Florida Property Tax 2026: Homestead Exemption and SOH

Florida property tax is one of the most important — and least understood — costs of owning real estate in the state. Florida has no state income tax, but it makes up much of that revenue through property taxes. The statewide effective rate is about 0.91% of assessed value, but the real number on your tax bill depends on three things: your county, whether you have homestead exemption, and how long you have owned the property under the Save Our Homes cap.

This guide explains how Florida property tax works in 2026, the homestead exemption that saves homeowners $750+ a year, the Save Our Homes 3% cap that builds long-term tax savings, the portability rules, and the 7 mistakes that cost Florida homeowners thousands.

How Florida property tax works

Florida property tax is calculated by multiplying your home’s assessed value by your county’s millage rate (expressed as dollars per $1,000 of assessed value).

The annual cycle:

1. January 1 — county property appraiser determines the just (market) value of your home
2. Spring — Notice of Proposed Property Taxes (“TRIM notice”) arrives in your mailbox
3. September — public hearings on millage rates
4. November — annual tax bills issued with discount schedule
5. March 31 — final deadline to pay without penalty

Pay early to save: 4% off if paid in November, 3% in December, 2% in January, 1% in February, full amount in March.

Florida property tax rates by county (2026)

County	Effective rate	Median tax on $300k home
Walton	0.63%	$1,890
Monroe (Keys)	0.65%	$1,950
Sarasota	0.75%	$2,250
Collier (Naples)	0.78%	$2,340
Citrus	0.82%	$2,460
Statewide average	0.91%	$2,730
Orange (Orlando)	0.96%	$2,880
Hillsborough (Tampa)	1.04%	$3,120
Miami-Dade	1.02%	$3,060
Broward	1.10%	$3,300
Alachua (Gainesville)	1.10%	$3,300

These are effective rates including school district, county, city, and special taxing district millages combined.

Florida homestead exemption

The homestead exemption is the single most valuable tax break for Florida residents. If your home is your permanent legal residence on January 1, you can claim:

• $25,000 exemption from all property tax (school + non-school)
• Additional $25,000 exemption from non-school taxes only (for assessed values above $50,000)
• Total: $50,000 off your taxable value
• Average annual savings: ~$750 statewide
• Save Our Homes cap activates (next section)
• Asset protection from creditors under Florida law

How to claim:

1. Move into the home as your primary residence
2. Establish Florida residency (driver’s license, voter registration, etc)
3. Apply with your county property appraiser between January 1 and March 1
4. One-time application — exemption renews automatically each year

Save Our Homes 3% cap

Once you have homestead exemption, the Save Our Homes (SOH) cap kicks in. SOH limits the increase in your home’s assessed value to 3% per year (or the rate of inflation, whichever is lower) — no matter how much the market value rises.

Example: a home worth $300,000 in 2020 with SOH cap could grow in market value to $450,000 by 2026, but your assessed value (and tax bill) is limited to about $338,000 (3% compounded for 5 years). You save tax on $112,000 of “uncapped” market appreciation.

This is why Florida homeowners who have owned for 10+ years pay far less property tax than new buyers in the same neighborhood.

Portability — moving Save Our Homes savings

If you sell your homesteaded Florida home and buy another Florida home as your new primary residence, you can port your accumulated SOH savings to the new property. Up to $500,000 of cap savings can be transferred.

How portability works:

1. You sell your old home with $112,000 in SOH cap savings (assessed value $112,000 below market value)
2. You buy a new home for $500,000 with a market value of $500,000
3. You apply for portability with your new county property appraiser
4. Your new home’s assessed value is reduced by the ported amount (up to $500,000 cap)
5. You pay tax on the lower assessed value

You have 3 years from the sale of the old home to apply for portability on the new home. Miss the deadline and the savings are gone forever.

Additional Florida property tax exemptions

• Senior exemption (65+): Additional $50,000 exemption in counties that adopted it. Income-tested.
• Widow/widower exemption: $5,000 additional exemption.
• Disability exemption: $5,000 additional, totally disabled, or full exemption for permanent disabilities.
• Veteran exemption: $5,000 additional for combat-disabled veterans; full exemption for 100% service-connected disabled veterans.
• Active duty deployed: Exemption for the portion of the year deployed overseas.
• Renewable energy: Solar panels and renewable energy improvements are excluded from assessed value.

How to appeal your property tax assessment

If you believe your assessed value is wrong (too high), you have the right to challenge it:

1. Receive TRIM notice in spring/summer
2. Compare to recent comparable sales in your neighborhood. Pull 3-5 comps from Zillow, Realtor.com, or county sales records.
3. Informal review with the county property appraiser’s office. Free and often resolves the issue.
4. File a petition with the Value Adjustment Board (VAB) — small filing fee (typically $15)
5. VAB hearing with a special magistrate. Bring comps, photos, evidence of property condition issues.
6. Appeal to circuit court if you lose at VAB (rare)

About 30% of Florida appeals succeed in lowering the assessment. Even a 10% reduction on a $400,000 home saves $360+ a year in tax.

Frequently asked questions

How much is property tax in Florida?

The statewide effective rate is about 0.91% of assessed value. The median tax bill on a $300,000 home is about $2,730 a year. Rates vary by county from 0.63% (Walton) to 1.10% (Broward, Alachua).

What is the Florida homestead exemption?

If your home is your permanent residence on January 1, you can claim a $50,000 exemption from your taxable value, saving about $750 a year on average. Apply with your county property appraiser between January 1 and March 1.

What is Save Our Homes in Florida?

A constitutional cap that limits the annual increase in your homesteaded property’s assessed value to 3% per year (or the inflation rate, whichever is lower). Long-time homeowners pay much less property tax than new buyers in the same neighborhood.

Can I move my Save Our Homes savings to a new home?

Yes — Florida portability lets you transfer up to $500,000 of SOH savings to a new homesteaded property within 3 years of selling the old one.

Which Florida county has the lowest property tax?

Walton County has the lowest effective rate at 0.63%. Monroe (Keys), Sarasota, Collier (Naples), and Citrus counties also rank well below the state average.

Are seniors exempt from property tax in Florida?

Not entirely, but many counties offer an additional $50,000 senior exemption for homeowners 65+ with income below certain thresholds. Combined with regular homestead, total exemption can reach $100,000.

How can I lower my Florida property tax?

Apply for homestead exemption, claim all additional exemptions you qualify for (senior, veteran, disability), pay early for the November-February discount, and appeal your assessment if it appears too high compared to recent comps.