Homestead Portability

What is Portability?

Portability in Florida refers to the ability of a property owner to transfer some or all of the Save Our Homes benefit on a previous homestead to a newly established homestead. The law was passed as a constitutional amendment in January 2008. The Save Our Homes benefit is the difference between the market (or just) value and assessed value. State law allows you to transfer your Save Our Homes benefit to a new home if you claimed the Homestead Exemption in either of the three preceding tax years.

Important Points to Consider:

To transfer your assessment difference you must have received a homestead exemption on the previous Florida homestead property in either of the three preceding tax years and must be an owner of the new Florida homestead property.
If you and your spouse (or former spouse) would like to designate shares of the homestead assessment difference then you must file a DR-501TS DESIGNATION OF OWNERSHIP SHARES form before you file your portability application.
To transfer your assessment difference you must have established a new homestead on or before January 1 within three tax years after abandoning your previous homestead.
You should file for Portability at the same time you apply for the new homestead exemption. Applications should be filed by March 1. You can file in either of our office locations or online.
The amount is either transferred in its entirety or as a percentage depending on the value of the new property. The maximum transfer amount is $500,000.