Amendment 1
- Calculations
Your use of this estimator and its data constitutes your agreement that you understand its intent, and that you will hold harmless the office of the Property Appraiser and its employees from any and all mistakes, misuse and misunderstandings.
|
Additional Homestead Exemption
The $25,000 additional homestead exemption amount is applied against assessed value in excess of $49,999.
This does not apply to school taxes.
| If the Assessed value is .... | Then the Homestead Exemption is ... | | Less than $25,000 | Amount of Assessed value | | $25,000 to $49,999 | $25,000 | | $50,000 to $74,999 | $25,000 + Assessed Value - $50,000 | | $75,000 or more | $50,000 |
|
Using the old Homestead, the exemption on $
of Assessed
Value is $ 25,000.
Using Amendment 1 calculations, the exemption amount would be
$ 50,000
|
|
Portability
The "portability" provision is a means to allow an existing homestead property owner to move or transport ("port") potentially all, or a portion, of their existing SOH savings benefit up to a maximum of $500,000 to a new homestead, dependent upon the new homestead’s market value.
If the market value of the new homestead (permanent FL residence) is less than the market value of the existing homestead, then a fractional percentage of the existing SOH benefit can be "ported" to the new residence. If the market value of the new homestead (permanent FL residence) is equal to or greater than the market value of the existing homestead, then the full dollar amount of the existing benefit can be "ported" to the new residence.
|
If I move from my current homestead with Just (Market) value of $
and a Save Our Homes amount of $
to another homestead with a Just (Market) value of $
then
| |
My new Save Our Homes (SOH) amount is... |
SOH benefit "Ported" to my new homestead is ... |
| Under Amendment 1: |
$200,000 |
$50,000 |
| Under old homestead rules: |
$250,000 |
$0 |
|
|
|
Find My Property
Amendment 1 Overview
|
|
|