Florida Law provides for certain exemptions to the fully appraised value of real property. The most commonly known is the Homestead Exemption, which deducts up to $50,000 from the appraised value of real property. This lowers the basis upon which tax is calculated by the Tax Collector. Other exemptions include religious, veteran, widow, disability, charitable and a few others. All requests for exemptions must be filed no later than March 1 the year for which the exemption is requested.