Beginning on January 1, 2008, and each tax year thereafter, the amount of homestead
exemption authorized by this article shall be fifty thousand dollars ($50,000.00).
A person eligible for the homestead exemption authorized by this article shall be
entitled to the full amount of the exemption authorized by this article, which when
added to any other exemption from ad valorem assessment granted to a particular property
that results in an exemption exceeding the ad valorem assessment of the property,
then the homestead exemption authorized by this article shall only be available to
the extent that it is equal to the difference between the ad valorem assessment of
the property and any other exemption from ad valorem assessment granted to the property.
Persons receiving such additional homestead tax exemption shall be subject to the
provisions of Sections 196.131 and 196.161, Florida Statutes, as amended, if applicable,
pertaining to wrongful receipt of a homestead exemption.
