Florida Property Tax 2026: Homestead Exemption, Save Our Homes & Portability

Florida has no state income tax — property tax does the heavy lifting for local government revenue. But the state's twin homestead benefits, Save Our Homes and the $50,000 exemption, have made Florida one of the most owner-friendly tax regimes in the country for long-term residents. This 2026 guide covers how the homestead benefits work, portability when you move, and the narrow 25-day TRIM appeal window.

How Florida Property Tax Works

Florida property tax is administered by 67 county property appraisers (assessors) and 67 county tax collectors, with uniform state law governing exemptions and appeals. Millage is set annually by county, city, and special district taxing authorities based on their budgets.

The calculation

In the same neighborhood, a buyer purchasing in 2026 at $400,000 has just value = assessed value = $400,000, taxable = $350,000, tax = $7,175. The long-term owner's advantage is about $1,640/year.

The Homestead Exemption — File by March 1

Florida's homestead exemption has two tiers:

• First $25,000: exempt from all taxing authorities (county, city, school, special districts)
• Next $25,000 (on the portion of value from $50,000 to $75,000): exempt from all taxing authorities EXCEPT school district taxes

Combined, an owner-occupant with assessed value at or above $75,000 receives the full $50,000 exemption.

Who qualifies

• Florida resident (established with Florida driver's license, voter registration)
• Own and occupy the property as your permanent residence on January 1 of the tax year
• Have no similar exemption in another state

How to apply

File with the county property appraiser using form DR-501. Deadline: March 1 of the tax year (or late-filed until the certification of the tax roll, typically September, with good cause).

What you gain automatically

Once approved, homestead exemption continues automatically unless you sell, move, or rent the property. You also gain:

• Save Our Homes cap (3% annual increase limit on assessed value)
• Portability of up to $500,000 of SOH savings when you move

Save Our Homes Cap

Approved by Florida voters in 1992, Save Our Homes caps the annual increase in assessed value of a homestead property at 3% or CPI, whichever is lower. For tax year 2025, the cap applied was 2.9% (CPI rate).

How it compounds

Over time, assessed value drifts below just (market) value. A Florida homestead purchased in 2005 at $200,000 can have just value of $500,000 in 2026 but assessed value of only $300,000. The "SOH savings" is the $200,000 difference — protected from tax until the property is sold.

Reset on sale

When a homestead is sold, the SOH cap resets for the buyer. The new owner's first-year assessed value equals just value. Then their own 3% cap begins accumulating.

Not applicable to non-homestead

Rental property, vacation homes, and commercial property have a separate 10% annual cap on non-homestead property (approved in 2008). Still better than uncapped, but not as generous as the 3% SOH cap for primary residences.

Portability: Take Your SOH Savings With You

Florida voters approved Amendment 1 in 2008, allowing homeowners to transfer ("port") up to $500,000 of Save Our Homes savings to a new Florida homestead.

Mechanics

• If the new home's just value is equal to or greater than the old home: transfer the SOH savings amount directly (up to $500,000 cap)
• If the new home's just value is less than the old home: transfer the SOH savings proportionally

Time limit

You must establish the new homestead on or before January 1 of the third year after abandoning the prior homestead. Filing is done with the DR-501T form.

Co-owner caveat

If the prior homestead was co-owned (spouses), each spouse has up to $500,000 of portability. Divorcing couples can each retain a share.

Other Important Exemptions

Additional Senior Exemption (65+)

An optional local exemption, adopted by many Florida counties and municipalities, adds up to $50,000 on top of the regular homestead. Income limit for 2026: approximately $37,000 (adjusted annually). Must be age 65+ on January 1.

Disabled Veterans Exemption

• Totally disabled: full exemption on homestead
• Combat-related disability 65+: percentage reduction equal to VA disability rating
• Surviving spouses of 100% service-connected disabled or KIA veterans: full exemption

Widow(er)'s Exemption

$5,000 reduction in assessed value for a surviving spouse who has not remarried. Must be permanent Florida resident.

Disability Exemption

$5,000 reduction for a blind or totally and permanently disabled person (any age). Higher amounts for certain specific conditions.

Assessment Limitations for Disabled Military Veterans (First Responders)

Under Florida Statute 196.081, 100% service-connected disabled veterans can receive a full homestead exemption. Similar programs exist for disabled first responders.

The 25-Day TRIM Appeal Window

Every Florida property owner receives a TRIM notice (Truth in Millage) from the county property appraiser in mid-August each year. The TRIM notice shows:

• Current just, assessed, and taxable values
• Proposed millage rates from each taxing authority
• Estimated tax under the proposed rates
• The deadline to file a value adjustment board petition (25 days from the TRIM notice date)

Appeal process

1. Informal meeting with the property appraiser — no cost, often resolves the dispute. Must be done before filing the petition.
2. File Petition with Value Adjustment Board (VAB) — filing fee typically $15. Deadline: 25 days from TRIM notice date (usually early September).
3. VAB hearing — typically 60 to 180 days later, before a Special Magistrate. Present evidence including comparable sales, physical attribute errors, or inappropriate property class.
4. Written decision issued by the VAB
5. Appeal to Circuit Court within 60 days of the VAB decision (filing fee applies)

Payment Schedule and Discounts

Florida property tax bills are mailed November 1 for the tax year ending December 31. Payment in full is due by March 31 of the following year.

Early payment discounts

• November: 4% discount
• December: 3% discount
• January: 2% discount
• February: 1% discount
• March: full amount due

After March 31, taxes become delinquent. Interest accrues at 18% per year. After April 1 of the following year, the tax collector sells tax certificates at public auction.

Frequently Asked Questions

How much is the Florida homestead exemption in 2026?

$50,000 total for Florida residents who own and occupy the property as their permanent residence. The first $25,000 is exempt from all taxing authorities; the next $25,000 (on value from $50,000 to $75,000) is exempt from all except school district taxes. File with your county property appraiser by March 1.

What is Save Our Homes in Florida?

A constitutional amendment that caps the annual increase in assessed value of a homestead property at 3% or CPI, whichever is lower. For tax year 2025 the cap was 2.9%. Over years of ownership, assessed value drifts below market value, protecting long-term owners from tax increases caused by market appreciation.

How does portability work in Florida?

When you move to a new Florida homestead, you can transfer up to $500,000 of accumulated Save Our Homes savings to the new property. You must establish the new homestead on or before January 1 of the third year after abandoning the prior one. File form DR-501T with the county property appraiser.

When is the Florida property tax appeal deadline?

25 days from the date of the TRIM (Truth in Millage) notice, which is mailed in mid-August. File a petition with the county Value Adjustment Board. This is one of the shortest appeal windows in the country — open the TRIM notice immediately and calendar the deadline.

Does Florida offer senior property tax exemptions?

Yes. The additional senior homestead exemption, adopted by most Florida counties, adds up to $50,000 on top of the regular $50,000 homestead exemption for homeowners age 65+ with income below approximately $37,000 (2026 threshold, indexed). Check with your county property appraiser for local adoption and exact income limit.