Portability of Homestead Savings is available to Floridians
In January 2008, Florida voters overwhelmingly approved a constitutional amendment, Amendment 1, which grants added tax relief to homesteaded property owners. The amendment gives homesteaded owners the ability to transfer some or all of their Save Our Homes benefits to a new homesteaded property. Each homestead has a unique portability scenario. Contact our office or visit the Florida Department of Revenue website for more information.
|Save Our Homes Annual Increase|
|Year||CPI Change *||Cap *|
*The Save Our Homes (SOH) cap was established in 1995 according to section 193.155(1), of the Florida Statutes.The SOH cap is placed on the Assessed Value the year after the property receives a Homestead Exemption and is based on the lower of the following:
Three percent of the Assessed Value of the property for the prior year, or the percentage change in the Consumer Price Index (CPI) as reported by the U.S. Department of Labor, Bureau of Labor Statistics.