The Florida homestead exemption reduces the taxable value of your primary home by up to $50,000: the first $25,000 applies to all property taxes, and a second exemption of up to $25,000 (now adjusted each year for inflation) applies to assessed value above $50,000 for non-school taxes. You must own the home and live in it as your permanent residence on January 1, and apply to your county property appraiser by March 1.

Getting the homestead exemption also unlocks the Save Our Homes cap, which limits how much your home’s assessed value can rise each year. Over time, that cap is often worth more than the exemption itself. If you are buying in Florida, put the homestead application on your to-do list for the January after you move in.

One more thing to know this fall: Florida voters will decide on a proposed constitutional amendment on November 3, 2026, that would greatly expand the non-school homestead exemption. It is not law yet. We explain it below.

  • Who: owners who make the home their permanent residence by January 1.
  • How much: up to $50,000 off assessed value, with the second $25,000 indexed to inflation.
  • Deadline: March 1 of the tax year, filed with your county property appraiser (Form DR-501).
  • Bonus: Save Our Homes caps annual assessment increases at 3% or the change in CPI, whichever is lower.

How the Florida homestead exemption is calculated

The exemption is set by section 196.031 of the Florida Statutes and explained by the Florida Department of Revenue in its homestead brochure (PT-113). It works in layers on your home’s assessed value, not its market price.

Part of the exemption Amount Which taxes it reduces
First exemption $25,000 (first $25,000 of assessed value) All property taxes, including school district taxes
Assessed value from $25,000 to $50,000 No exemption This slice is fully taxable
Additional exemption Up to $25,000, adjusted annually for inflation (on assessed value above $50,000) Non-school taxes only (county, city and other levies)
Total Up to $50,000 plus the inflation adjustment Depends on your home’s assessed value

The Department of Revenue gives simple examples. A home assessed at $45,000 gets only the first $25,000 off. A home assessed at $65,000 gets the first $25,000 off all taxes and the last $15,000 off non-school taxes. A home assessed at $100,000 or more gets the full benefit.

The inflation adjustment (Amendment 5 of 2024)

Florida voters approved Amendment 5 in the November 2024 election. Starting with the 2025 tax year, the $25,000 additional exemption is adjusted every January 1 by the percentage change in the Consumer Price Index (CPI), but only when that change is positive. If prices fall, the amount stays where it was. Your county property appraiser applies the current figure automatically, so you do not need to file anything extra.

Who qualifies for homestead in Florida

Under section 196.031, you qualify if, on January 1, you hold legal title or beneficial title in equity to the property and in good faith make it your permanent residence (or the permanent residence of someone legally or naturally dependent on you).

  • January 1 is the key date. If you close on a home and move in by January 1, you can apply for that tax year. If you close on January 2, you wait until the following year.
  • It must be your permanent home. You lose eligibility if you rent out the unit, stop living there permanently or stop being a permanent Florida resident.
  • One homestead only. The application asks whether you claim residency in another county or state.
  • Residency status. The Miami-Dade Property Appraiser, for example, states that applicants must be U.S. citizens or permanent residents. Ask your county property appraiser how this applies to you.

Homestead exemption Florida deadline and how to apply

You file Form DR-501 (Original Application for Homestead and Related Tax Exemptions) with the property appraiser in the county where the home is located, by March 1 of the tax year. Many property appraisers, including Miami-Dade, accept applications online.

What you may be asked for

The Department of Revenue lists items the property appraiser may request to prove residency:

  • Florida driver license or ID card
  • Florida vehicle registration and license plate number
  • Florida voter registration (if you are a U.S. citizen)
  • Declaration of domicile
  • Address on your last IRS return, bank statements and utility bills at the home
  • Social Security numbers for you and your spouse or co-applicant

Missed March 1? Late filing rules

Missing the deadline normally means you waive the exemption for that year (section 196.011). There is a narrow second chance: you can still file within 25 days after the property appraiser mails the Notice of Proposed Property Taxes (the TRIM notice). The property appraiser may grant it if you show you were unable to apply on time or had extenuating circumstances. If denied, you can petition the county’s value adjustment board within that same window. Miami-Dade notes that a petition and a $15 fee may apply.

