Florida · Fla. Stat. §§193.155, 196.031Florida homestead exemption after buying: file by March 1
A Florida buyer who owns and lives in the home as a permanent residence on January 1 can claim the homestead exemption: $25,000 off the assessed value for all taxes, plus up to $25,000 more on assessed value above $50,000 for non-school levies, indexed for inflation (Fla. Stat. §196.031). The application goes to the county property appraiser by March 1; missing it waives the exemption for that year (§196.011). Because of the sale, the home is first reassessed at just value on January 1 of the following year (§193.155(3)); after that the Save Our Homes cap limits increases to 3% or the CPI, whichever is lower. A buyer who had a Florida homestead in the last three years can port up to $500,000 of the old cap benefit (§193.155(8)).
What changes and why
Who qualifies
Legal or beneficial title and permanent residence on January 1 (§196.031(1)(a)).
Amount
$25,000 for all taxes, plus up to $25,000 more above $50,000 of assessed value for non-school levies (§196.031(1)).
Reset after sale
Just value on January 1 of the year after the change of ownership (§193.155(3)).
Save Our Homes cap
Later increases limited to the lower of 3% or CPI (§193.155(1)).
Portability
Up to $500,000 of the prior homestead's cap benefit, if the new homestead follows within the statutory period (§193.155(8)).
What the buyer files and when
- File the homestead application with the county property appraiser by March 1 (§196.011).
- Include Social Security numbers – an application without them is incomplete; refile by April 1.
- Claim portability on the same filing if you had a Florida homestead in the last three years.
- Read the property tax disclosure in the contract and budget from just value, not the seller's bill.
The budgeting trap
- The seller's tax bill reflects the seller's exemptions and capped value – not what the buyer will pay.
- Escrow for taxes is set from that bill, so the payment can jump after the first year.
- Exemptions do not move with the deed: the buyer has to apply.
Questions buyers ask
When is the Florida homestead deadline after buying?
March 1 of the year you own and live in the home on January 1 (Fla. Stat. §196.011).
Will my Florida taxes go up after I buy?
Usually: the home is reassessed at just value on January 1 after the sale, so the seller's capped value does not carry over.
How much is Florida homestead portability?
Up to $500,000 of the difference between just and assessed value on your prior Florida homestead (§193.155(8)).
Related guides
Add the buyer's exemption filing to the post-closing checklist as a task with an owner and due date in ClosingCode, so the reminder goes out before the deadline.
Start free trialSource: Florida Statutes §§193.155, 196.011 and 196.031 (flsenate.gov, 2025 statutes, read October 25, 2026).
General information, not legal or tax advice. ClosingCode is software; it is not a law firm or brokerage.