Florida Homestead Exemption: How to Lower Your Property Taxes

If a Florida home is your permanent residence, the homestead exemption is one of the most valuable benefits you can claim — it lowers your taxable value and caps how fast your assessment can rise. Here is how it works for Volusia and Flagler homeowners.

The exemption: up to $50,000 off your assessed value

A qualifying Florida homestead receives up to $50,000 in exemptions: a first $25,000 that applies to all property taxes, and an additional $25,000 on assessed value between $50,000 and $75,000 that applies to non-school taxes. That directly lowers the value your taxes are calculated on.

Save Our Homes: the 3% assessment cap

Once homesteaded, Florida's Save Our Homes provision caps how much your assessed value can increase to 3% per year (or the change in CPI, whichever is lower) — even if market values jump. Over time, this can save you significantly as values rise.

Portability: take your savings with you

If you sell and buy another Florida homestead, portability lets you transfer your accumulated Save Our Homes benefit (up to $500,000) to the new home — so you don't start over. This is a big deal when moving within Florida.

How to claim it

You must own the home and make it your permanent residence as of January 1, and file with your county property appraiser (generally by March 1). It does not happen automatically. Buying or selling soon? Talk to us and we'll make sure homestead is on your radar.

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Frequently asked questions

How much is the Florida homestead exemption?

Up to $50,000 — a $25,000 exemption that applies to all taxes, plus an additional $25,000 on assessed value between $50,000 and $75,000 that applies to non-school taxes.

What is the Save Our Homes cap?

Once your home is homesteaded, your assessed value can rise no more than 3% per year (or the CPI change, if lower), protecting you from large tax increases as market values climb.

Can I transfer my homestead savings to a new home?

Yes — Florida's portability lets you transfer your accumulated Save Our Homes benefit (up to $500,000) to a new Florida homestead, so you keep your tax savings when you move within the state.

When do I have to file for homestead?

You must own and occupy the home as your permanent residence by January 1 and file with your county property appraiser, generally by March 1. It is not automatic.

Keep reading: How Much Does It Cost to Sell a House in Florida? · Buying a Beachside Home in Volusia County: What to Know · A First-Time Home Buyer's Guide to Volusia & Flagler County · All insights →

About the author — Arthur Simpson

Arthur is a Florida attorney, licensed real estate broker, and Certified International Property Specialist (CIPS), and a member of the Real Property and International Law Sections of The Florida Bar. He founded Simpson & Simpson Realty to give Volusia & Flagler families — and buyers from around the world — a brokerage with a real estate attorney's eye on every deal. Meet Arthur & the family →