Home appraisal services Forms for Broward
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FAQ
All legal Florida residents are eligible for a Homestead Exemption on their homes, condominiums, co-op apartments, and certain mobile home lots if they qualify. The Florida Constitution provides this tax-saving exemption on the first and third $25,000 of the assessed value of an owner/occupied residence.
If you electronically file your 2021 federal and Wisconsin income tax returns, you can file your homestead credit claim electronically with these tax returns.
THE HOMESTEAD EXEMPTION In the state of Florida, a $25,000 exemption is applied to the first $50,000 of your property's assessed value if your property is your permanent residence and you owned the property on January 1 of the tax year. This exemption applies to all taxes, including school district taxes.
If you are eligible, portability allows most Florida homestead owners to transfer their SOH benefit from their old homestead to a new homestead, lowering the tax assessment and, consequently, the taxes for the new homestead.
Portability is the difference between the Property Appraiser's Just Value of a property and the Save Our Homes value of that property. Portability allows you to transfer up to $500,000 of your property's actual 3% assessment cap to your new property anywhere in Florida.
How does portability work? If your new residence has a higher market value than your former residence, the portability amount is determined by subtracting the assessed value of the former home from its market value.