Florida gives owner-occupants three linked benefits: the homestead exemption, which removes value from the tax roll; the Save Our Homes assessment limitation, which slows growth in assessed value; and portability, which lets a mover carry some of that accumulated benefit to the next Florida home. All three are claimed through the county property appraiser, depend on facts as of January 1, and can be lost for a year by missing March 1.

The short answer

  • The 2026 exemption is worth up to $51,411. The first $25,000 comes off all property taxes, including school taxes. The rest applies only to non-school taxes.
  • You must own and live in the home on January 1. File Form DR-501 with your county property appraiser by March 1.
  • Save Our Homes limits yearly growth in assessed value. The cap is 3% or the change in the Consumer Price Index, whichever is lower. For 2026 it is 2.7%.
  • The benefit does not pass to a buyer. The home is reassessed at market value the January 1 after a sale.
  • Portability lets you move up to $500,000 of benefit. You qualify if you had a homestead exemption as of January 1 of any of the 3 years before you set up the new homestead. File Form DR-501T.
  • Amendment 3 is on the November 3, 2026 ballot. It would raise the non-school exemption to $150,000 in 2027 and $250,000 in 2028. It needs 60% of the vote.

Who qualifies: the January 1 test

Under section 196.031, Florida Statutes, the exemption goes to a person who, on January 1, holds legal or beneficial title to Florida real property and in good faith makes it his or her permanent residence, or the permanent residence of a legal or natural dependent. The deed must be recorded before the exemption is granted. Someone receiving a residency-based property tax exemption or credit in another state is not eligible.

If you close on January 15, you did not own the home on January 1, so your first possible homestead year is the next one. The Department of Revenue’s homestead exemption brochure (PT-113) (opens in a new tab) lists the questions you will be asked and the residency evidence a property appraiser may request, including a Florida driver license or ID, Florida vehicle registration, voter registration, a recorded declaration of domicile, the address on your last federal return, and utility bills at the property. The brochure also states that renting the residential unit, or ceasing to use it as your permanent home, ends eligibility.

How much the exemption removes

The exemption has two layers. The first $25,000 of assessed value is exempt from all property taxes, including school taxes. A second exemption of up to $25,000 applies to assessed value above $50,000 and only to non-school levies; value between $25,000 and $50,000 stays fully taxable. Since 2025 the second layer has been adjusted each January 1 for positive inflation. The Manatee County Property Appraiser’s Amendment 3 FAQ (opens in a new tab) puts the combined exemption at up to $51,411 for tax year 2026: $25,000 for all taxes plus $26,411 for non-school taxes, as certified by the Department of Revenue. The adjustment does not apply to the first $25,000 or to school levies.

Applying with Form DR-501 by March 1

The application is Form DR-501, Original Application for Homestead and Related Tax Exemptions, available from the Department of Revenue’s property tax forms page and from county property appraisers, many of which accept it online. Section 196.011 (opens in a new tab) requires the application by March 1. Under the statute, failing to apply on time waives the exemption for that year unless a late-filing exception applies.

  1. Record the deed and confirm the names on title as of January 1.
  2. Collect residency documents for every owner who lives in the home, plus Social Security numbers for the applicant and spouse; without them the application is incomplete.
  3. If you are moving from another Florida homestead, attach Form DR-501T (see the portability section below).
  4. Submit to the property appraiser in the county where the home sits, and keep the confirmation or a date-stamped copy.
  5. Confirm the exemption on the August Notice of Proposed Property Taxes (TRIM notice).

Missed March 1? Section 196.011 allows a late application up to the 25th day after the property appraiser mails the TRIM notices. The appraiser may grant it if you show you were unable to apply on time or other extenuating circumstances. If the appraiser declines, you can petition the value adjustment board (VAB) within the same window, paying a nonrefundable $15 fee.

Save Our Homes: how the assessment cap works

In the first year a home receives the exemption, it is assessed at just (market) value. Starting the next January 1, section 193.155 (opens in a new tab) limits any annual increase in assessed value to the lower of 3% or the prior calendar year’s change in the Consumer Price Index. The assessed value can never exceed just value. The gap that builds up between just value and capped assessed value is the Save Our Homes benefit.

