Rules reviewed October 6, 2026. This guide explains Florida’s existing Save Our Homes portability system. Calculations are illustrative and require confirmation by the county property appraiser.
Florida homestead portability allows an eligible homeowner to transfer up to $500,000 of accumulated Save Our Homes assessment difference to a new Florida homestead. It reduces the new home’s assessed value. It is not a $500,000 tax credit, a cash payment or a transfer of the seller’s tax bill.
The two decisions that matter most are when the new home qualifies as a homestead and how its just value compares with the previous home’s value. Filing the right form is essential, but a correct application cannot substitute for eligibility.
Key takeaways
- What moves: the gap between the previous home’s just value and assessed value, within the applicable limit.
- When to qualify: the homeowner must have received homestead exemption as of January 1 in one of the three immediately preceding years.
- When to file: the ordinary deadline is March 1 of the year for which the new homestead benefit is sought.
- What to submit: Form DR-501T with the new homestead application, through the property appraiser for the new property.
- What changes when downsizing: the transferable benefit is generally proportional to the new home’s lower just value.
What Florida homestead portability actually transfers
Save Our Homes limits annual increases in the assessed value of qualifying homestead property, generally to the lower of 3% or the applicable change in the Consumer Price Index. Over time, the assessed value can fall well below the property’s just value. That accumulated difference is the benefit that portability can carry to another eligible Florida home. The Florida Department of Revenue’s portability guide explains the relationship.
Three values should be kept separate:
- Just value: the property appraiser’s market-value assessment.
- Assessed value: the value after applicable assessment limitations or adjustments.
- Taxable value: the value after the exemptions applicable to a particular taxing authority.
For example, an old homestead with a $600,000 just value and a $350,000 assessed value has a $250,000 assessment difference. The starting benefit is not the owner’s equity, sale proceeds or mortgage balance. Nor is it the difference between the purchase prices of the old and new homes.
Portability and the homestead exemption therefore perform different jobs. Portability establishes a lower assessment on an eligible move. Exemptions are then applied as appropriate in calculating taxable value. School and non-school taxable values can differ.
The deadline: three assessment years, not three years after closing
Section 193.155(8), Florida Statutes, ties eligibility to having received homestead exemption as of January 1 in any of the three immediately preceding years. The Department of Revenue warns against measuring the period as three years from the sale date.
Miami-Dade provides a concrete example: if the previous homestead exemption was abandoned in March 2024, the new homestead must be established by January 1, 2027. The ordinary filing deadline for that 2027 application is March 1, 2027. See the county portability requirements.
| Milestone | Example | Planning implication |
|---|---|---|
| Previous homestead | Exemption in place January 1, 2024 | Confirm the exemption and assessment record. |
| Abandonment | March 2024 | Record the actual change in homestead use. |
| Latest new homestead date in this example | January 1, 2027 | A later closing does not extend this date. |
| Ordinary application deadline | March 1, 2027 | Submit the new homestead and portability applications. |
The practical issue for a household relocating late in a calendar year is whether ownership and permanent-residence requirements will be satisfied on the relevant January 1. A signed purchase contract or a planned move is not the same as an established homestead. Confirm the dates with the appraiser before relying on a tax estimate.
How to calculate portability when moving up or down in value
For a straightforward move by the same eligible owner, begin with the previous property’s just value and assessed value. Use the relevant assessment records, not a listing estimate. For the 2027 tax roll onward, the amended statute specifies the prior homestead values as of January 1 of the abandonment year. Confirm the applicable tax-roll year with the appraiser before selecting the old values. Shared ownership and other special circumstances can change the calculation.
Moving to a home of equal or greater just value
The general calculation transfers the smaller of the old assessment difference or $500,000. Subtract the allowed transfer from the new home’s just value to calculate its initial assessed value before exemptions. Section 193.155(8)(a) sets out this method.
Moving to a home of lower just value
Under section 193.155(8)(b), the new assessed value is generally the new just value divided by the previous just value, multiplied by the previous assessed value. The resulting reduction cannot exceed $500,000. An equivalent calculation multiplies the old assessment difference by the ratio of new to old just value, then applies the cap.
Downsizing benefit = old assessment difference × (new just value ÷ old just value), subject to the applicable $500,000 limit. The Miami-Dade calculation examples illustrate the same distinction.
MFR analysis: one former home, two possible moves
Assume the previous home has a $600,000 just value and a $350,000 assessed value. Its assessment difference is $250,000. The following examples assume full eligibility, no ownership allocation and sufficient taxable value for the illustrated tax effect.
| Measure | Higher-value home | Lower-value home |
|---|---|---|
| New just value | $800,000 | $400,000 |
| Transfer calculation | $250,000 full difference | $250,000 × $400,000 ÷ $600,000 |
| Transferred benefit | $250,000 | $166,666.67 |
| New assessed value | $550,000 | $233,333.33 |
| Illustrative tax reduction at 20 mills | $5,000 annually | $3,333.33 annually |
Method: 20 mills equals $20 per $1,000 of taxable value, or 2%. Multiply the assessment reduction by 0.020. This is the difference between a qualifying portability assessment and a hypothetical assessment without portability on the same new home, holding rates and exemptions constant. It is not a comparison with the old home’s tax bill.
The lower-value purchase preserves less of the assessment difference but produces a lower assessed value. A buyer evaluating affordability should compare the complete annual costs of each property, rather than select a home solely to retain the largest portability amount.
