'Portability' allows a residential property owner with an existing Homestead Exemption to transfer all or a portion of market value that was deferred from the assessed value by the 'Save Our Homes (SOH)' 3% cap rule. Portability is an added tax relief benefit in effect since Jan. 1, 2008 following a voter approved amendment to the Florida constitution. The portability amendment permits the owner to transfer up to $500,000 of the SOH capped amount from the homestead exempt property to a newly purchased property. There are many details to the rules and the calculations of the amount that can be transported. For instance:
For a complete set of rules please see Florida State Statute 193.155 (8)
Information provided on this page is a synopsis and should serve as a guideline offered to assist the general public. For detailed information please refer to the Florida Constitution (applicable Amendments) and the Florida State Statues.
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