Florida Homestead Exemption Guide

The Florida homestead exemption is one of the most valuable property-tax benefits available to eligible homeowners in the state.

When a person owns Florida real estate and uses it as a permanent residence—or as the permanent residence of a qualifying dependent—the property may receive a reduction in taxable value. Homestead status may also qualify the property for the Save Our Homes assessment limitation, which can restrict how quickly its assessed value increases from year to year.

However, buying and living in a Florida home does not automatically guarantee every homestead benefit.

The owner must meet eligibility requirements, establish permanent Florida residency, and apply through the property appraiser in the county where the home is located. Additional exemptions may also be available to qualifying seniors, veterans, surviving spouses, people with disabilities, active-duty military personnel, and first responders.

This guide explains how the Florida homestead exemption works, who may qualify, how to apply, and which common mistakes homeowners should avoid.

What Is the Florida Homestead Exemption?

The Florida homestead exemption is a property-tax benefit that reduces the assessed value used to calculate taxes on an eligible permanent residence.

Florida’s standard homestead benefit is commonly described as providing an exemption of up to $50,000 of assessed value. The first $25,000 applies to all property taxes, including school district taxes. The additional exemption applies to assessed value above $50,000 and generally applies only to non-school taxes. Florida law now provides for annual inflation adjustments to the additional exemption when the applicable Consumer Price Index change is positive.

The exemption does not reduce the home’s market price or mortgage balance.

Instead, it reduces the taxable value to which applicable millage rates are applied.

Homestead Exemption Example

Assume a home has:

• Just value: $300,000
• Assessed value: $280,000
• Applicable homestead exemptions: $50,000 for simplified illustration

The taxable value may be reduced to approximately:

$280,000 − $50,000 = $230,000

However, the full exemption does not apply identically to every taxing authority. The first portion applies to school and non-school taxes, while the additional portion generally does not apply to school district taxes. Current inflation adjustments may also affect the precise additional exemption amount.

For that reason, a homeowner should not simply multiply $50,000 by one tax rate and assume that figure represents the exact savings.

Who Qualifies for the Florida Homestead Exemption?

A property owner may generally qualify when the owner:

• Holds legal or equitable title to Florida real property
• Uses the property as a permanent residence
• Is a permanent Florida resident
• Establishes the property as the permanent residence by January 1 of the applicable tax year
• Files the required application with the county property appraiser
• Does not claim an incompatible residency-based exemption elsewhere

Property used as the permanent residence of the owner’s legal or natural dependent may also qualify in certain circumstances.

The county property appraiser—not a real estate broker, tax collector, or mortgage lender—determines whether a parcel qualifies for an exemption.

What Does Permanent Residence Mean?

Permanent residence generally means the place a person intends to make a permanent home.

It is more than simply owning a house or spending part of the year in Florida.

Property appraisers may consider evidence such as:

• Florida driver license or identification card
• Florida vehicle registration
• Florida voter registration
• Declaration of domicile
• Mailing address
• Employment location
• Address used for federal income-tax purposes
• Previous out-of-state residency
• Location of family
• Utility records
• Other evidence of intent

No single document necessarily decides every case. The property appraiser evaluates the complete circumstances and may request additional evidence.

Must You Be a United States Citizen?

United States citizenship is not necessarily the only basis for homestead eligibility.

The applicant must generally have legal or equitable title and establish qualifying permanent residence under Florida law. Immigration, residency, dependent, trust, and title arrangements can create complicated eligibility questions.

Applicants with unusual residency or ownership circumstances should contact the county property appraiser and obtain legal advice when necessary.

Do You Have to Own the Home on January 1?

January 1 is the important assessment date for Florida property taxes and homestead eligibility.

To receive the exemption for a particular tax year, the applicant generally must own the home and make it a permanent residence as of January 1 of that year. The Florida Department of Revenue’s current homestead application states that permanent Florida residency is required on January 1.

For example:

• A buyer closes and moves into a home on December 15, 2026. The buyer may qualify for the 2027 exemption if all requirements are satisfied on January 1, 2027.
• A buyer closes on January 10, 2027. The buyer generally would not qualify for the exemption for the 2027 tax year because the buyer did not own and occupy the property on January 1.

The later buyer may generally apply for the following tax year.

When Is the Application Deadline?

Homestead exemption applications are generally due to the county property appraiser by March 1 for the applicable tax year.

Portability applications are also generally due by March 1 of the first year for which the owner seeks homestead on the new property.

