Homestead Exemption — Overview
Florida's Homestead Exemption provides up to $50,000 in assessed value reduction for primary resident homeowners ($25,000 applies to all property taxes; the second $25,000 applies to non-school taxes). The application must be filed with the county property appraiser by March 1 of the applicable tax year. This is general information — consult the Florida Department of Revenue or your county property appraiser for current rules.
Up to $50K ReductionMarch 1 DeadlinePrimary Residence OnlyVerify with County Appraiser
Save Our Homes Cap
Once a homestead exemption is in place, the assessed value of the property can increase no more than 3% or the Consumer Price Index annually — regardless of market value increases. This cap can create significant divergence between market value and assessed value over time for long-held homesteads.
3% Annual CapAssessed vs Market ValueLong-Term BenefitVerify Current CPI Rules
Portability — Transfer of Benefit
Florida's portability provision allows homeowners to transfer accumulated Save Our Homes benefit from an existing homestead to a new primary residence. This can reduce the assessed value of the new property and lower property taxes. Portability calculations are complex — consult a licensed CPA or the county property appraiser for accurate numbers.
Transfer SOH BenefitComplex CalculationConsult Tax ProfessionalAppraiser Can Calculate
Investment & Non-Homestead Properties
Non-homesteaded properties — investment properties, second homes, and rentals — are assessed at market value annually without the Save Our Homes cap. The assessed value can increase without limit year-over-year, making tax planning more important for investors. A 10% cap on non-homestead property assessment increases was enacted by constitutional amendment but verify current applicability with a tax professional.
Annual Market AssessmentNo SOH CapInvestor Tax PlanningConsult Tax Professional
Orange County property taxes include levies from the county, Orange County Public Schools, special districts, and the City of Orlando (for incorporated properties). The effective rate varies by the combination of taxing authorities applicable to each specific property. For current millage rates, consult the Orange County Property Appraiser at ocpafl.org.
Multiple Taxing AuthoritiesOCPA WebsiteVerify Current RatesCity vs County Rates
Important Disclaimer
This page provides general educational information about Florida property taxes and is not tax advice. Property tax rules, rates, exemptions, and deadlines change. Always consult a licensed CPA, tax attorney, or Florida property appraiser for advice specific to your situation before making any real estate or tax decision.
Not Tax AdviceConsult Licensed CPARules ChangeVerify Current Information