For a married couple to qualify for a $75,000 homestead exemption, what must they do?

To qualify for a $75,000 homestead exemption, a married couple must reside together in the same property. The homestead exemption is designed to protect a portion of a homeowner's equity in their primary residence, providing them with financial security by preventing creditors from seizing that equity under certain circumstances.

Being married and living together as a couple is the key requirement, as the exemption recognizes the family unit that resides together in the home as a single entity, allowing them to benefit from the exemption as a unit. This serves to promote stability within the household and protect the family’s financial interests.

Other factors such as filing joint taxes or having a child together are not prerequisites for obtaining the homestead exemption. The primary focus is on the residency requirement, ensuring that the exemption is applicable to those who are living together in a single household.