Some property appraisers accept applications before January 1 or offer pre-filing for the upcoming year.

A homeowner should not assume that the exemption was automatically transferred by the title company or closing agent.

Where Do You Apply?

Apply with the property appraiser in the county where the property is located.

Many counties allow homeowners to apply:

• Online
• In person
• By mail
• Through an approved electronic process

Florida’s Department of Revenue oversees the statewide property-tax system, but exemptions are administered locally. Applications and supporting documentation should be submitted to the county property appraiser.

What Form Is Used?

The standard statewide application is Form DR-501, Original Application for Homestead and Related Tax Exemptions.

Counties may provide an online version that collects the same required information.

Applicants seeking portability generally submit Form DR-501T, Transfer of Homestead Assessment Difference, along with the application for the new homestead.

What Documents May Be Required?

A property appraiser may request information such as:

• Social Security numbers
• Driver license or Florida identification numbers
• Vehicle registration
• Voter registration
• Declaration of domicile
• Immigration documentation where applicable
• Trust documents
• Recorded deed information
• Prior homestead address
• Date previous residency ended
• Employer information
• Spouse information
• Dependent information

The exact documentation varies according to the applicant’s circumstances and county procedures.

Applicants should answer all questions accurately and submit additional documents promptly.

Is the Exemption Automatically Renewed?

After approval, most homeowners do not have to submit a completely new homestead application every year.

The property appraiser may renew the exemption automatically as long as the owner continues to qualify.

However, the owner must notify the property appraiser when eligibility ends or circumstances materially change.

Examples include:

• The home is no longer the permanent residence.
• The property is rented in a manner that affects eligibility.
• Ownership changes.
• The owner establishes a new permanent residence.
• The owner claims an incompatible exemption elsewhere.
• A spouse’s residency or ownership situation changes.
• The property is sold.

Florida law requires property owners who are no longer entitled to an exemption to notify the property appraiser.

What Is Save Our Homes?

The Save Our Homes assessment limitation is separate from the basic dollar exemption.

Once property receives a qualifying homestead exemption, annual increases in its assessed value are generally limited to the lower of:

• 3% of the previous year’s assessed value, or
• The percentage change in the applicable Consumer Price Index

The assessed value cannot exceed the property’s just value.

Save Our Homes does not directly cap:

• The property’s market value
• Millage rates
• Special assessments
• Taxes caused by additions or improvements
• The reassessment triggered by a change of ownership

It limits annual assessed-value growth for qualifying homestead property.

Just Value, Assessed Value, and Taxable Value

These terms are commonly confused.

Just Value

Just value is generally the property appraiser’s estimate of market value.

Assessed Value

Assessed value is the value after applying an assessment limitation such as Save Our Homes.

Taxable Value

Taxable value is the assessed value after subtracting applicable exemptions.

A simplified formula is:

Just value → assessment limitations → assessed value → exemptions → taxable value

The property-tax rate is then applied to taxable value, subject to differences among taxing authorities.

Save Our Homes Example

Suppose a homestead property has:

• Previous assessed value: $250,000
• New just value: $290,000
• Applicable CPI change: 2.5%

The Save Our Homes increase would generally be limited to the lower of:

• 3%, or
• 2.5%

The maximum assessed-value increase would therefore be approximately:

$250,000 × 2.5% = $6,250

New assessed value:

$250,000 + $6,250 = $256,250

The property’s just value may be $290,000, but the assessed value could remain lower because of the Save Our Homes limitation.

What Is the Save Our Homes Assessment Difference?

The assessment difference is the difference between the property’s just value and its assessed value.

Example:

• Just value: $400,000
• Assessed value: $275,000

Assessment difference:

$400,000 − $275,000 = $125,000

This difference may become valuable when the owner purchases another Florida homestead because some or all of it may qualify for portability.

What Is Homestead Portability?

Portability allows an eligible Florida homeowner to transfer some or all of the Save Our Homes assessment difference from a previous Florida homestead to a new Florida homestead.

The homestead exemption itself is not transferred. The homeowner applies for a new exemption on the new property and separately requests transfer of the assessment benefit.

The transferred benefit can reduce the new home’s assessed value and therefore reduce property taxes.

The maximum transferable assessment difference is generally limited to $500,000, subject to the statutory calculation and the relative values of the old and new homesteads.

Portability Deadline

To transfer the Save Our Homes benefit, the homeowner generally must establish a new Florida homestead within the statutory period.

