Florida offers terrific property-tax relief for permanent (primary) resident homeowners. Two constitutionally protected programs drive most of the savings: the Homestead Exemption and Save Our Homes. Together, they lower your taxable value and limit how fast it can rise—savings that can accumulate over time and even follow you to a new Florida home (portability) as long as you continue to qualify.

The Two Big Breaks

Homestead Exemption (primary residence)

• Reduces your home’s taxable assessed value—up to $50,000+ for most portions of the tax bill. A recent constitutional amendment increases a portion of this reduction via future inflation adjustments.

• For the school portion specifically, the first $25,000 may apply.

• A recent constitutional amendment increase part of this exemption over time to reflect inflation.

Save Our Homes (assessment cap)

• Limits annual increases in your homesteaded home’s assessed value to the lower of 3% or annual inflation.

• For non-homestead property, a separate cap generally limits assessed-value increases to 10% per year.

Why This Matters

• These breaks reduce the gap between market value and taxable value, often meaning meaningful long-term savings.

• If you move within Florida and keep your primary-resident status, some accumulated benefit can transfer to your next home (subject to eligibility and limits).

Buying a Home: What to Expect

Don’t assume the seller’s tax bill will be yours.

• Check whether the seller has Homestead and for how long. Long ownership plus Save Our Homes can hold their assessment well below market.

• Ask your county property appraiser for an estimate of your first full-year tax bill. (Your Realtor can point you to the right tool/page.)

Timing & eligibility

• You must apply to receive Homestead/Save Our Homes. Eligibility generally requires you to be a full-time Florida resident (more than six months per year).

• New owners typically benefit from the seller’s exemptions for the remainder of the purchase year. Your own exemptions and caps usually start the following year once you apply and qualify.

Starting part-time? You can update later.

• Many buyers begin as seasonal residents. You can apply for Homestead if/when your status changes to full-time.

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Final Notes & Where to Learn More

There are additional rules, limits, and a few smaller exemptions that may apply to your situation. For personalized guidance, talk with your accountant and your county property appraiser. For an official overview, see the Florida Department of Revenue’s page on property-tax exemptions:
floridarevenue.com/property/pages/taxpayers_exemptions.aspx

This article is general information, not legal or tax advice.