What is Save Our Homes in Florida?

Save Our Homes is a Florida constitutional amendment that limits annual increases in assessed value for homestead properties to 3% or the CPI, whichever is lower. It creates significant tax savings for long-term homeowners.

Can I transfer my Florida property tax savings when I move?

Yes, Florida allows portability of up to $500,000 in Save Our Homes benefit. You can transfer this accumulated tax savings to a new Florida home within 3 years of selling your previous home.

Do I need to reapply for homestead exemption every year in Florida?

No, once approved, your Florida homestead exemption renews automatically each year as long as you continue to own and occupy the property as your primary residence.

Rob Hartley

Founder, AppealDesk · February 26, 2026

Florida Save Our Homes property tax cap explanation

AppealDesk

How Much Can Property Taxes Increase in Florida?

Q: What is Florida's property tax increase cap?

Florida caps property tax assessment increases at 3% or the Consumer Price Index (whichever is lower) for homestead properties, and 10% for non-homestead properties.

In Florida, property tax increases are capped at 3% or the Consumer Price Index (whichever is lower) for homesteaded properties, and 10% annually for non-homestead properties. These caps protect Florida homeowners from runaway assessment increases through the Save Our Homes amendment.

Quick Answer

Homestead properties: 3% or CPI cap (whichever is lower)
Non-homestead properties: 10% annual cap
Save Our Homes benefit: Can transfer up to $500,000 in savings when you move
Recapture rule: Assessment jumps to market value when sold

The 3% Homestead Cap (Save Our Homes)

Florida's Save Our Homes amendment, passed in 1992, limits annual assessment increases on homestead property to 3% or the Consumer Price Index (CPI), whichever is lower. This creates a "capped value" that can be significantly lower than market value in hot real estate markets.

For example, if your home's assessed value was $300,000 last year and the CPI was 2.5%, your assessed value can only increase to $307,500 this year—even if similar homes are selling for $400,000.

Non-Homestead Properties: The 10% Cap

Investment properties, vacation homes, and commercial properties face a more generous 10% annual cap on assessment increases. This applies to all non-homestead properties regardless of value.

Portability: Taking Your Savings With You

Florida allows homeowners to transfer up to $500,000 of their Save Our Homes benefit to a new home. This "portability" helps long-time residents afford to move without losing years of accumulated tax savings.

Important Deadlines

File for homestead exemption by March 1st
Appeal your assessment within 25 days of receiving your TRIM notice
Transfer portability within 3 years of selling your previous home

The Recapture Problem

When you sell your Florida home, the buyer faces "recapture"—the assessed value immediately jumps to full market value. This can double or triple property taxes overnight for the new owner.

Should You Appeal?

Even with Florida's caps, appealing can still save money by lowering your base assessment. A successful appeal compounds savings year after year as the cap applies to a lower starting point. Professional evidence packets help win these appeals.

Check If You're Still Overpaying

Florida's caps help, but they don't eliminate overassessments. See if your property is still valued too high compared to similar homes.

Check My Property Now →

Last updated: February 2026. Source: Florida Department of Revenue, Florida Statutes Chapter 193.