Current Florida guidance explains that the new homestead must be established within three years of January 1 of the year the previous homestead was abandoned. This is not necessarily the same as three years from the closing date.

The homeowner must generally file:

• Form DR-501 for the new homestead
• Form DR-501T for the transfer

These forms are generally due by March 1 of the first year the homeowner seeks the new homestead exemption.

Portability When Buying a More Expensive Home

When the new home’s just value is equal to or greater than the old home’s just value, the owner may generally transfer the qualifying assessment difference, up to the statutory maximum.

Example:

Old Homestead

• Just value: $400,000
• Assessed value: $250,000
• Assessment difference: $150,000

New Homestead

• Just value: $600,000

Potential assessed value after portability:

$600,000 − $150,000 = $450,000

Additional statutory calculations and limitations may apply, but this demonstrates the basic concept.

Portability When Downsizing

When the new home has a lower just value than the previous homestead, the transferred benefit is generally calculated proportionally rather than as a simple dollar-for-dollar subtraction.

Florida law uses a ratio involving the new home’s just value, the old home’s just value, and the old home’s assessed value.

Students should remember:

• Upsizing may allow transfer of the qualifying assessment difference.
• Downsizing generally requires a proportional calculation.

Does Homestead Transfer Automatically at Closing?

No.

When a homeowner sells one homestead and purchases another, neither the exemption nor the portability benefit automatically appears on the new property.

The owner must:

1. Apply for homestead on the new property.
2. Request portability.
3. Identify the previous homestead.
4. Meet the filing deadline.
5. Provide requested documents.

A title company or real estate agent may remind the buyer, but the homeowner remains responsible for applying.

What Happens After a Home Is Sold?

The buyer does not inherit the seller’s homestead exemption or Save Our Homes assessed value.

After a qualifying change of ownership, the property may be reassessed at just value as of the following January 1, sometimes producing a substantial tax increase.

This reset is commonly called a reassessment or, informally, a “tax reset.”

A buyer should not estimate future taxes using only the seller’s current tax bill.

The seller’s bill may reflect:

• Years of Save Our Homes protection
• Personal exemptions
• Senior benefits
• Veteran benefits
• Disability benefits
• Portability from an earlier property

The buyer’s future taxable value may be significantly higher.

Why Buyers Should Not Rely on the Seller’s Tax Bill

Consider:

• Seller’s assessed value: $225,000
• Current market value and purchase price: $500,000
• Seller’s exemptions: $50,000 or more
• Seller’s taxable value: substantially below market value

After the sale, the new owner may face an assessed value much closer to current just value before the new owner’s exemption and portability are applied.

Therefore, the buyer’s tax bill could be substantially higher even if the millage rate remains unchanged.

Real estate professionals should avoid promising an exact future tax amount. Buyers can be directed to the county property appraiser’s estimator or other official resources.

Can Rental Property Receive a Homestead Exemption?

Ordinary investment or rental property generally does not qualify because it is not the owner’s permanent residence.

Renting a homestead property can also affect eligibility.

Florida’s exemption-removal form identifies renting the residential unit and ceasing to use it as a permanent home as circumstances that may end eligibility.

The effect may depend on:

• Whether the entire property is rented
• Duration of the rental
• Whether the owner continues to reside there
• The tax year involved
• County interpretation
• Applicable statutory exceptions

A homeowner considering renting homestead property should speak with the county property appraiser before making assumptions.

Can a Vacation Home Qualify?

A second home or seasonal vacation property does not ordinarily qualify when it is not the owner’s permanent residence.

A person may own several properties, but can generally establish only one permanent homestead residence for Florida property-tax purposes.

Claiming a residency-based tax benefit in another state may also disqualify a person from Florida homestead when that other benefit requires permanent residency.

Can Married Couples Claim Two Homestead Exemptions?

Married couples are generally treated as one family unit for homestead purposes when they maintain one household.

Complicated situations can arise when spouses live separately, own different properties, are separated, or maintain genuinely independent permanent residences.

Florida guidance states that if one spouse continues to maintain a shared marital property as a permanent residence, the exemption may continue. However, another Florida exemption may not be available to the other spouse while that spouse owns or co-owns the original homestead, subject to exceptions.

Because the outcome is fact-specific, spouses seeking exemptions on separate properties should obtain guidance from both property appraisers and, where appropriate, a Florida attorney.

Homestead and Trust Ownership

Property held in a trust may qualify when the applicant holds a legally sufficient beneficial or equitable interest and uses the property as a permanent residence.

