Step 7. Compare the answer from Step 6 with the answer from Step 2 to determine the amount of homestead exemption.

The answer from Step 6 can be equal to or less than the maximum exemption amount established in Step 2. If the answer is greater than the amount in Step 2, you must "cap" the exemption at the amount determined in Step 2.

Legislative References

Article VII, Section 6, Florida Constitution:

(b)...No exemption shall exceed the value of real estate assessable to the owner...

Practice

• M.
  Step 6 = $20,000
  Step 2 = $25,000
  Exemption = $                    

• N.
  Step 6 = $60,000
  Step 2 = $25,000
  Exemption = $                    

What To Do

Use the worksheet or review the problems in the answer sheet before you go to the worksheet.