From Palm Beach County Property Appraiser

We are happy to provide you with this Portability application. Residential property owners with a qualified Homestead Exemption can transfer all or a significant portion of their "Save Our Homes" benefit to their new property. Portability allows you to transfer up to $500,000 of your property’s actual 3% assessment cap to your new property anywhere in Florida.

If you are considering a move, you can calculate the Portability benefit online. Using the Property Record Search button on our Home Page, search for the property you are selling. Use the Calculate Portability button to begin. The market and assessed values of your current homesteaded property are displayed. Enter the market value of your new property and use the Calculate button. The new assessed value and your Portability benefit are displayed.

Keep in mind there are no changes to the existing assessment cap benefit under Florida’s Save Our Homes provisions. Apply for Portability when you apply for Homestead Exemption on your new property.

Contact our Portability expert at (561) 355-4091 for more information.

Please mail completed application to:

Property Appraiser's Office
301 N. Olive Ave., 5th Floor
West Palm Beach, FL 33401

 

 

From Martin County Property Appraiser:

PORTABILITY (Transfer of Homestead Assessment Difference)

In January, 2008, voters approved a constitutional amendment which allows portability of accumulated “Save Our Homes” (SOH) benefits for homeowners who move from one homestead to another, anywhere in Florida. Note: The SOH benefit is the difference between a property’s market value for tax purposes and its assessed value that’s been limited from increasing.

  • When you move, you have from January 1st of the year you move, until January 1st two years later, to re-establish homestead and retain the SOH benefit. For example, if you sell or move from your homestead property in September of 2013, you have until January 1, 2015 to move in and reestablish your homestead on a different property in Florida in order to retain the SOH benefit.
  • If “upsizing” Click here for homestead portability examples to a home of equal or greater market value, the homestead owner can transfer 100% of the SOH benefit to the new homestead, up to a $500,000 transferred benefit.
  • If “downsizing”  Click here for homestead portability examples to a home of lower market value, the homestead owner can transfer a SOH benefit that protects the same percentage of value as it did the former homestead, up to a $500,000 transferred benefit.

To receive the benefit, you must apply for both the homestead exemption and the transfer of the SOH benefit by March 1 of the tax year. If you missed the March 1st filing deadline, contact our office at 772-288-5608 for information on how to late file for your exemption and SOH benefit.

If you are eligible, please download the DR-501T form, Transfer of Homestead Assessment Difference. Complete the form DR-501T and include the completed form with your homestead exemption application.

Download forms here:  https://www.pa.martin.fl.us/tools/forms-and-applications

Please complete, sign and date your homestead exemption application, and return it to the Martin County Property Appraiser's office:

Martin County Property Appraiser    (772) 288-5608
ATTN: Homestead Department
1111 SE Federal Highway, Suite 330
Stuart, FL 34994