Not every trust or ownership arrangement automatically qualifies.

The property appraiser may request:

• Trust agreement
• Relevant trust provisions
• Recorded deed
• Evidence of the applicant’s right to possess the property
• Residency documentation

Buyers placing homes into revocable trusts should confirm how title and beneficial interests affect the exemption.

Homestead and Life Estates

A person holding a life estate may have sufficient legal or beneficial title to apply for homestead when the home is the person’s permanent residence.

A person merely named as a future remainderman generally does not have present possession and may not qualify based only on the future interest.

Enhanced life estate deeds and other estate-planning arrangements can create more complicated results.

Homeowners should consult the property appraiser and an attorney before changing title to a homestead.

Additional Senior Exemptions

Florida law permits counties and municipalities to adopt additional homestead exemptions for qualifying people age 65 or older with limited household income.

These exemptions are local options and are not available identically in every county or city.

Possible benefits include:

• An additional exemption of up to the locally authorized amount
• A potentially larger exemption for qualifying long-term residents whose homes meet statutory value requirements

Current Florida guidance describes two possible local senior benefits:

• An additional exemption not exceeding $50,000 for qualifying owners age 65 or older who meet the household-income limit
• An exemption equal to the assessed value for certain qualifying owners age 65 or older who have maintained permanent residence for at least 25 years, meet the income requirement, and own a home whose just value falls below the statutory limit established when eligibility begins

Because these exemptions depend on local ordinances and annual income limits, applicants should check directly with the county property appraiser.

Exemptions for Veterans

Florida provides several possible property-tax benefits for veterans and surviving spouses.

Benefits may include:

• A disability exemption
• A discount based on combat-related disability
• A total exemption for qualifying veterans with service-connected total and permanent disability
• Benefits for certain surviving spouses
• Benefits for deployed active-duty service members

A qualifying honorably discharged veteran with a service-connected total and permanent disability may be eligible for complete exemption from ad valorem taxation on homestead property.

Eligibility and documentation depend on the specific benefit. Applicants may need certification from the U.S. Department of Veterans Affairs or another authorized agency.

Exemptions for Surviving Spouses

Certain surviving spouses may qualify for continued or additional homestead benefits.

Potential categories include surviving spouses of:

• Veterans who died from service-connected causes
• Totally and permanently disabled veterans
• First responders who died in the line of duty
• Military members who died while performing official duties

The surviving spouse may need to:

• Own and occupy the property
• Remain unmarried
• Maintain Florida residency
• Provide official death or disability documentation
• Meet transfer requirements when moving

The precise rules differ by exemption.

Disability Exemptions

Florida offers additional exemptions for certain people who are:

• Blind
• Totally and permanently disabled
• Quadriplegic
• Hemiplegic
• Paraplegic
• Required to use a wheelchair for mobility

Some disability benefits are limited exemptions, while others may provide total exemption when income and medical-certification requirements are satisfied.

Florida’s homestead application identifies separate benefits for blindness, total and permanent disability, quadriplegia, and other qualifying disabilities.

Applicants should use current forms and obtain certification from authorized medical or governmental sources.

Active-Duty Military Benefits

Florida may provide additional property-tax relief to qualifying active-duty military members deployed outside the continental United States, Alaska, or Hawaii in support of designated military operations.

The benefit may be calculated based on the portion of the prior year during which the service member was deployed.

Applicants should contact the county property appraiser for current operations, documentation, and filing requirements.

Widowed Persons Exemption

A qualifying widowed Florida resident may be eligible for an additional exemption.

The applicant may need to provide:

• Death certificate
• Proof of Florida residency
• Confirmation that the applicant has not remarried
• Other documents requested by the property appraiser

This benefit is separate from the ordinary homestead exemption and from special surviving-spouse benefits involving veterans or first responders.

Homestead Exemption and Creditor Protection

Florida homestead is also associated with creditor protection, but the property-tax exemption and constitutional creditor protection are related yet legally distinct concepts.

A homeowner may potentially qualify for one form of homestead protection while a dispute exists regarding another.

Florida’s constitutional homestead protection may shield a qualifying primary residence from many creditor claims, subject to important exceptions such as:

• Property taxes and assessments
• Mortgages
• Construction or repair obligations
• Certain other constitutionally recognized claims

Creditor-protection questions can become complex, particularly when they involve acreage limits, business activity, fraud, bankruptcy, or ownership entities.

Real estate licensees should not provide legal conclusions about whether a home is protected from a particular creditor.

