Florida Homestead Exemption and Save Our Homes, Explained
Florida's homestead exemption reduces the taxable value of your permanent home by up to $50,000, and it activates the Save Our Homes cap, which limits how much your home's assessed value can rise each year. To qualify, you must own the home and make it your permanent residence as of January 1, then apply with your county property appraiser, generally by March 1.
How the homestead exemption works
The exemption has two parts:
- The first $25,000 of assessed value is exempt from all property taxes, including school district taxes.
- A second exemption of up to $25,000 applies to assessed value between $50,000 and $75,000, and it applies to non-school taxes only. Florida voters approved a constitutional amendment in 2024 to adjust this portion for inflation annually, so check with your property appraiser for the current amount.
Example
Suppose a home's assessed value is $250,000 (ignoring any inflation adjustment):
| School taxes | Non-school taxes | |
|---|---|---|
| Assessed value | $250,000 | $250,000 |
| First $25,000 exemption | −$25,000 | −$25,000 |
| Additional exemption | Not applicable | −$25,000 |
| Taxable value | $225,000 | $200,000 |
Your tax bill equals taxable value multiplied by the millage rates set by each taxing authority. A mill is $1 of tax per $1,000 of taxable value.
Who qualifies?
- You must hold legal or beneficial title to the property (some trusts qualify).
- The home must be your permanent residence, or the permanent residence of someone legally or naturally dependent on you, as of January 1 of the tax year.
- You can't claim a residency-based exemption or tax credit on another property, in Florida or in another state.
- Non-U.S. citizens may qualify if they're permanent residents (green card holders); other immigration statuses have specific rules.
How to apply
- Apply with your county property appraiser. Most counties accept online applications.
- Meet the deadline: generally March 1 of the year you're applying for. Late filing may be possible in limited circumstances, but don't count on it.
- Gather documents. Counties commonly ask for a Florida driver's license or ID, Florida vehicle registration, voter registration, and Social Security numbers for owners and spouses. Non-citizens may need immigration documents.
- Renewal: In most counties the exemption renews automatically each year as long as you remain eligible. You must notify the property appraiser if your use of the property changes.
Save Our Homes: the assessment cap
Once your homestead exemption is in place, the Save Our Homes amendment limits annual increases in your home's assessed value to 3% or the change in the Consumer Price Index, whichever is lower. Market value can rise faster, but your assessed value is capped. Over time the difference between market value and assessed value, often called the "Save Our Homes benefit," can become large.
- The cap starts the year after you first receive the homestead exemption.
- When the home is sold, it's reassessed at market value on January 1 of the following year, so buyers shouldn't assume the seller's tax bill will be theirs.
- Major improvements, such as additions, can increase assessed value beyond the cap.
- Non-homestead properties have a separate 10% cap on annual assessment increases for non-school taxes.
Portability: taking your benefit with you
If you move from one Florida homestead to another, you can transfer, or "port," some or all of your Save Our Homes benefit to the new home, up to $500,000. You must establish the new homestead within three years of January 1 of the year you gave up the previous homestead, and you apply through the property appraiser (typically when you apply for the new homestead exemption). If you buy a less expensive home, the portable amount is reduced proportionally.
Other Florida property tax exemptions
Depending on your situation and county, you may qualify for additional exemptions, including:
- Widow or widower exemption
- Disability exemptions, including a total exemption for some totally and permanently disabled persons who meet the requirements
- Veterans: exemptions for veterans with service-connected disabilities, including a full exemption for veterans with a 100% permanent and total service-connected disability, plus discounts for certain disabled veterans age 65 and older
- Senior exemptions: optional local exemptions for low-income seniors 65 and older, which vary by city and county
- First responders totally and permanently disabled in the line of duty
Ask your property appraiser which exemptions exist in your county and what proof is required.
How you can lose the homestead exemption
- Moving out and no longer using the home as your permanent residence
- Claiming a residency-based exemption elsewhere
- Renting out the home, with limited exceptions; Florida law treats renting a homestead as abandonment in many situations, so check the current rules before listing it
Improperly claiming a homestead exemption can result in back taxes, a penalty of 50% of the unpaid taxes and interest for up to 10 years. If your situation changes, tell your property appraiser.
Your TRIM notice and appeals
Each August, your county sends a Truth in Millage (TRIM) notice showing your proposed assessed value, exemptions and estimated taxes. Review it carefully. If you disagree with the value, contact the property appraiser first; you can also file a petition with the county Value Adjustment Board, generally within 25 days after the TRIM notice is mailed.
Frequently asked questions
When is the deadline to apply for the Florida homestead exemption?
Generally March 1 of the tax year. You must own and permanently live in the home as of January 1 of that year. Apply with your county property appraiser.
Does the homestead exemption transfer when I buy a new home?
The exemption itself doesn't transfer, but you can apply for a new one and port up to $500,000 of your Save Our Homes benefit to a new Florida homestead established within three years.