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TAX APPEALS

Portability, Homestead, and Tax Reduction

Florida Property Tax Appeal Process

If you believe your property tax assessment is too high, Florida law allows you to appeal the valuation to potentially lower your property taxes. The process involves a review of your assessed value and filing a challenge when it makes sense.

Each year, the county property appraiser sends a Notice of Proposed Property Taxes (TRIM Notice) around August. The deadline to file your adjustment is just 25 days after the date of the TRIM notice.

CastleWise can file the appeal on your behalf and gather the appropriate evidence to appeal your assessed or just value. Typically, we are able to come to an agreement during an informal review, but occasionally the case may go to hearing with the Value Adjustment Board, which we also handle.

Homestead Exemption Explained

The Florida Homestead Exemption is a property tax benefit that allows homeowners to reduce the taxable value of their primary residence, potentially saving thousands of dollars in property taxes each year.

Key Benefits of the Florida Homestead Exemption:

  • Property Tax Reduction – Homeowners can receive up to a $50,000 exemption on their primary residence, lowering their property tax burden.
  • Cap on Property Value Increases – The Save Our Homes (SOH) Cap limits the annual increase in assessed home value to 3% or the rate of inflation, whichever is lower.

How Does the Homestead Exemption Work?

  • The first $25,000 of a home’s assessed value is exempt from all property taxes.
  • The second $25,000 applies to non-school property taxes for homes valued over $50,000.
  • Additional exemptions may be available for seniors, disabled persons, veterans, and first responders.

To qualify, you must: Be a Florida resident, own and occupy the property as your primary residence as of January 1st of the tax year, apply by March 1st of the year you’re seeking the exemption.

Portability Explained

Portability in Florida refers to the ability of homeowners to transfer their Save Our Homes (SOH) tax benefit from one homestead property to another when moving within the state. This benefit helps lower property taxes on a new home by carrying over the accumulated savings from the previous home’s assessed value.

The Save Our Homes (SOH) Cap limits annual increases in a homestead property’s assessed value to 3% or the rate of inflation (whichever is lower). Over time, this creates a gap between the market value and the assessed value, known as the homestead savings (or SOH benefit).

When a homeowner sells their property and buys a new primary residence in Florida, they can transfer up to $500,000 of their accumulated SOH benefit to reduce the taxable value of the new home.

In order to qualify, you must have had a homestead exemption on your previous Florida home. You must establish a new homestead exemption on your new home within three years of selling the previous one. The new home must be located in Florida.

Important: Portability is not automatic—you must apply for it when filing for a new homestead exemption. CastleWise can handle this process for you.

Contact CastleWise to discuss your tax appeal.