. You only get one homestead exemption in Florida, even if you are a married couple. The other type of homestead exemption in Florida is given to us by our Florida Constitution which states that no creditor may take away or place a lien on your homestead. This includes doctors, hospitals credit cards, bankruptcy and nursing homes, but does not include IRS liens.


Mike: I have a condo, that's my primary residence, that I do take homestead on and my second residence, basically, is Monday through Thursday. I have 11 acres also in Florida that I go out to and I stay in my RV.

Attorney Tom Olsen: Good.

Mike: I was just wondering, I heard you say that possibly you could claim as a homestead on that. I was wondering, wow, maybe I can.

Attorney Tom Olsen: No, Mike, let's clarify there. First of all, there's two kinds of homestead exemption. One has to do with your real estate taxes, the other one has to do with our Florida Constitution that says, your home is exempted from creditor claims, doctors, hospitals, credit cards. As far as your real estate taxes are concerned, you are only entitled to one homestead exemption in the state of Florida, even if you're a married couple, you only get one.

You got one, Mike, you're not getting another one. Now, what we were told-,

Mike: Okay.

Attorney Tom Olsen: -when we talk about homestead for creditor claim, for protection of creditors and for the constitution, if you were living on your yacht, it doesn't affect your real estate taxes because there's no real estate taxes, but you could call that yacht your homestead for protection from creditor claims under the Florida Constitution or it could be an RV. Mike, does that clarify for you?

Mike: Yes sir, it does.

Attorney Tom Olsen: Okay.

Mike: Thank you so much for taking my call.

Attorney Tom Olsen: Thank you for calling.