[EngGirl]

Looking for anyone with personal experience on Save Our Homes Portability Transfer property taxes. Trying to understand how it works. My local office couldn't explain it to me.

If you had a house with tax exemption and moved to a new house, what happens with taxes and how exactly portability works?

Save Our Homes Portability Transfer
If you are moving from a previous Florida homestead
to a new homestead in Florida, you may be able to
transfer, or “port,” all or part of your homestead
assessment difference
If you are eligible, portability allows most Florida
homestead owners to transfer their SOH benefit from
their old homestead to a new homestead, lowering
the tax assessment and, consequently, the taxes for
the new homestead.
To transfer the SOH benefit, you must establish a
homestead exemption for the new home within three
years of January 1 of the year you abandoned the old
homestead (not three years after the sale).

I got the theory, but in reality, anyone has experience how it really worked?

[wizrap]

We sold our home in Broward and bought a less expensive one in Alachua County about 5, 6 years ago. Because we downsized, a percentage of our Save Our Homes transferred to Alachua County. I think it was about 70% or so for us. Here’s an example from the Miami-Dade website that shows upsizing and downsizing in price.

https://www.miamidade.gov/pa/exempti...lculations.asp

We had to file paperwork to get the SOH value transferred over. Alachua County had to verify our information from Broward. The SOH benefit was one of the reasons we didn’t continue to rent out our home in Broward. You lose it after you no longer live in a home with homestead exemption in about 3 years.

It’s working great for us. Our former neighbors who moved in from out of state are paying twice the property taxes we are paying. So it’s a real savings.

[Lillie767]

The Pinellas County Property Appraisal Office has a very good website with a very good explanation of portability. I have to laugh comparing this to the Miami-Dade page (see previous post). I guess we on the west coast need pictures to explain this to us while the good people of Miami-Dade can read.

Go to the website, https://www.pcpao.org/.

Click on Portability in the left column.

Diagrams and examples are used to help explain how this works.