What the homestead exemption does
If you own a Florida home and it's your permanent residence, you can claim the homestead exemption. Under current law, the first $25,000 of assessed value is exempt from all property taxes, and an additional amount, adjusted for inflation, is exempt from non school taxes. For the 2026 tax year, the total can reach about $51,411.
The Save Our Homes cap
Homestead also limits how much your assessed value can rise each year: 3% or the rate of inflation, whichever is lower. Over time, that cap can save long time owners a lot, even as market values climb.
Why your tax bill may be higher than the seller's
This catches many buyers. The seller's tax bill reflects their exemptions and years of capped assessments. When you buy, the home is reassessed closer to market value the following year, and the seller's exemptions go away. Budget for your own estimated taxes, not the seller's current bill. Most county property appraisers offer an estimator.
How and when to file
You must own the home and live in it as your permanent residence on January 1. Apply with your county property appraiser, usually by March 1, often online. You'll typically need your deed or closing documents, a Florida driver license with the new address, vehicle registration and voter registration if applicable. If you close in, say, October, you'd apply by March 1 of the next year.
Moving from another Florida homestead
Florida's portability rules let you transfer some or all of your Save Our Homes benefit from a previous Florida homestead to a new one, up to $500,000, if you establish the new homestead within the allowed time. File the portability application with your new homestead application.
Other exemptions that stack
Veterans with service connected disabilities, seniors with limited income in participating counties, widows and widowers, and people with disabilities may qualify for additional exemptions. Veterans, see Florida tax benefits for veterans.
On the ballot: Amendment 3, November 3, 2026
Florida voters will decide a proposed constitutional amendment that would expand the homestead exemption for non school taxes. As proposed, it would raise the exemption to $150,000 in 2027 and $250,000 in 2028, then index it to inflation. It would also lower the assessment cap on non homestead property and limit how local governments can use property tax revenue. It needs 60% voter approval.
The proposal treats people differently based on when they become Florida residents. As described by county property appraisers, permanent residents as of December 31, 2026 would be eligible for the larger exemption, while those who become residents later would follow a different structure. If it passes, it would first show up on tax bills in November 2027. This page will be updated after the vote. Supporters and opponents disagree about its effects on homeowners and local services, so read the official ballot summary and your county property appraiser's explanation.
How this affects your mortgage
Property taxes are part of your monthly payment. Lower taxes mean a lower payment and more buying power. When I estimate your payment, I use your expected taxes after purchase, not the seller's bill.
Frequently asked questions
When is the Florida homestead deadline?
Usually March 1 for the tax year. You must own and live in the home on January 1.
Why are my taxes higher than the previous owner's?
The home is reassessed after a sale, and the seller's exemptions and capped value don't transfer to you.
Can I transfer my homestead benefit to a new Florida home?
Yes, through portability, up to $500,000 of the Save Our Homes benefit, if you meet the timing rules.
What is Amendment 3?
A proposed constitutional amendment on the November 3, 2026 ballot that would expand the homestead exemption for non school taxes. It needs 60% approval.