One of the biggest financial perks of owning a home in Florida is the Homestead Exemption. If you make your South Florida property your primary residence, you can save thousands each year in property taxes.
What Is the Florida Homestead Exemption?
The Homestead Exemption allows homeowners to deduct up to $50,000 from the assessed value of their property, reducing taxable value and lowering annual tax bills.
Additional Benefits:
- Save Our Homes Cap: Your home’s assessed value cannot increase more than 3% per year, even if the market value rises much higher.
- Portability: You can transfer savings from one Florida home to another.
How Much Can You Save?
For example, if your home is assessed at $350,000, the Homestead Exemption could reduce your taxable value to $300,000, saving you hundreds to thousands each year depending on your tax rate.
👉 Our team guides every buyer through filing for the Homestead Exemption to ensure they maximize savings.