"Save Our Homes" (Qualified Homestead Properties Only)
An amendment to the Florida Constitution (voted on and passed in November 1992, by approximately 54% of the voters in the State of Florida) was implemented in 1994 limiting the increases of the assessed value of a Qualifying Homestead Property to 3%, or the consumer price index (CPI),
whichever is less, from one year to the next. This cap only applies to real property qualifying and receiving a homestead exemption. This cap does not apply to new construction or previously non-assessed improvements made to the property the first
year that it is added to the tax roll.
The cap goes into effect the year following the granting of the homestead exemption. When a homesteaded property is sold or conveyed to a new owner, the assessed value then becomes the full market value. If the new owner applies and receives a homestead
exemption then the process starts all over.
Homestead Brochure (126KB)
Non-Homestead Property 10% Cap
Since 2009, non-homesteaded properties are eligible for a 10% cap on annual assessment increases. No application is required. This cap does not apply to the School Board portion of property taxes.