Florida Homestead, Save Our Homes, and Portability Guide
Updated October 2026
Florida property taxes after a home purchase
A seller's property-tax bill is a historical snapshot, not a reliable forecast for a buyer. Long ownership can create a substantial gap between market value and assessed value under Save Our Homes. A qualifying ownership change generally resets the assessment to just value on the following January 1, subject to applicable rules.
Florida's familiar $50,000 homestead exemption describes the foundational two-part benefit. The first $25,000 applies to eligible assessed value across property taxes, including school taxes. The additional exemption applies to qualifying value above $50,000 and excludes school levies. Its inflation adjustment means the additional portion can exceed $25,000 in 2026; use the current amount rather than assuming a permanently fixed total.
Know which benefit does what
| Feature | What it changes | Key boundary |
|---|---|---|
| Homestead exemption | Taxable value | Eligibility and January 1 residence status |
| Save Our Homes | Annual assessed-value growth | Lower of 3% or applicable CPI change |
| Portability | Transfers an eligible assessment difference | Up to $500,000, with timing rules |
The 3% Save Our Homes cap limits assessment increases, not the total tax bill. Changes in millage rates, non-ad valorem assessments, and property improvements can still affect what you pay.
Transfer an existing Florida benefit
Portability can move up to $500,000 of eligible Save Our Homes assessment difference from a previous Florida homestead to a new one. File DR-501T with the homestead application through the new county's property appraiser. The eligibility window generally requires the previous homestead within the preceding three tax years.
When moving to a lower-value property, the transferable benefit is generally proportional rather than simply the entire old assessment difference. Ask the appraiser for a calculation using both properties' just values and the prior assessed value. Standard homestead filing is due March 1; obtain county instructions for your situation.
Budget before escrow catches up
Use Florida Revenue forms and guidance, then request a buyer-specific estimate from the county property appraiser. Enter that estimate into the monthly payment calculator, alongside financing assumptions from today's rates.
The CFPB explains how escrow shortages affect payments. Keep a reserve if the initial escrow estimate uses an older tax bill. A lower first-year payment does not necessarily represent the property's ongoing cost.
Compare Current Mortgage Rates
Compare current APRs, points, fees, and estimated monthly payments from participating lenders below.
Loan Program Comparison: 2026 Benchmarks
Florida Homestead, Save Our Homes, and Portability Guide — Choose a mortgage by comparing eligibility, upfront cash and total monthly costs, not the advertised rate alone. Conventional, FHA, VA and USDA serve different borrowers. Confirm county limits, taxes, insurance and lender requirements before comparing personalized Loan Estimates for your household.
Historical 2025 one-unit comparison: conforming $806,500; FHA floor $524,225. County and unit-count limits can differ.
| Loan program | Down payment / equity | 2026 one-unit baseline | Costs and page-specific comparison |
|---|---|---|---|
| Conventional | 3%–5% subject to eligibility | $832,750 | PMI generally below 20% down |
| FHA | 3.5% at 580+; 10% at 500–579 | $541,287 floor | 1.75% upfront MIP; 0.55% annual for >95% LTV, base loan ≤$726,200, term >15 years |
| VA | 0% for eligible borrowers | No VA limit with full entitlement | No monthly PMI; funding fee unless exempt |
| USDA | 0% for eligible borrowers | Income, address and repayment eligibility | Guarantee and annual fees; confirm current schedule |
| Jumbo | Lender-specific cash and reserves | Above applicable conforming limit | Lender-specific pricing and insurance |
| Home Equity / Refinance | Equity and underwriting dependent | Property and lender dependent | Compare closing costs, term and break-even |
Sources: FHFA limits; HUD FHA limits.
Editorial Methodology & Primary Sources
Verification date: Not recorded; check the primary source and lender timestamp before relying on an estimate.
Rate comparisons use participating lender feeds, not a whole-market survey or guaranteed offers. Freddie Mac PMMS is a market benchmark, not a personalized quote. Calculator models rely on published regulatory formulas and disclosed assumptions rather than fabricated first-person loan testing.
Monthly principal and interest use the amortization formula P × r / (1 − (1 + r)−n), where r is the monthly note rate and n is the number of payments; at zero interest use P / n. PITI adds monthly property taxes and homeowners insurance; PMI is separate. APR includes applicable finance charges under Regulation Z and is not the note rate used for payments. Compare lender Loan Estimates for actual APR and fees.
- Consumer Financial Protection Bureau (CFPB) — Loan Estimates, APR and borrower disclosures; Regulation Z.
- U.S. Department of Housing and Urban Development (HUD / FHA) — FHA program guidance.
- U.S. Department of Veterans Affairs (VA) — VA loan eligibility and benefits.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — published rate benchmarks.
- U.S. Census state tax collections — state property tax benchmarks; confirm parcel-specific assessments and exemptions with the state revenue department and local assessor.
The payment snapshot uses illustrative annual taxes of 1% of home price, $1,200 insurance and 0.5% PMI below 20% down, not verified local quotes. Other calculators disclose their inputs and assumptions. Published guidance and lender feeds may change independently; confirm current program rules, taxes and offers before a decision.