Save Our Homes: the cap on assessment increases

Save Our Homes (section 193.155) is why long-time Florida homeowners often pay much less than new buyers of similar homes. After the first year your home gets the homestead exemption and is assessed at just (market) value, its assessed value cannot rise more than 3% or the change in CPI, whichever is lower, each year. The assessed value never goes above market value.

What happens when you buy

When a homestead changes ownership, the cap ends and the property is reassessed at just value on the following January 1. That is why a buyer’s taxes can be much higher than the seller’s. When you estimate costs, look at the property appraiser’s estimate for a new owner, not the seller’s current bill. Our guide to closing costs in Florida covers the other costs of buying.

Portability: taking your savings with you

If you move from one Florida homestead to another, you may be able to transfer (port) your Save Our Homes benefit, up to $500,000. According to the Department of Revenue, you must establish the new homestead within three years of January 1 of the year you abandoned the old one (not three years after the sale), and file Form DR-501T together with your homestead application by March 1.

Other Florida exemptions you may stack

Some homeowners qualify for more relief on top of the standard homestead exemption. These are the ones we verified in Florida law:

  • Widows, widowers, blind and totally and permanently disabled residents: an extra $5,000 exemption (section 196.202).
  • Veterans with a service-connected total and permanent disability: the homestead can be fully exempt, with VA certification (section 196.081).
  • Seniors 65 and older with limited household income: an additional exemption of up to $50,000 where the county or city has adopted it by ordinance. It is a local option with an income limit adjusted each year, so check with your property appraiser (section 196.075).

The Department of Revenue also publishes guides for active-duty military, first responders and surviving spouses. Exemption forms must also be filed by March 1.

Proposed Amendment 3 on the November 3, 2026 ballot

In a June 2026 special session, the Florida Legislature placed a property tax amendment (HJR 1F) on the November 3, 2026 general election ballot as Amendment 3. As of today it is only a proposal: it needs at least 60% of the vote to pass. According to the Hillsborough County Tax Collector and the Manatee County Property Appraiser, if it is approved:

  • The non-school homestead exemption would rise from $50,000 to $150,000 starting January 1, 2027, and to $250,000 starting January 1, 2028.
  • School taxes would not change; the school exemption stays at $25,000.
  • The annual assessment cap for non-homestead property would drop from 10% to 5%.
  • Save Our Homes and portability would stay the same.
  • Additional residency requirements would apply to new Florida residents.

Changes would first show up on 2027 tax bills. If you are buying now, budget with today’s rules and check your county property appraiser after the election.

Practical tips for buyers

Frequently asked questions

What is the deadline for the homestead exemption in Florida?

You must file Form DR-501 with your county property appraiser by March 1 of the tax year. A late application may still be accepted within 25 days after the TRIM notice is mailed if you show extenuating circumstances.

How much does the Florida homestead exemption save?

It removes up to $50,000 from your home’s assessed value: $25,000 from all taxes and up to $25,000 (adjusted for inflation since 2025) from non-school taxes on value above $50,000. Your actual savings depend on your local tax rates.

Can I get the homestead exemption the same year I buy?

Only if you own the home and live in it as your permanent residence on January 1 of that year. If you buy later in the year, you apply by March 1 of the following year.

What is Save Our Homes in Florida?

Save Our Homes limits annual increases in a homestead’s assessed value to 3% or the change in CPI, whichever is lower. The cap resets when the home is sold, but you may port up to $500,000 of the benefit to a new Florida homestead.

Has the $250,000 homestead exemption been approved in Florida?

No. It is part of proposed Amendment 3 on the November 3, 2026 ballot, which needs 60% voter approval. If approved, the non-school exemption would be $150,000 in 2027 and $250,000 in 2028.

Sources

This article is for general information only and is not legal, tax or financial advice. Amounts and rules change: confirm them with the official sources linked above or with a licensed professional before making decisions.