Homestead Exemption & Save Our Homes
Property owners in Lee and Collier Counties (Sanibel, Captiva, Naples, Estero, Cape Coral, Fort Myers, Ft Myers Beach) may be eligible for exemptions and additional benefits that can reduce their property tax liability. The homestead exemption and Save Our Homes assessment limitation help thousands of Florida homeowners save money on their property taxes every year. Further benefits are available to property owners with disabilities, senior citizens, veterans and active duty military service members, disabled first responders, and properties with specialized uses.
Florida law requires that application be made by March 1st (late filed accepted and processed in accordance with current Florida law) to be eligible for up to a $50,000 Homestead Exemption. Only new applicants or those who had a change of residence need apply. Automatic renewals are mailed in January each year.
What is a homestead exemption?
Homestead Exemption is a constitutional benefit of up to a $50,000 exemption removed from the assessed value of your property. It is granted to those applicants who possess title to real property and are bona fide Florida residents living in the dwelling and making it their permanent home on January 1. Documentation that proves you were a resident at the homestead property is required.
What is "Save Our Homes"?
Save Our Homes" (SOH) approved by Florida voters in 1992, effective January 1, 1995. SOH places a limitation of 3% on annual assessment increases on homestead exempt property. For all property first granted homestead exemption in the prior year, that year’s assessed value will be the base value for the implementation of "Save Our Homes". Thereafter, the assessed value will not increase more than 3% or the percentage change in the Consumer Price Index, whichever is less. The property’s market value may differ from SOH assessed value. SOH assessed value will never be greater than market value.