The cap applies even when market value falls. The DOR’s Save Our Homes and portability brochure (PT-112) (opens in a new tab) notes that assessed value can still rise by the limited amount after a market dip, up to just value. The department’s table of annual Save Our Homes increases (opens in a new tab) lists the cap as 2.9% for 2025 and 2.7% for 2026. From 2022 through 2024 the 3% ceiling applied.

Additions and improvements are added at just value on the first January 1 after substantial completion; section 193.155(4) has separate rules for rebuilding after a calamity.

Hypothetical worked example

The figures below are invented for illustration and are not a forecast for any property. A home first receives the exemption with a just value and assessed value of $300,000. The next January 1 its just value is $340,000, and the applicable cap is 2.7%:

$300,000 × 1.027 = $308,100 assessed value. The Save Our Homes benefit is $340,000 − $308,100 = $31,900.

The homestead exemption is then subtracted from the $308,100 assessed value, not from just value; because the second layer excludes school levies, school and non-school taxable values differ.

What happens when the home is sold or title changes

The benefit belongs to the owner and the homestead, not to the house. Section 193.155(3) requires reassessment at just value on the January 1 after a change of ownership, which it defines as a sale, foreclosure, or transfer of legal or beneficial title. Exceptions include transfers between spouses (including on divorce or death), certain transfers to a surviving spouse or dependent on death, transfers that only correct an error, and some transfers in which the same person remains entitled to the exemption.

For a buyer, the seller’s tax bill is a poor guide: a long-held homestead’s Save Our Homes benefit disappears after the sale, so estimate taxes from the purchase price. Our guide to researching property taxes before buying covers the steps, and the new homeowner checklist covers the first year.

Portability: carrying the benefit to a new home

Portability lets an owner who received a homestead exemption on a prior Florida home apply part or all of the Save Our Homes difference to a new Florida homestead. Under section 193.155(8) (opens in a new tab), as amended by chapter 2026-239, you qualify if you received a homestead exemption “as of January 1 of any of the 3 immediately preceding years” before establishing the new homestead. PT-112 describes this as three years from January 1 of the year the old homestead was abandoned, not three years from the sale date.

To claim it, file Form DR-501T, Transfer of Homestead Assessment Difference (opens in a new tab), together with the DR-501 for the new home by March 1. Co-applicants moving from different prior homesteads each file a separate DR-501T. If the old home was in another county, the two appraisers exchange the records.

The statute caps the transferable amount at $500,000 and uses two formulas:

  • Upsizing (new home’s just value is equal to or greater than the old home’s): subtract the old home’s benefit, up to $500,000, from the new home’s just value.
  • Downsizing (new home’s just value is lower): the new home keeps the same ratio of assessed to just value that the old home had, with the reduction still limited to $500,000.

Hypothetical example (invented figures): an old homestead had a just value of $400,000 and an assessed value of $250,000, a $150,000 benefit. If the new home’s just value is $550,000, its first-year assessed value is $550,000 − $150,000 = $400,000. If the new home’s just value is $300,000 instead, its assessed value is $300,000 ÷ $400,000 × $250,000 = $187,500.

When co-owners split up and each buys a new home, the benefit is divided among the owners who received the exemption; married couples may designate shares on Form DR-501TS, irrevocably, before either files a DR-501T. Chapter 2026-239 also amended the upsizing and downsizing formulas in section 193.155(8)(a) and (b); those changes first apply to the 2027 tax roll. If you missed March 1, you can petition the VAB for a late portability assessment within 25 days after TRIM notices are mailed, with a $15 fee. Owners who miss the first year entirely may file in a later year, but the reduction applies only going forward, with no refunds for earlier years.

If an application is denied: VAB petitions

The property appraiser must send a written denial with reasons. Under section 194.011 (opens in a new tab), a petition to the county value adjustment board challenging the denial of an exemption must be filed within 30 days after the denial notice is mailed. A petition about valuation must be filed within 25 days after the TRIM notice is mailed. The DOR’s value adjustment board resources (opens in a new tab) confirm that the VAB hears denied exemptions and portability decisions, and they link the uniform procedures boards must follow.

