This online tool helps Florida homeowners transfer their “Save Our Homes” assessment savings to a new property. For example, a homeowner selling a long-time residence can apply the accumulated difference between the assessed and market values of their previous home to reduce the assessed value of a new Florida home, potentially lowering property taxes.
Transferring these savings can significantly impact property taxes, making a new home purchase more affordable. Historically, the “Save Our Homes” amendment capped annual assessment increases, benefiting long-term residents. This transferability provision, enacted later, extends these benefits, promoting housing market fluidity and allowing homeowners to move without losing valuable tax advantages. It contributes to overall housing affordability and supports homeowners relocating within the state.
