Selling Your Florida Homestead? How Portability Takes Your Save Our Homes Savings With You

When you sell a Florida homestead, the buyer’s assessment resets, but your Save Our Homes savings do not have to disappear. Portability can carry up to $500,000 of the gap between your home’s just value and its assessed value to your next Florida homestead. Here is how the three-year window, the upsizing and downsizing formulas, and Forms DR-501T and DR-501TS work, with the Martin County Property Appraiser’s examples.