Florida Homestead Exemption, Save Our Homes & Portability

Florida’s Homestead Exemption: The Gift That Keeps On Giving

As the calendar turns and many new Florida homeowners are finally settled, there’s one benefit worth putting at the top of your new year checklist: Homestead. Established in the Florida Constitution, homestead provides Florida homeowners who claim a property as their primary residence with valuable property-tax savings and important legal safeguards, including protections from certain creditor claims.

Below is a practical guide to what homestead does, how Save Our Homes works, and the key dates that matter—especially if you bought or moved this year.

The Immediate Benefit:
Property-Tax Savings (up to $50,000)

Florida’s homestead exemption can reduce your home’s taxable value by up to $50,000:

First $25,000: applies to all property taxes, including school taxes.

Additional exemption up to $25,000: applies to assessed value over $50,000 and only to non-school taxes (in practical terms, this portion benefits county/city/special district taxes, not the school board).

A quick reminder: this is an exemption against assessed value (not necessarily market value). The result is often noticeable savings on annual tax bills, especially helpful after a recent purchase when expenses can feel highest.

The Long Game:
Save Our Homes Keeps Future Increases in Check

Homestead isn’t just a one-time perk. Once you’re approved for homestead, you also gain the Save Our Homes (SOH) assessment limitation, which limits how much your home’s assessed value can increase each year to the lower of 3% or the Consumer Price Index (CPI).

Why this matters: in appreciating markets, SOH can create a meaningful gap over time between market value and assessed value. That gap is where long-term tax savings live.

Important note for buyers: When a homesteaded home is sold (or otherwise changes ownership), the SOH limitation is generally removed and the property is reassessed, which is why a new owner’s taxes can rise compared to what the previous owner paid.

Portability:
Bring your SOH Savings with You (up to $500,000)

If you owned a prior Florida homestead and moved to a new primary residence, don’t overlook portability. Florida allows eligible homeowners to transfer up to $500,000 of their accumulated SOH benefit (the difference between market and assessed value) from a previous homestead to a new one, potentially lowering future tax liability on the new home.

Two common “misses” we see:

1. Assuming portability is automatic. It’s not. You have to apply.
2. Missing the timing window: you must establish homestead on the new home within the allowable period after abandoning the prior homestead (the state guidance is tied to tax years, not simply your closing date).

If you upgraded, downsized or relocated within Florida recently, portability can be one of the most valuable steps you take, often with benefits that compound over time.

The Dates that Matter:
January 1 and March 1

Homestead is very date-specific:

January 1: You must own and occupy the property as your permanent residence as of January 1 of the year you’re claiming.

March 1: You must apply by March 1 to receive the exemption for that year (Sarasota County follows this deadline).

A Simple New Year Checklist
(especially if you moved recently)

Before January 1, make sure your paper trail matches your reality:

• Florida driver’s license and vehicle registration reflect your homestead address
• Voter registration updated (if applicable)
• Your primary mailing address aligns with the home you’re claiming

And then: apply as early as you can through your county property appraiser.

Once You Have Homestead, It Generally Renews Automatically

The best part: once your homestead exemption is approved, you typically do not reapply every year. In Sarasota County, the Property Appraiser’s office notes that homestead is automatically renewed if there are no changes.

You should notify the Property Appraiser if your situation changes—such as renting the home, changing primary residence, or changing ownership—so your exemptions remain accurate.

A Quick Word on “Homestead Protection” Beyond Taxes

Florida homestead is also known for providing significant protection against certain creditor claims, with important exceptions (including taxes and assessments, mortgages and certain liens for improvements/repairs). These rules can be nuanced, so it’s wise to consult a qualified Florida attorney if you’re relying on homestead for asset-protection or estate-planning reasons.

Local Note from the Laughlin Tanner Group

If you purchased a home in 2025 and you’re living in it as your primary residence by January 1, 2026, this is your window to set yourself up for homestead and long-term SOH benefits. Schedule yourself to file by March 1, 2026 with your county property appraiser.

As always, we’re happy to help point you to the right county resources and trusted local professionals.

This article is for general information only and isn’t legal or tax advice. With appreciation to our friends and partners at Berlin Patten Ebling for their continued guidance on Florida real estate matters.