Homestead Exemption vs. Homestead Creditor Protection

Students and homeowners should distinguish these concepts.

Property-Tax Homestead Exemption

Reduces taxable value and may activate Save Our Homes.

Save Our Homes

Limits annual increases in assessed value for qualifying homestead property.

Portability

Transfers some or all of the Save Our Homes assessment benefit to a new Florida homestead.

Creditor Protection

May protect qualifying homestead property from certain forced-sale claims.

Devise and Spousal Restrictions

May limit how homestead property is transferred at death or conveyed during marriage.

The word “homestead” appears in several different areas of Florida law. One benefit should not be confused with another.

What Happens if Someone Improperly Claims Homestead?

Improperly receiving a homestead exemption can result in serious consequences.

The property appraiser may:

• Remove the exemption
• Recalculate taxes
• Impose back taxes
• Add penalties
• Add interest
• Record a tax lien

Florida’s application materials warn that a property appraiser may place a tax lien on property when an owner received an exemption during prior years without being entitled to it.

Possible problem situations include:

• Claiming two residency-based exemptions
• Continuing to claim homestead after moving
• Renting the property while representing it as a permanent residence
• Failing to report an ownership change
• Providing false residency information
• Claiming benefits in Florida and another state
• Applying on a vacation or investment property

Applicants should correct mistakes promptly rather than waiting for an investigation.

Common Homestead Exemption Mistakes

Assuming the Exemption Is Automatic

The owner must generally apply.

Missing the March 1 Deadline

Late filing may require a separate late-application process and may not always be approved.

Confusing the Tax Collector and Property Appraiser

The property appraiser approves exemptions and values property.

The tax collector sends and collects the tax bill.

Applying Before Establishing Eligibility

Ownership and permanent residence generally must exist on January 1 of the applicable year.

Claiming Multiple Permanent Residences

A person cannot ordinarily claim incompatible residency-based property-tax benefits in multiple locations.

Forgetting to Apply for Portability

The Save Our Homes benefit does not automatically move.

Believing the Seller’s Taxes Will Continue

A sale may trigger reassessment.

Failing to Report a Move

The former exemption may need to be removed.

Assuming Every Senior Receives an Extra Exemption

Senior exemptions depend on age, income, local ordinances, and sometimes length of residency.

Confusing the Exemption With Save Our Homes

The exemption reduces taxable value. Save Our Homes restricts assessed-value growth.

How to Apply: Step-by-Step

Step 1: Confirm January 1 Eligibility

Make sure you owned and occupied the property as your permanent residence by January 1.

Step 2: Locate the County Property Appraiser

Use the official property appraiser for the county in which the home is located.

Step 3: Gather Documents

Prepare identification, residency records, ownership information, and spouse or dependent documentation.

Step 4: Complete Form DR-501 or the County Equivalent

Answer all questions truthfully.

Step 5: Apply for Additional Benefits

Indicate whether you may qualify as a:

• Senior
• Veteran
• Surviving spouse
• Disabled person
• Active-duty service member
• First responder

Step 6: Apply for Portability

When moving from another Florida homestead, complete Form DR-501T and identify the former property.

Step 7: Submit by the Deadline

File by March 1 unless the county has provided an earlier pre-filing option.

Step 8: Respond to Requests

Provide additional records if the property appraiser asks for clarification.

Step 9: Review the Notice of Proposed Property Taxes

Check that the exemption, assessed value, and portability benefit appear correctly.

Step 10: Report Future Changes

Notify the property appraiser if the property stops qualifying.

Can a Late Homestead Application Be Filed?

Florida law may permit late filing under limited procedures.

A person who misses the normal deadline should contact the property appraiser immediately. The county may require the applicant to demonstrate eligibility and submit the late application before the statutory late-filing deadline.

A denial may be appealable to the county value adjustment board within the applicable period.

Do not assume a late exemption will automatically be granted.

What Is a Value Adjustment Board?

The value adjustment board, commonly called the VAB, hears certain disputes involving:

• Property values
• Exemption denials
• Classification denials
• Assessment limitations
• Portability determinations

A property owner who disagrees with the property appraiser may have the right to file a petition within a specific deadline.

The owner may also have court remedies.

Because appeal deadlines can be short, homeowners should act promptly after receiving a denial or tax notice.

How Does Homestead Affect a Real Estate Transaction?

