What Is the Save Our Homes Benefit?
Save Our Homes caps how much a homestead's assessed value can rise each year. Under Florida Statutes 193.155, the annual increase is limited to 3 percent or the change in the Consumer Price Index, whichever is lower. Over time, a gap can grow between market (just) value and assessed value. That gap is the benefit portability lets you carry to a new home.
The homestead exemption itself does not transfer. The Department of Revenue explains that you apply for a new exemption on the new home, and the assessment difference is what moves.
Who Qualifies for Portability?
- You had a Florida homestead as of January 1 in any of the 3 years before the year you establish the new homestead (193.155(8)).
- You establish a new Florida homestead and file for homestead exemption on it.
- Moving between counties is allowed. A move from a Lake homestead to a Sumter or Marion homestead still qualifies.
- Out-of-state homes do not count. Portability only transfers a Florida Save Our Homes benefit.
How Much Can You Transfer?
- Buying a home with a higher just value: you can transfer the full difference between just value and assessed value of the old homestead, up to $500,000.
- Buying a home with a lower just value: a proportional formula applies, based on the percentage of the old home's just value that was sheltered. The transfer is still capped at $500,000.
The property appraiser does the math. The Department of Revenue brochure PT-112 walks through how the calculation works.
How Do You File Form DR-501T?
Attach Form DR-501T to your homestead application (Form DR-501) and file both with the property appraiser in the new home's county by March 1.
- Co-owners: if co-owners are coming from different homesteads, each files a separate DR-501T.
- Cross-county moves: the new county sends a request to the old county. The form says the old county's appraiser returns its information (Form DR-501RVSH) by April 1 or within 2 weeks of receiving the request, whichever is later.
- Old home not yet sold: under 193.155(8)(g), you can abandon the old homestead in writing so the benefit can move.
County pages: Lake (portability questions: 352-253-2150), Sumter, and Marion.
What If You Miss March 1?
- Late petition: under 193.155(8)(j), you may petition the value adjustment board by the 25th day after the notice of proposed property taxes (TRIM notice) is mailed, showing extenuating circumstances. The statute sets a $15 filing fee.
- Later year: under 193.155(8)(k), you may apply in a later year if you are still within the 3-year window, but you do not get refunds for earlier years.
Are Any Rules Changing?
Chapter 2026-239, Laws of Florida, amended 193.155(8)(a) and (b) to say "prior homestead" instead of "immediate prior homestead," starting with the 2027 tax roll. Ask your property appraiser how this affects your situation.
Note: Amendment 3 is on the Nov 3, 2026 ballot and may change these figures. If approved, it would change homestead exemption amounts starting with 2027. Ask the property appraiser whether Amendment 3 would change how a portability transfer is valued.