Planning a move within Florida and worried about losing your property tax break? If you have a homestead in Florida, you may be able to carry part of your tax savings to your next home. This is called Save Our Homes portability, and it can make a real difference in your annual tax bill. In this guide, you’ll learn how portability works in Marion County, who qualifies, how to file, key deadlines, and simple tips to maximize your benefit. Let’s dive in.
Save Our Homes basics
Save Our Homes (SOH) is a Florida constitutional protection for your primary residence. It limits how much your assessed value can increase each year. The increase is capped at the lesser of 3% or the change in the Consumer Price Index.
Over time, that cap creates a gap between your home’s market value and its assessed value. Many people call this gap the SOH benefit or SOH cap benefit. It is the value you may be able to transfer to your next homestead through portability.
What portability means
Portability is the process that lets you move some or all of your SOH benefit from one Florida homestead to a new Florida homestead. When approved, the transferred amount reduces the assessed value on your new home. That lower assessed value is the base used to calculate your property taxes.
Portability only applies to homesteads in Florida. It does not apply if you move your primary residence out of state.
Who qualifies in Marion County
You can request portability when you:
- Had a Florida homestead exemption on your prior home.
- Establish a new Florida homestead on your replacement home.
- Move from one Florida homestead to another Florida homestead.
You do not have to stay in the same county. If your new homestead is in Marion County, you will file your portability request with the Marion County Property Appraiser.
How much you can transfer
The transferable amount is the difference between your prior homestead’s market (just) value and its assessed (taxable) value. That is your accumulated SOH benefit.
- You may transfer all or part of this benefit, subject to statutory limits.
- The transfer reduces your new home’s assessed value. It does not change the market value.
- If your benefit is larger than what can be applied, any unused portion may not carry forward. Confirm details with the Property Appraiser.
Simple illustration
- Old home just value: $350,000
- Old home assessed value: $150,000
- SOH benefit: $200,000
If you transfer $200,000 to a new home with a just value of $400,000, the Property Appraiser may reduce the new home’s assessed value by up to $200,000 before other exemptions. Your final assessed value depends on the new valuation, laws, and limits.
How to file in Marion County
You typically request portability when you apply for homestead exemption on your new home. Both are handled by the Property Appraiser where the new home is located.
Follow these steps:
- Apply for homestead exemption on your new Marion County home.
- Request portability on the same application or companion form.
- Provide documentation. Common items include:
- Proof of sale or closing for your prior homestead (deed or closing statement).
- Proof of legal ownership for the new property.
- Proof of Florida residency for the new homestead (Florida driver’s license or ID).
- Documentation of your prior homestead exemption (tax bill or account number).
- Submit your application to the Marion County Property Appraiser. Ask about online, mail, or in-person options.
- Track your approval and confirm the portability amount applied to your new assessed value.
Exact forms, submission methods, and any additional documentation are set by the Marion County Property Appraiser. Contact their office to confirm the latest requirements.
Key deadlines to know
Florida’s homestead exemption applications are generally due by March 1 for the tax year you want the exemption. Because portability is usually requested with the homestead application, March 1 is the date you need to remember.
Depending on your situation, the Property Appraiser may have other timelines or procedures. Always confirm the current deadlines with the Marion County Property Appraiser.
What to expect on your tax bill
Portability lowers the assessed value of your new homestead, which can reduce your property taxes. The savings equals your transferred amount multiplied by the combined local tax rate, also called the millage rate.
Savings example
- Transfer amount: $150,000
- Combined local millage expressed as a decimal: 0.0200 (20 mills)
- Estimated annual savings: $150,000 × 0.0200 = $3,000
This is a simplified example. Your actual savings depend on the final assessed value, other exemptions that may apply to you, and the current millage rates for your area.
Common move scenarios
Life does not always line up with the calendar. Here are scenarios Marion County homeowners often ask about:
- Sold in December, bought in January. You can still use portability as long as you establish your new Florida homestead and file on time. Timing matters, so confirm with the Property Appraiser.
- Moving to a different Florida county. Portability still applies. You file with the Property Appraiser in the county of your new homestead, such as Marion County.
- Moving out of Florida. Portability is only for Florida homesteads, so it does not apply if your primary residence will be in another state.
Tips to maximize your benefit
- File early. Do not wait until the last minute before March 1. Early filing gives you time to address questions or missing documents.
- Gather documents. Have your prior homestead information, closing documents, and Florida ID ready.
- Consider partial transfers. You may choose to transfer less than your full accrued benefit if it fits your plans. Ask the Property Appraiser how partial transfers work in your case.
- Ask about limits. If your accrued benefit is large, confirm how much can be applied under current law.
Buyer planning guide
If you are buying in Marion County and currently have a Florida homestead elsewhere, set your expectations early:
- Estimate your potential transfer. Use your prior home’s last assessed and market values to find the SOH benefit. This gives you a rough idea before you speak with the Property Appraiser.
- Compare neighborhoods. Millage rates vary by area and special districts. Your final tax savings depends on where you buy and the year’s rates.
- Coordinate with your closing timeline. Make sure you can establish the new homestead and file before March 1.
- Budget conservatively. Treat your savings estimate as a range until your assessed value and exemptions are finalized.
Seller planning guide
If you are selling a homestead and buying another in Florida:
- Keep your records. Save your closing statement and deed from your sale, and your documentation from the new purchase.
- Monitor your deadlines. Plan your move so you can file for homestead and portability on time for the new property.
- Understand “leftover” benefit. If your transfer exceeds what can be applied, any unused portion may be lost. Ask the Property Appraiser how this might affect you.
What to confirm with the Property Appraiser
Because procedures and forms can change, confirm the following before you file:
- The exact portability form you need to submit.
- Whether online filing is available for homestead and portability.
- The current documentation list for your situation.
- Any recent changes to state rules affecting portability.
The bottom line for Marion County homeowners
Save Our Homes portability can be a significant tax advantage when you move within Florida. If you had a homestead exemption on your prior property and you are establishing a new homestead in Marion County, you may be able to transfer some or all of your SOH benefit to reduce your new assessed value. Filing with the Property Appraiser, meeting the March 1 deadline, and providing the right documents are the keys to success.
If you are planning a move or comparing neighborhoods in and around The Villages, Summerfield, Ocala, or nearby communities, a clear portability plan can help you buy with confidence and budget accurately. For personalized guidance and a local perspective, reach out anytime.
Ready to discuss your move and estimate your potential tax impact? Connect with Amanda Fincher, LLC for local insight and concierge-style support.
FAQs
What is Save Our Homes portability in Florida?
- It is the process that allows you to transfer your Save Our Homes benefit from one Florida homestead to a new Florida homestead, lowering the assessed value on the new home.
Who administers portability in Marion County?
- The Marion County Property Appraiser handles portability applications for properties located in Marion County and applies the transfer to your assessed value when approved.
What is the filing deadline for portability?
- You generally request portability when you apply for homestead exemption, which is typically due by March 1 of the tax year; confirm current deadlines with the Property Appraiser.
What documents do I need to apply?
- Common items include proof of sale for your prior homestead, proof of ownership for the new property, Florida ID for residency, and documentation of your prior homestead exemption.
Does portability change my mortgage payment?
- No. Portability reduces your assessed taxable value and may lower your property taxes; it does not change your mortgage principal or interest.
Can I use portability if I move out of Florida?
- No. Portability only applies between Florida homesteads; it does not apply if your primary residence will be outside Florida.
Can I transfer only part of my benefit?
- Yes. Partial transfers are generally allowed, subject to legal limits; speak with the Property Appraiser about what makes sense for your situation.
