This online tool helps Florida homeowners estimate the transferable portion of their Save Our Homes (SOH) assessment limitation when they move to a new home within the state. For example, a homeowner selling a property with a significantly lower assessed value than its market value due to the SOH benefit can potentially apply a portion of that difference to reduce the taxable value of their new home.
Maintaining property tax savings through this transfer can significantly impact housing affordability for Florida residents. Established as part of Amendment 10 in 1992, the Save Our Homes cap limits the annual increase of assessed property values, resulting in lower property taxes. The portability provision, enacted in 2008 through Amendment 1, allows homeowners to transfer this accrued benefit, facilitating moves within the state without losing a substantial portion of their tax savings. This process encourages homeownership mobility and provides financial relief for homeowners relocating within Florida.
