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homestead portability

Have you taken advantage of the Homestead Portability tax exemption?

In Florida, the Save Our Homes Amendment to the Florida Constitution prevents the assessed value of homestead property from increasing more than 3% per year, or the percent change in the Consumer Price Index, whichever is lower. 

THE FLORIDA HOMESTEAD EXEMPTION ─ GENERALLY

Homestead exemptions are only available on an individual’s primary home. This exemption does not apply to businesses, rental property, second homes, homeowners claiming permanent residency-based exemptions or tax credits in other states, or homes with owners that do not claim Florida as their primary residence.