Insights · Homeowners
The one form Florida homeowners forget. Here is what it does, who qualifies, and the direct link to file in your county.
If I helped you close on a home this year, congratulations again. Now do me one favor before life gets busy: file your homestead exemption. It takes about 15 minutes online, it costs nothing, and it keeps paying you back every single year you live in the home.
The Florida homestead exemption lowers the taxable value of your primary residence, which is the number your property taxes are calculated from. Just as important, it unlocks Save Our Homes, which caps how much your assessed value can rise each year at 3 percent, even when market values jump much faster. The exact impact depends on your home and your county, so your county property appraiser is the place for specifics. This is information from your Realtor, not tax advice.
Investment properties, second homes, and rentals do not qualify. Your homestead is the home you actually live in.
And here is the part most people miss: you can file as soon as you close. There is no reason to wait for January. Bought this year? File now and you are set for next year.
The exact list varies a little by county, so have these handy and the application goes quickly.
If you had a homestead on a previous Florida home, portability lets you carry your Save Our Homes benefit to the new one by filing form DR-501T with your application. It can make a real difference in what your new home is assessed at. And if you are even thinking about your next move, this is a conversation to have with me BEFORE you sell, because the timing affects what you can carry over.
It renews automatically every year, and refinancing does not touch it. But if you added someone to the deed, moved, or started renting the home out, call your county property appraiser so nothing surprises you later.
These links go straight to the official county property appraiser sites. Pick yours and file.
Text me. I will help you check, and if a move is on your mind, we will plan the timing so you keep every benefit you have earned. Call, text, or WhatsApp 786-872-5151. English y Espanol.
Questions about financing or the portability math on your next purchase? Stephanie’s trusted lender partner Ronald Cepeda (NMLS #407464) is at applywithronald.com.
No. Once your homestead exemption is approved, it renews automatically each year as long as the home stays your permanent residence. Most counties mail or email a renewal notice in January. You only need to act if something changed, like moving or renting the home out.
Eligibility is based on owning and living in the home on January 1. If you close in December and move in, you can qualify for the following tax year, and you can file as soon as your deed is recorded. There is no reason to wait for January.
No. A refinance does not remove your exemption, because you still own and live in the home. What can affect it is changing how the property is titled or who is on the deed, so if your refinance involved either of those, a quick call to your county property appraiser is worth it.
Save Our Homes is the protection that comes with your homestead exemption. It caps how much your home's assessed value can rise each year at 3 percent, no matter how fast market values climb. Over time, that cap is often worth more than the exemption itself, and it is the benefit you can carry to your next Florida home through portability.
No. Florida allows one homestead per family unit, and it must be your permanent residence. Second homes, vacation homes, and rentals do not qualify, and claiming a homestead-style benefit in another state at the same time can get your Florida exemption denied with back taxes and penalties.
This article is general information and is not tax or legal advice. Confirm requirements with your county property appraiser.