For another sensitivity check, each $100,000 of usable assessment reduction represents approximately $1,500 at 15 mills, $2,000 at 20 mills or $2,500 at 25 mills. Those are assumed rates, not quoted Miami-Dade millage. Exemptions that already eliminate taxable value can reduce the incremental benefit.
How to apply using Form DR-501T
The official DR-501T application asks for both properties’ addresses, parcel identifiers and counties, the date the former property was sold or ceased to be the homestead, and information about co-owners. It accompanies the original homestead application.
- Confirm the prior record. Locate the former home’s parcel number, homestead history and relevant just and assessed values.
- Confirm the new homestead year. Ask the new county’s property appraiser which January 1 qualification date applies.
- Complete the applications. Submit the homestead exemption application and DR-501T through the county’s accepted process. Co-applicants transferring from different homesteads need separate transfer forms.
- Explain ownership differences. Identify former owners who are not moving with the applicant, and disclose whether anyone stayed in the previous homestead.
- Retain confirmation. Keep the submission receipt, a copy of the application and subsequent correspondence. Confirm approval rather than assuming submission completed the transfer.
For an intercounty move, the new county’s office requests assessment information from the former county. The homeowner should still follow up if the transfer is absent from the assessment notice. MFR’s guide to Miami-Dade TRIM notices explains where the valuation and exemption review fits into the annual tax cycle.
What if the March 1 application deadline was missed?
A missed filing date and a failure to establish a new homestead on time are different problems. Do not assume that every late application is hopeless, or that every missed qualification date can be cured.
Section 193.155(8)(j) provides a late-application and Value Adjustment Board petition route for qualified applicants. It includes a petition deadline tied to the mailing of the assessment notice and a requirement to demonstrate particular extenuating circumstances. Contact the property appraiser promptly and follow the deadline on the applicable notice.
Subsection (8)(k) separately allows a qualified person who missed filing for the new homestead in the first year following eligibility to apply in a subsequent year. Under that provision, the reduction is applied in the year first approved, without refunds for previous years. It does not eliminate the underlying eligibility requirements.
Joint owners, spouses and separate former homesteads
The simple examples above assume one intact ownership situation. Section 193.155(8)(c) through (f) addresses combinations and divisions of benefits. When owners from separate homesteads establish one new homestead, benefits are not simply added together. When former co-owners establish separate new homesteads, ownership shares and the aggregate limit matter.
Spouses abandoning jointly titled property may designate shares through the prescribed process. The statute requires them to be married when the property is abandoned and makes a filed designation irrevocable. These are situations to resolve with the appraiser and legal adviser before relying on a full transfer in a purchase budget.
Why the next tax bill can still be higher
Portability reduces the assessment relative to what it otherwise would be. It does not promise a lower bill than the household paid at its previous address. A more valuable home, different taxing districts or changing millage can offset part of the benefit. Non-ad valorem charges require a separate review.
A complete move budget should also include insurance, association dues, maintenance and financing costs. For a condominium purchase, review MFR’s Florida condo due-diligence checklist and analysis of Miami condo HOA fees. A favorable property-tax estimate cannot absorb an unbudgeted building assessment.
Keep current portability separate from the proposed Florida property-tax amendment. This guide addresses an existing benefit, rather than assuming a ballot proposal has become law.
Frequently asked questions
Can Florida homestead portability move between counties?
Yes. Eligible homeowners can transfer a Save Our Homes assessment difference between Florida counties. Apply through the property appraiser for the new homestead; the two county offices coordinate the prior assessment information.
Can a homeowner rent between selling and buying?
A rental period does not by itself rule out portability. The new homestead must still be established within the applicable assessment-year window. Renting does not restart that window.
Does portability transfer the seller’s low tax bill?
No. A buyer may qualify to transfer a benefit from the buyer’s own previous Florida homestead. The seller’s assessment history is not a tax estimate for the buyer.
Does moving to a smaller home preserve the full benefit?
Not necessarily. When the new property’s just value is lower, the assessment difference is proportionally reduced, subject to the $500,000 maximum. The comparison uses appraiser values, not bedrooms or square footage.
Is the portability application required every year?
DR-501T is an application to transfer the assessment difference to a new homestead. It is not an annual request to move the same benefit again. Maintain homestead eligibility and report relevant changes to the property appraiser.
Is portability dependent on Florida’s 2026 property-tax amendment?
No. Portability is an existing assessment-transfer mechanism. The proposed 2026 amendment is a separate policy question. A move should be evaluated under the applicable portability and exemption rules, without treating proposed tax changes as approved law.
Sources and calculation methodology
MFR checked the following primary sources on October 6, 2026. The dollar scenarios are MFR calculations, not county tax quotes. They isolate the assessment effect and exclude changes in exemptions, millage, ownership shares and non-ad valorem charges. The statutory text notes that its 2026 amendments to the valuation provisions first apply to the 2027 tax roll; owners filing for a particular year should confirm that year’s treatment with the appraiser.
- Florida Statutes, section 193.155, particularly subsection (8)
- Florida Department of Revenue: Save Our Homes and portability
- Florida Department of Revenue: Form DR-501T
- Miami-Dade Property Appraiser: portability requirements
- Miami-Dade Property Appraiser: portability calculations
Miami Finance Review provides independent financial reporting and analysis. This article is informational and is not individualized legal or tax advice. The county property appraiser determines eligibility and the assessment transfer.
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Miami Finance Review produces independent editorial analysis. Figures are attributed to their sources and independently cross-checked where possible. This content is informational and is not investment, legal, tax or lending advice.
