Last Updated: July 2026
This article is for informational purposes only and does not constitute financial advice. Speak with a licensed mortgage professional before making any mortgage decisions.
Quick Answer
Florida's Save Our Homes portability lets you transfer up to $500,000 of accumulated assessment savings from your old homestead to a new Florida homestead, filed on Form DR-501T within three tax years of abandoning the previous home. Portability is unchanged by the November 3, 2026 ballot — Amendment 3 (HJR 1-F), if approved, would layer a larger $150,000/$250,000 non-school homestead exemption on top of your ported benefit. For mortgage buyers, a smaller taxable base means lower monthly escrow, lower PITI, a lower debt-to-income ratio, and more qualifying power on the next home.
Why Florida homeowners suddenly need to understand portability
Every Florida homeowner who has watched their assessed value stay flat while the market ran ahead has quietly built a tax asset most people cannot name — the Save Our Homes differential. Sell the house, and the anxious question follows: does that protection just vanish?
Short answer: no. Florida law was designed to let you take it with you.
That reassurance matters right now for a specific reason. Amendment 3 goes to voters on November 3, 2026, and every explainer in your feed is about a proposed $250,000 exemption. What almost none of them explain is how the tool you already have — portability — actually works, how a proposed ballot measure interacts with it, and, most importantly, what the reduced tax bill on your next home does to your monthly mortgage payment. That last piece is where this article earns its keep.
Quick Start: Pick your path
Four common scenarios, four one-line actions. Find yours below.
Selling and buying a new Florida homestead within three tax years. File Form DR-501T with your new county property appraiser between January 1 and March 1 of the year you claim your new homestead, and your accumulated Save Our Homes savings transfer with you, up to $500,000.
Selling now, not buying yet. The three-tax-year clock starts the year you abandon the old homestead, so pin a target closing date on your new Florida home no later than the third tax year after that.
Downsizing to a smaller Florida home. You transfer a proportional share of your Save Our Homes benefit, not the full amount — a formula that often catches retirees off guard. Run the math before you list.
Moving to Florida from another state. Portability does not apply because you never had Florida homestead. Your new home is treated as a fresh homestead subject to current exemption rules and, if Amendment 3 passes, a residency waiting period for new arrivals.
What Save Our Homes portability actually is
Save Our Homes is Florida’s 1992 constitutional amendment capping how fast the assessed value of a homesteaded property can rise. Each year the cap holds annual growth to 3 percent or the change in the Consumer Price Index — whichever is lower — regardless of what the market does. Article VII, §4(d) of the Florida Constitution and Florida Statutes §193.155 codify it.
Over time, that cap widens the gap between market value and assessed value. A Florida home worth $600,000 today may be assessed at only $280,000 after fifteen years of homestead protection, because the assessed side grows at a fraction of the market’s pace. That $320,000 gap is the Save Our Homes differential, and it is what lowers your annual property tax bill.
Portability is the follow-on rule that lets you carry the differential to a new Florida homestead when you move. Without it, selling resets your assessed value to full market on the next home. With it, up to $500,000 of your accumulated differential rides along, and you keep most of what you built. For a broader picture, see our guide to Florida property tax changes to watch in 2026.
The numbers that matter: $500,000 cap, three tax years, Form DR-501T
Three numbers do most of the work in this conversation: the $500,000 cap, the three-tax-year transfer window, and Form DR-501T.
Florida's Save Our Homes portability lets a homestead owner transfer up to $500,000 of accumulated assessment difference to a new Florida homestead within three tax years of abandoning the previous home, filed on Form DR-501T with the new county property appraiser.
The $500,000 cap is the maximum transferable amount. If your accumulated differential is smaller, you transfer the smaller number; if it is larger, the excess is left behind. Long-tenured homeowners in high-appreciation counties like Miami-Dade, Broward, and Palm Beach are the group most likely to bump into the ceiling.
The three-tax-year window is often misunderstood. The clock does not start when you sell — it starts the tax year you abandon the previous homestead by moving out or losing eligibility. Voters expanded the window from two years to three effective January 1, 2021, so older CPA and law-firm pages that reference a two-year window are simply out of date.
Form DR-501T is the Transfer of Homestead Assessment Difference application. You file it alongside your new Form DR-501 homestead application at your new county’s property appraiser between January 1 and March 1 of the tax year you are claiming the transferred benefit.
| Move type | What transfers | Cap | Window | Form required |
|---|---|---|---|---|
| Upsize within Florida | Full accumulated differential | $500,000 | 3 tax years | DR-501 + DR-501T |
| Lateral move within Florida | Full accumulated differential | $500,000 | 3 tax years | DR-501 + DR-501T |
| Downsize within Florida | Proportional share (old assessed / old market × new market) | $500,000 | 3 tax years | DR-501 + DR-501T |
| Sold now, buying later (still in Florida) | Full or proportional depending on next purchase | $500,000 | 3 tax years max | DR-501 + DR-501T at future purchase |
| Moving to Florida from out of state | Nothing — portability does not apply | n/a | n/a | DR-501 only (fresh homestead) |
Upsizing vs. downsizing: how the transfer math actually works
The upsize formula is the easy one. If your new Florida homestead has a market value greater than or equal to your previous home’s market value, the full accumulated differential transfers, up to the $500,000 cap. Say your old home had a market value of $650,000 and an assessed value of $350,000. That is a $300,000 differential. Moving to a new $700,000 Florida home, all $300,000 transfers — your new assessed value drops from $700,000 to $400,000 before exemptions apply.
The downsize formula is where things get counterintuitive. When your new home has a lower market value than your old one, you transfer a proportional slice, calculated as previous assessed value divided by previous market value, times the new home’s market value. Using the same $650,000 / $350,000 old home, but moving to a $400,000 home this time: $350,000 divided by $650,000 equals roughly 53.85 percent. Applied to the $400,000 new market value, that produces a new assessed value of about $215,000 — meaning roughly $185,000 of Save Our Homes benefit transferred proportionally.
Downsizing retirees often expect the full $300,000 to move with them and are surprised when the math delivers less. Running the numbers before listing lets you avoid that surprise.
How the November 2026 ballot amendment fits in
Amendment 3, formally House Joint Resolution 1-F and titled “Save Our Homes from Excessive Property Taxes,” passed the Florida Legislature on June 2, 2026 on votes of 75–26 in the House and 30–9 in the Senate. It now goes to voters on November 3, 2026, where it needs 60 percent approval to become part of the Florida Constitution.
If approved, the amendment would raise the non-school homestead exemption from today’s $50,000 to $150,000 in 2027, then to $250,000 in 2028, with annual inflation adjustments starting in 2029. About 60 percent of homesteaded Florida owners would owe zero non-school property tax once the full exemption phases in.
Here is what matters for portability. Amendment 3 (HJR 1-F), on the November 3, 2026 statewide ballot, does not change Save Our Homes portability rules — the proposed larger non-school homestead exemption sits on top of the accumulated portability benefit rather than replacing it. Your differential still transfers up to $500,000, filed on the same DR-501T form.
A separate proposal, HJR 211, would have removed the $500,000 portability cap entirely. It died in the regular session and is not on the November ballot. The $500,000 portability cap remains in effect regardless of the November vote.
What portability actually does to your Florida mortgage payment
Here is the part almost no one else in your feed is writing. Your mortgage payment is not just principal and interest — it also carries insurance and property tax through escrow. A smaller assessed value produces a smaller annual property tax bill, which produces a smaller monthly escrow contribution, which lands directly in your PITI (principal, interest, taxes, insurance).
A lower assessed value from ported Save Our Homes benefit reduces the non-school property tax portion of your Florida mortgage escrow, which lowers monthly PITI, reduces your debt-to-income ratio, and expands qualifying loan amount on the next home.
Put concrete numbers on it. Suppose you port a $250,000 differential to a Broward County move. At a typical non-school millage in the low teens, that may shave roughly $2,500 to $3,000 off your annual property tax bill — around $210 to $250 a month in escrow. At typical debt-to-income ceilings for conventional and FHA loans, freeing up $210 in monthly income headroom often translates to roughly $30,000 to $45,000 of additional qualifying loan amount, depending on rate, term, and buyer profile. These are illustrative estimates, not a rate or payment quote.
