Florida has no state income tax — property tax is how everything gets paid for, which makes the homestead exemption the most valuable filing a Florida homeowner ever makes. It cuts your taxable value immediately, and more importantly, it turns on a growth cap that compounds into enormous savings the longer you own. Miss the filing and you pay full freight.
The Exemption Itself
For 2026, the homestead exemption removes up to $51,411 from your home's assessed value: the first $25,000 applies to all taxes including schools; the second portion (now inflation-adjusted each year thanks to 2024's Amendment 5 — $26,411 in 2026) applies to non-school taxes on value between $50,000 and $75,000. Typical savings: roughly $750–$1,000+ per year, depending on your millage rates.
Save Our Homes: The Real Prize
Once homesteaded, the Save Our Homes cap limits your assessed-value growth to 3% per year or inflation, whichever is lower — no matter what the market does. In fast-rising Florida markets this quietly becomes the biggest tax shelter you own: after a decade, homesteaded neighbors often pay a fraction of what a new buyer of the identical house next door pays.
Portability: Take Your Savings With You
Moving within Florida? You can transfer — "port" — up to $500,000 of your accumulated Save Our Homes benefit (the gap between market and assessed value) to the new homestead. You generally must establish the new homestead within three years. This is a separate form (DR-501T) filed with the new county — easy to miss, expensive to forget.
The Extra Exemptions
| Who | What |
|---|---|
| Seniors 65+ (income-limited) | Counties/cities may grant up to an additional $50,000 off non-school taxes; household income limit adjusts annually (roughly the mid-$30,000s) — apply through the county property appraiser |
| Long-term senior residents | Some counties fully exempt seniors 65+ who've owned 25+ years in a modest-value home |
| Widows/widowers | $5,000 exemption |
| Disability | $5,000; total exemption for total and permanent disability in qualifying cases |
| Veterans | $5,000 for 10%+ service-connected disability; full exemption for 100% permanently disabled veterans; combat-related discounts for 65+; surviving spouses may retain benefits |
Worth Watching: November 2026
A constitutional amendment on Florida's November 2026 ballot proposes raising the homestead exemption dramatically (to $150,000 in 2027 and $250,000 in 2028, needing 60% voter approval). Whatever happens at the polls, the mechanics above — and the March 1 deadline — stay the same. We'll update this guide after the vote.
Notes for Our Community
- Permanent residency matters: homestead requires that Florida be your permanent legal residence — green card holders qualify; buyers on temporary visas generally don't (though a U.S.-resident dependent living in the home can qualify it in some cases). Foreign nationals buying vacation or investment property don't get homestead — budget taxes accordingly.
- New buyers: taxes reset. The seller's Save Our Homes cap dies at sale — your bill will be based on your purchase-era value, often far above what the seller was paying. Never budget from the seller's old tax bill; see our escrow guide for how this hits year-two payments.
The Fine Print
Amounts and income limits adjust annually and counties administer their own extras — verify with your county property appraiser (education, not tax advice; current as of July 2026). When you close a Florida purchase with us, the homestead filing — and the portability form when it applies — is on the post-closing checklist we walk through together, in English, Portuguese, or Spanish.
Frequently Asked Questions
When is the Florida homestead filing deadline?
March 1, with your county property appraiser, for a home that was your permanent residence on January 1. Most counties accept online filing; it renews automatically.
What is the Save Our Homes cap?
Once homesteaded, your assessed value can rise at most 3% per year (or inflation, if lower) — over years, this becomes the biggest tax protection a Florida homeowner has.
Can non-citizens claim the Florida homestead?
Permanent residents (green card) qualify; temporary-visa holders generally do not. Foreign nationals buying vacation or investment property don’t get homestead — budget taxes accordingly.
Prepared by the Alvorada Mortgage, LLC team — a mortgage broker licensed in Georgia (#2137907) and Florida (#MBR5158). NMLS #2137907. Educational content; not a commitment to lend.