The county takes $50,000 of the purchase price of the property and then levies a property tax on the remainder. However, you must become a Florida resident and make your Boca Raton home your primary residence. You do this by getting your drivers license and voter registration set up in Florida. Also you must live here for at least 6 months and one day.
You will not gain this exemption during your first year of residence. For example, if you purchase a home before December 31, you will pay taxes at the current homeowner's rate. However, if you register your homestead before March 31 of the current tax year, then you may be eligible for a homestead exemption at that time.
For a complete explanation and for the application form you will need in order to file, go to the Palm Beach property appraiser's link at: