Understanding Save Our Homes Portability

Florida homeowners benefit from the Save Our Homes (SOH) cap, which limits annual increases in a homesteaded property’s assessed value to no more than 3% per year—even if market values rise much higher. This keeps property taxes more predictable and affordable over time.

But what happens if you move? That’s where portability comes in. Portability allows you to transfer the tax savings you’ve built up under the SOH cap from your current homesteaded property to a new one in Florida.

Here’s what to know:

• You can transfer up to $500,000 of your SOH savings.

• The new home must also qualify for a homestead exemption.

• You have up to 3 years after selling your previous home to apply.

For example, if your current home’s market value is $400,000 but your assessed value (thanks to SOH) is $300,000, you have $100,000 in savings. When you move, that amount can be applied to reduce the taxable value of your new Florida home—keeping your property taxes lower than they otherwise would be.

Bottom line: Save Our Homes portability makes it easier (and more affordable) to move without losing the property tax savings you’ve built up.