Homestead & Save Our Homes: Lower Your Tampa Property Taxes + Portability
If you’re making Tampa your primary residence, Florida’s Homestead Exemption and the Save Our Homes (SOH) assessment cap can meaningfully reduce—and stabilize—your Tampa property taxes for years. Even better, if you later move within Florida, you may be able to port your tax savings to the next home. Here’s how to lock it all in.
1) What the Florida Homestead Exemption does
Cuts your taxable value. Most owners receive up to $50,000 in exemptions on their primary residence, lowering the bill you pay—not just this year, but every year you remain homesteaded.
Establishes your Florida domicile. Filing a homestead is one of the clearest signals that Florida is your primary home (great for residency/tax alignment).
Triggers Save Our Homes protection. Once your homestead is approved, the SOH cap kicks in (next section).
Eligibility basics:
You must own and occupy the home as your primary residence on January 1 of the tax year and apply by March 1 with the county property appraiser (Hillsborough, Pinellas, Pasco, etc.). Most counties let you apply online; have your Florida driver's license, voter registration (if applicable), and the property address handy.
2) Save Our Homes (SOH): your shield against rising assessments
What it caps: After homestead is in place, the assessed value of your home can rise by no more than 3% or CPI—whichever is lower—per year.
Why it matters: In appreciating neighborhoods, market value can jump much faster than your assessed value, so your tax bill grows predictably instead of spiking.
Key point: SOH protects you as the current homesteaded owner. When a buyer purchases the home, the assessed value typically “resets” and their tax bill reflects their market purchase—unless they bring portability (next).
3) Portability: take your tax savings with you
When you sell one Florida homestead and buy another Florida primary residence, you can transfer (port) part of your SOH benefit—called the “assessment difference”—to your next home.
How much you can port: Up to $500,000 of the difference between market value and capped assessed value.
Deadline: You generally have up to three tax years to use portability after you abandon/sell your prior homestead.
Within or across counties: Works both ways; forms differ slightly, but the concept is the same.
Pro tip: If you’re moving to a less expensive home, portability is prorated; if you’re moving up, you can often bring the full eligible amount (subject to the $500k cap). File the portability application when you apply for the new homestead.
4) How—and when—to file (the quick checklist)
Buy and move in by January 1 of the tax year you want benefits.
Apply with your county property appraiser by March 1 for the Florida Homestead Exemption (many counties accept late filings with good cause—ask if you’re after March 1).
Portability: If you held a prior Florida homestead, submit the portability application at the same time as your new homestead application.
Keep it current: If you refinance or change ownership (e.g., add a spouse or trust), confirm nothing jeopardizes your homestead status.
5) Common mistakes (and easy fixes)
Using last year’s tax bill to budget. The seller’s bill may be artificially low due to their SOH cap. Always ask your agent to model post-sale taxes for you.
Missing March 1. Don’t wait. Apply as soon as you’ve established residency; some counties allow online pre-filing for the next tax year.
Turning your homestead into a full-time rental. That’s generally an abandonment of the homestead for tax purposes; talk to the property appraiser before you list.
Not filing portability. If you earned SOH benefits at your last Florida home, don’t leave money on the table—port them to the new one.
6) Special situations you should ask about
Trusts: Title can be in a qualifying revocable trust and still receive homestead; verify the trust language with the appraiser’s office or your attorney.
Married couples with multiple properties: Only one Florida homestead per family unit—plan accordingly.
New construction: Your first full-year assessment often recalculates when the home is complete; budget for that “first full bill.” Then file the homestead to start SOH going forward.
7) Your action plan (in 60 seconds)
If Tampa will be your primary home, apply for Homestead the moment you qualify.
Ask your agent to estimate your first-year Tampa property taxes (post-sale) and model year-two with SOH protection.
If you’re moving from one Florida home to another, file portability with your new homestead application to lock in your savings.
Keep records of residency steps (driver's license, voter registration, vehicles, banking)—a clean Florida domicile makes everything easier.
Want help estimating your tax bill and portability?
I’ll run a custom estimate of your post-sale Tampa property taxes, help you time the Florida Homestead Exemption filing, and calculate Save Our Homes portability before you make an offer—so your true monthly is accurate from day one.
Contact Fernanda Stucken — Tampa Bay Realtor
📧 contact@fernandastucken.com | 📞 (347) 216-6620
Keywords: florida homestead exemption, save our homes portability, tampa property taxes, florida domicile