What Is Portability?
Florida's Portability law allows eligible property owners to transfer up to $500,000 of their “Save Our Homes” (SOH) benefit from a previous Homestead property to a new one, helping to reduce property taxes. This benefit is known as the “Assessment Difference” or “SOH Cap.”
Important: If you moved before January 1, 2007, you are not eligible for Portability.
As of January 1, 2021, homeowners have up to 3 years after selling their Homestead to establish a new one and transfer the benefit.
Upsizing Example
If the new Homestead's Just Value is higher than the old one, this is considered “Upsizing.” The full SOH benefit can be transferred.
| Old Homestead | New Homestead |
|---|---|
| Just Value: $250,000 | Just Value: $400,000 |
| Assessed Value: $150,000 | SOH Cap (Transferred): $100,000 |
| SOH Benefit: $100,000 | New Assessed Value: $300,000 |
Downsizing Example
If the new Homestead's Just Value is less than the old one, this is considered “Downsizing.” A percentage of the SOH benefit is transferred based on the ratio between the old Assessed and Just Values.
| Old Homestead | |
|---|---|
| Just Value: | $250,000 |
| Assessed Value: | $150,000 |
| SOH Benefit: | $100,000 |
| Ratio: | 150,000 ÷ 250,000 = 60% |
| New Homestead | |
|---|---|
| Just Value: | $200,000 |
| Transferred Ratio: | 60% |
| New Assessed Value: | $200,000 × 60% = $120,000 |
To apply, submit a Transfer of Homestead Assessment Difference (Form DR-501T) along with your Homestead Exemption application.
For more details, visit the Florida Department of Revenue Property Taxpayers page.