Florida voters overwhelmingly approved Amendment 1 in January 2008, which doubled the homestead exemption to $50,000, afforded homesteaded owners the "portability" right to move Save Our Homes benefits to a new homesteaded property, granted businesses and mobile home residents a $25,000 break on tangible personal property taxes, and capped annual increases for non-homesteaded properties to no more than 10%.
Most importantly, the proposal fully preserved our existing 3% Save Our Homes cap. Also, homesteaded owners do NOT need to apply for the additional savings, as the $50,000 homestead exemption amount is automatically applied. The Florida Department of Revenue (DOR) has drafted the forms, guidelines and administrative rules to implement the rest of these benefits. Click here to visit the DOR website. You can also read the enabling legislation for the amendment by clicking here if you'd like to learn more.
If you had homestead on one Florida property in 2007 and are now seeking to move your homestead to a new location: Click here to download the portability application
Please return the completed portability form to: Office of the Property Appraiser, 115 South Andrews Avenue, Room 111, Fort Lauderdale, Florida 33301; or by email (attach in PDF format); or by fax (954.357.8474).
If you are a Broward business owner, filing your current year tangible personal property tax return with the Office of the Property Appraiser will also serve as your application for the new $25,000 exemption on tangible personal property.