Who qualifies for Florida's homestead exemption, what it saves, the March 1 deadline, and how Save Our Homes and portability protect you later.
What the exemption does
Florida's homestead exemption takes up to $50,000 off the assessed value of the home you live in as your permanent residence. The first $25,000 applies to all property taxes, including school taxes. The second $25,000 applies to the assessed value between $50,000 and $75,000 and excludes school taxes.
On a typical Miami-Dade home that is a saving of several hundred dollars a year. The bigger benefit comes later.
Save Our Homes: the part most buyers miss
Once your homestead is approved, the assessed value of your home can rise by no more than 3% a year, or the change in inflation if that is lower. Market values in South Florida have moved much faster than that, so the gap between what your home is worth and what you are taxed on grows every year you stay.
If you sell and buy another Florida home, portability lets you carry up to $500,000 of that accumulated difference to the new property. You have to establish the new homestead within three tax years to use it.
Who qualifies
You must hold title to the property and make it your permanent residence as of January 1 of the tax year. Investment properties, second homes and rentals do not qualify.
Have your Florida driver's license or ID, vehicle registration and voter registration (if you are a U.S. citizen) updated to the new address. Non-citizens need proof of permanent residency.
How and when to file
File with the Miami-Dade Property Appraiser, online or in person. The deadline is March 1. If you closed in 2026 and lived in the home on January 1, 2027, file between January 1 and March 1, 2027. You can usually submit as early as the day you close.
Missing the deadline means paying the full rate for that year. If you bought this fall, put a reminder on your calendar now.
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