Homestead issues may affect:

• Estimated future property taxes
• Seller disclosures
• Buyer budgets
• Spousal signatures
• Title
• Estate planning
• Trust ownership
• Portability
• Closing timing
• Occupancy planning

A real estate licensee may explain general concepts but should not guarantee eligibility or calculate a legally binding future tax bill.

The property appraiser makes the exemption determination.

Questions Buyers Should Ask

A Florida buyer may wish to ask:

• What is the current just value?
• What is the current assessed value?
• What exemptions does the seller receive?
• Will the property be reassessed after closing?
• Am I eligible for portability?
• What deadline applies?
• Does the county offer additional senior benefits?
• Are special assessments included in the tax estimate?
• Does the current bill include veteran or disability exemptions?
• Which county office processes the application?

These questions can prevent unpleasant surprises after closing.

Questions Sellers Should Consider

A seller may need to consider:

• When will I abandon my current homestead?
• Will I purchase another Florida home?
• How long do I have to use portability?
• What was my prior assessment difference?
• Will my spouse remain in the current property?
• Do I need to notify the property appraiser?
• Will renting the home affect the exemption?
• Will a transfer to a trust or family member affect eligibility?

The answers can influence tax planning and closing decisions.

Florida Homestead Quick Reference

Frequently Asked Questions

How much is the Florida homestead exemption?

It is commonly described as reducing assessed value by up to $50,000. The first $25,000 applies to all property taxes, while the additional portion generally applies only to non-school taxes. The additional exemption is subject to current inflation-adjustment provisions.

Do I have to apply every year?

Most approved exemptions renew automatically, but you must continue to qualify and notify the property appraiser when your eligibility changes.

Can I apply immediately after buying a house?

You may be able to pre-file, but eligibility for a tax year is generally based on ownership and permanent residence as of January 1.

Does homestead eliminate property taxes?

No. It lowers taxable value and may provide other benefits, but most homeowners will still owe property taxes.

Does the exemption transfer when I move?

The exemption itself does not transfer. You must apply for the new home. However, you may qualify to transfer the Save Our Homes assessment difference through portability.

How long do I have to use portability?

Current guidance generally requires establishing the new homestead within three years of January 1 of the year the old homestead was abandoned.

Can I homestead a rental property?

Ordinary rental or investment property generally does not qualify. Renting a previously homesteaded residence may affect continuing eligibility.

Can I claim homestead on two Florida homes?

A person generally cannot maintain two permanent homestead residences. Married-couple situations involving separate households can require a fact-specific determination.

Will my taxes be the same as the seller’s?

Not necessarily. The property may be reassessed after the transfer, and the seller may have exemptions or Save Our Homes protection that will not carry over to you.

Who determines whether I qualify?

The county property appraiser determines exemption eligibility.

Homestead Application Checklist

Before applying, make sure you have:

• Owned the home by January 1
• Established it as your permanent residence
• Updated your Florida driver license or identification
• Updated vehicle registration where applicable
• Updated voter registration where applicable
• Ended incompatible residency claims elsewhere
• Located the county property appraiser
• Collected deed or trust information
• Collected spouse and dependent information
• Completed Form DR-501
• Completed Form DR-501T if requesting portability
• Reviewed additional veteran, senior, disability, or surviving-spouse exemptions
• Submitted everything by March 1
• Saved confirmation of filing
• Reviewed the property appraiser’s decision

Final Thoughts

Florida’s homestead exemption provides more than a simple reduction in taxable value.

It may also qualify the home for the Save Our Homes assessment limitation, which generally restricts annual assessed-value increases to the lower of 3% or the applicable Consumer Price Index change. Eligible homeowners who move within Florida may also transfer part or all of their Save Our Homes assessment difference through portability.

The most important rules to remember are:

• The property must generally be the owner’s permanent residence.
• Ownership and residency usually must exist on January 1.
• The application is generally due by March 1.
• Applications are filed with the county property appraiser.
• The exemption does not automatically transfer to a new home.
• Portability requires a separate application.
• The buyer does not inherit the seller’s assessed value or tax bill.
• Save Our Homes limits assessed-value growth, not necessarily the final tax amount.
• Additional benefits may be available to seniors, veterans, surviving spouses, disabled persons, military members, and first responders.
• Homeowners must report when they no longer qualify.

Homestead law also affects creditor rights, spousal interests, inheritance, trusts, and estate planning. Those issues are different from the basic property-tax exemption and may require legal advice.

Because exemption amounts, income limitations, forms, and local benefits may change, homeowners should confirm current information with the Florida Department of Revenue and the property appraiser in the county where the home is located.