Florida Homestead Exemption: Complete 2026 Guide (Save Up to $50,000)
May 2026
Florida's homestead exemption is one of the most powerful tax benefits available to homeowners in the state — reducing your taxable property value by up to $50,000 and triggering the Save Our Homes assessment cap that limits future increases to 3% per year. If you bought a home in Florida and haven't applied, you could be overpaying thousands in property taxes.
What is the Florida homestead exemption?
The homestead exemption reduces the assessed value of your primary residence for property tax purposes. Florida provides two layers of exemption: the first $25,000 applies to all property taxes. The second $25,000 (valued between $50,000 and $75,000) applies to non-school taxes only. Combined, the savings vary by location but typically run $500–$1,500 per year depending on your county's millage rate.
Who qualifies for the homestead exemption?
To qualify, you must: (1) own the property as of January 1 of the tax year, (2) use it as your permanent residence — meaning it is the address on your Florida driver's license, voter registration, and federal income tax return, and (3) be a permanent Florida resident. U.S. citizenship is not required — legal permanent residents qualify.
How to apply for the homestead exemption
Applications are submitted to your county Property Appraiser's office. The deadline is March 1 of the tax year for which you want the exemption to apply. In Palm Beach County, apply at pbcgov.com/papa. In Broward, at bcpa.net. In Miami-Dade, at miamidade.gov/pa. Most counties now allow online filing. You'll need your deed, Florida driver's license or ID, and vehicle registration showing your Florida address.
The Save Our Homes cap
Once homestead is granted, the Save Our Homes (SOH) amendment limits annual increases in your property's assessed value to 3% or the Consumer Price Index — whichever is lower. In a hot market where market values rise 10–15% per year, this cap creates enormous long-term savings. Homeowners who've had homestead for 10+ years often have an assessed value 30–50% below market value.
Portability: taking your savings with you
When you sell a homesteaded property and buy a new one in Florida, you can transfer up to $500,000 of your accumulated SOH benefit to your new home. This is called portability. You must apply for portability when you apply for homestead on your new home. Missing the portability window means losing your accumulated savings.
Additional exemptions available
- Senior Homestead Exemption — additional $25,000 exemption for qualifying seniors age 65+ with limited income
- Disabled Veterans Exemption — additional exemption or full exemption for 100% disabled veterans
- Widow/Widower Exemption — additional $500 exemption
- Disability Exemption — additional $500 for legally blind or totally disabled homeowners
For personalized guidance on buying or selling in South Florida, contact the team at Pure Equity Realty. We serve Palm Beach, Broward, Miami-Dade, St. Lucie, and Highlands counties with expert representation and a 1% listing fee.