Thinking about how to lower your Tampa Bay property taxes without guesswork? If you own and live in your home as your primary residence, Florida’s homestead rules can save you money now and protect you over time. Many new owners overlook simple steps or miss key deadlines.
In this guide, you’ll learn the basics of Florida’s homestead exemption, the Save Our Homes cap, and portability, plus who qualifies, when to file, and what to prepare. You’ll also get county-level tips for Hillsborough, Pinellas, and Pasco so you can file with confidence. Let’s dive in.
What the homestead is
Florida’s homestead exemption reduces the taxable assessed value of your primary residence. It is administered by each county property appraiser under state law and the Florida Constitution.
- The exemption can lower assessed value by up to $50,000 in total.
- The first $25,000 generally applies to the full assessed value for all taxing authorities, including school taxes.
- The additional up to $25,000 applies only to assessed value between $50,000 and $75,000 and generally does not apply to school taxes.
Homestead also connects to the Save Our Homes assessment cap, which can limit how fast your assessed value increases each year.
Save Our Homes basics
The Save Our Homes (SOH) cap limits annual increases in assessed value for a homesteaded property to the lesser of 3% or the change in the Consumer Price Index. Over time, this can create a meaningful gap between your market value and your assessed value.
- That gap is often called your SOH benefit.
- You may be able to move this benefit to a new Florida homestead using portability, which can lower the assessed value on your next home.
Who qualifies
To qualify for homestead, you generally need to:
- Own the property.
- Use it as your permanent, primary residence as of the assessment date.
- Hold title as a natural person. Certain trusts and survivorship arrangements can qualify.
- Non-U.S. citizens can qualify if ownership and residency requirements are met.
Once approved, your exemption usually auto-renews each year while you remain eligible.
Key dates and deadlines
- Assessment date: January 1. You must own and occupy as your primary residence on this date to qualify for that year.
- Filing deadline: March 1 for that tax year in most cases.
Common scenarios:
- If you buy and move in on or before January 1, apply by March 1 for that year.
- If you buy after January 1, you typically apply by the next March 1 for the following tax year.
What to prepare
Counties may ask for a combination of the following:
- Recorded deed or closing statement showing ownership.
- Florida driver’s license or state ID with your property address.
- Florida vehicle and/or voter registration with the property address, if required.
- Social Security numbers for each owner.
- Date of occupancy or utility bill showing move-in.
- Completed homestead application and, if applicable, the portability form.
Portability explained
Portability lets you move some or all of your SOH benefit to a new Florida homestead, subject to statutory limits and county calculations.
How it works:
- When you sell or abandon your prior homestead and establish a new one, you can claim portability with your new county property appraiser.
- You’ll typically file the state homestead application (often referenced as DR-501) and the portability form (often referenced as DR-501T) together or at the same time.
- The portability claim is usually due by March 1 for the tax year you establish the new homestead.
Quick example:
- Prior home market value: $400,000
- Prior home assessed value with SOH: $300,000
- SOH benefit: $100,000
When you qualify for portability, some portion of that $100,000 benefit may reduce the assessed value of your new homestead. Exact amounts and caps are calculated by the county based on law.
Tampa Bay filing: where to start
Each county property appraiser processes applications, answers questions, and provides online portals or forms:
- Hillsborough County Property Appraiser: search “Hillsborough County Property Appraiser homestead exemption.”
- Pinellas County Property Appraiser: search “Pinellas County Property Appraiser homestead exemption.”
- Pasco County Property Appraiser: search “Pasco County Property Appraiser homestead exemption.”
These offices post current instructions, required documents, and filing options for online, in person, or by mail.
Step-by-step filing
- Confirm eligibility
- You own and occupy as your primary residence on January 1.
- Your title and residency documents match your property address.
- Gather documents
- Deed or closing statement, Florida ID, vehicle and voter registration if required, Social Security numbers, and proof of occupancy.
- Complete forms
- Homestead application for your county.
- If moving within Florida, add the portability form with details about your prior homestead.
- File by March 1
- Use your county’s online portal if available, or submit in person or by mail. Keep copies of everything.
- Respond to follow-ups
- If the county requests more information or an interview, reply promptly to keep your application on track.
Buying and selling tips
If you’re buying in Tampa, St. Pete, Clearwater, Lutz, Wesley Chapel, or nearby:
- Closing before January 1 means you can likely file for that year by March 1.
- Closing after January 1 means you typically apply the following year.
If you’re selling and moving locally:
- Ask about portability timelines and documents as soon as you go under contract on the new home.
- Plan your move-in so you can establish the new homestead status on January 1 when possible.
Avoid common mistakes
- Missing the March 1 deadline.
- Having a Florida ID that does not match your homestead address.
- Forgetting Social Security numbers when required.
- Assuming the exemption transfers automatically to a buyer or to your new home.
- Keeping the property in an entity that does not qualify, like most LLCs.
- Waiting too long to claim portability after leaving your prior homestead.
Special ownership notes
Title matters for homestead eligibility. Ownership through most business entities does not qualify. Some trusts and survivorship arrangements can. If your ownership is complex, contact your county property appraiser to confirm what documents they need for your specific setup.
What this means for your budget
Homestead reduces assessed value, not the tax rate. Your actual tax savings depend on your local millage rates and any SOH benefit you build over time. The sooner you establish homestead on your primary residence, the sooner you can lock in the SOH cap and potential long-term savings.
Get local help
If you’re planning a move in Hillsborough, Pinellas, or Pasco, getting the timing and paperwork right can save you time and money. For guidance on purchase or sale timing, move-up planning, and how homestead and portability may factor into your next step, reach out to Khristian Marcotrigiano for local, responsive support.
FAQs
What is Florida’s homestead exemption?
- It reduces the taxable assessed value of your primary residence, with up to $50,000 in exemptions applied in two parts and administered by your county property appraiser.
How does Save Our Homes help me?
- It limits annual assessed value increases on a homesteaded property to the lesser of 3% or CPI, which can create long-term tax savings.
Who qualifies for homestead in Tampa Bay?
- You must own the home and use it as your primary residence on January 1, and hold title in a qualifying way as a natural person.
When is the filing deadline each year?
- March 1 is the typical deadline to apply for that tax year; late filings may not be accepted.
I closed after January 1. Can I file now?
- Usually no. You typically wait and file by the next March 1 for the following tax year.
What is portability and how do I claim it?
- Portability lets you transfer an accrued Save Our Homes benefit to a new Florida homestead, usually by filing the state portability form with your homestead application by March 1.
Do I have to reapply every year?
- No. Once approved, the exemption usually renews automatically while you remain eligible.
Can I homestead property held in an LLC?
- Most business entities do not qualify. Some trust or survivorship setups can. Check with your county property appraiser.