Before filing, call the appraiser’s office; many denials stem from a missing document or a residency question. Miami-Dade’s assessment review page describes an informal review period after TRIM notices go out. At the VAB, bring the deed, proof of residency as of January 1, and any DR-501T paperwork. For a portability denial upheld by the VAB, section 193.155 allows a circuit court action within 60 days. Our assessment appeal preparation guide covers how to organize evidence.

Common mistakes to avoid

  • Filing the new homestead application without DR-501T and assuming the benefit transfers automatically.
  • Renting out the homestead, or keeping a residency-based exemption in another state.
  • Not telling the property appraiser when the home stops being your permanent residence; PT-112 warns that penalties can follow.

Pending constitutional changes on the November 2026 ballot

In June 2026 the Legislature passed CS/HJR 1-F (opens in a new tab) and filed it with the Secretary of State. It appears as Amendment 3 on the November 3, 2026 ballot (opens in a new tab) and needs 60% approval. Its ballot title is now “Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments.” The Attorney General rewrote the original title, “Save Our Homes From Excessive Property Taxes,” after a circuit judge ruled on August 3, 2026 (opens in a new tab) that the original wording was defective. According to the House’s final bill analysis (opens in a new tab) and the enrolled text (opens in a new tab), it would:

  • Raise the homestead exemption for non-school taxes to $150,000 of assessed value on January 1, 2027, and $250,000 on January 1, 2028. The $250,000 amount would be indexed to the Consumer Price Index starting in 2029.
  • Leave school taxes alone. The school-tax exemption would stay at $25,000.
  • Treat owners who were not Florida permanent residents as of December 31, 2026, differently. They would get $25,000 off school taxes and $50,000 off other taxes, about the same as today’s exemption, with the $50,000 indexed to CPI from 2028. The larger exemption would start in their fifth year of exemption.
  • Cut the annual assessment cap on non-homestead property from 10% to 5% for non-school taxes.
  • Limit what counties and cities may spend property tax revenue on.

The Manatee County Property Appraiser’s FAQ (opens in a new tab) says that, if approved, the changes would first appear on the August 2027 TRIM notices and the tax bills mailed in November 2027. You would still need a homestead exemption on file. The state’s Revenue Estimating Conference (opens in a new tab) estimated on July 10, 2026, that local non-school property tax revenue would fall by $4,929.5 million in fiscal year 2027–28 and $8,714.5 million in 2028–29, with a recurring impact of $11,834.7 million a year.

A second property tax measure is also on the ballot. The Leon County Supervisor of Elections ballot list (opens in a new tab) shows Amendment 2, “Exemption of Tangible Personal Property on Agricultural Land from Taxation.” It would exempt farm equipment and other tangible personal property used on agricultural land and owned by the landowner or leaseholder. It does not change the homestead exemption. Our guide to the November 2026 property tax ballot measures covers both amendments and measures in other states. The rest of this guide describes current law.

Find your county’s property appraiser through the Florida county directory, for example Miami-Dade County or Broward County. For how exemptions work in other states, see the general homestead exemption guide.

Frequently asked questions

How much is the Florida homestead exemption in 2026?

Up to $51,411 of assessed value. The first $25,000 applies to all taxes, including school taxes. The other $26,411 applies only to non-school taxes and only to assessed value above $50,000.

What is the deadline to file for homestead exemption in Florida?

March 1. If you miss it, you can file a late application up to 25 days after the TRIM notices are mailed in August. The property appraiser may grant it if you show extenuating circumstances.

How long do I have to transfer my Save Our Homes benefit?

You must have had a homestead exemption as of January 1 of any of the 3 years before you establish the new homestead. File Form DR-501T with your DR-501 by March 1.

Does the Save Our Homes cap transfer to the buyer?

No. The home is reassessed at market value on the January 1 after the sale. Estimate the buyer’s taxes from the purchase price, not the seller’s bill.

Can I lose my homestead exemption if I rent out my house?

Yes. The Department of Revenue says renting the home, or no longer using it as your permanent residence, ends eligibility. Tell the property appraiser if your use changes. If a denial looks wrong, see our appeal preparation guide.

Sources reviewed October 26, 2026. This guide covers the general homestead exemption, Save Our Homes, and portability; it does not cover senior, disability, veteran, or other Florida exemptions, and statutes and county procedures can change.