Foreign national buyers are an important exception. Non-U.S. residents cannot claim Florida homestead and therefore cannot use portability, so any purchase math should be run without it — the Pegasus Florida team can walk through the alternative loan structures that fit. For step-by-step affordability math on your own file, see our guide on how much house you can afford in Florida.
Step by step: how to transfer your Save Our Homes benefit
Five steps carry portability from listing your old home to your new TRIM notice.
- Confirm your current homestead exemption is active on the county property appraiser’s website. If the original DR-501 was never filed, portability has nothing to transfer.
- Abandon the old homestead when you sell or vacate. If both spouses are on title, both must abandon for the differential to transfer — a common reason claims fail.
- Close on your new Florida homestead within three tax years of abandoning the previous one. The tax year you abandon counts as one, so December sales give less runway than January sales.
- Between January 1 and March 1 of the year you claim the transferred benefit, file Form DR-501 and Form DR-501T with your new county’s property appraiser. Both are required.
- Watch your August TRIM notice to confirm the transferred differential shows on your new assessed value. If it does not, contact the property appraiser before the September appeal deadline.
For broader closing and residency guidance, see our buying a home in Florida in 2026 guide.
Common mistakes Florida homeowners make with portability
Seven traps show up over and over on portability claims. Any one of them can cost thousands.
- Missing the March 1 filing deadline for either DR-501 or DR-501T at the new county
- Assuming portability transfers automatically — it does not; the DR-501T must be filed
- Failing to abandon the old homestead when both spouses are on title
- Waiting past the three-tax-year window to close on the new Florida homestead
- Confusing Florida homestead with primary residence status for federal income tax
- Renting out the old home short-term and unknowingly voiding the homestead the year you abandon
- Budgeting escrow savings from Amendment 3 before voters actually approve it in November
For a broader roundup of what trips homeowners at tax time, see our costly Florida tax mistakes to avoid guide.
Frequently Asked Questions
If I move within Florida, do I lose my Save Our Homes tax savings?
No. Florida’s portability rule was created specifically to prevent that loss. You can transfer up to $500,000 of your accumulated Save Our Homes differential from your old homestead to a new Florida homestead by filing Form DR-501T with the new county property appraiser within three tax years of abandoning the old home.
How does Save Our Homes portability work in Florida?
Florida's Save Our Homes portability lets a homestead owner transfer up to $500,000 of accumulated assessment difference to a new Florida homestead within three tax years of abandoning the previous home, filed on Form DR-501T with the new county property appraiser. The transferred differential lowers your new home’s assessed value before millage is applied.
What is the maximum Save Our Homes benefit I can transfer to a new Florida home?
The maximum transferable amount is $500,000 of accumulated assessment difference. If your Save Our Homes differential is smaller, you transfer the smaller number; if it is larger, any excess is left behind. The cap has held at $500,000 since portability took effect in 2008. HJR 211, which would have removed the cap, died in the 2026 regular session.
How long do I have to transfer my Save Our Homes benefit after selling my Florida home?
Three tax years, measured from the year you abandon your previous homestead — not from the sale date. Voters expanded the window from two to three years effective January 1, 2021. You must establish your new Florida homestead on or before January 1 of the third tax year following abandonment.
Does the November 2026 ballot amendment change Save Our Homes portability?
No. Amendment 3 (HJR 1-F), on the November 3, 2026 statewide ballot, does not change Save Our Homes portability rules — the proposed larger non-school homestead exemption sits on top of the accumulated portability benefit rather than replacing it. Portability still caps at $500,000 and uses the same DR-501T form.
How does Save Our Homes portability affect my mortgage escrow and monthly payment?
A lower assessed value from ported Save Our Homes benefit reduces the non-school property tax portion of your Florida mortgage escrow, which lowers monthly PITI, reduces your debt-to-income ratio, and expands qualifying loan amount on the next home. The effect scales with your county’s non-school millage rate — higher-millage counties see larger monthly escrow reductions from the same ported differential.
What form do I need to transfer Save Our Homes portability?
Form DR-501T, Transfer of Homestead Assessment Difference. File it with your new county’s property appraiser between January 1 and March 1 of the tax year you claim the transferred benefit. You must also file the standard homestead exemption application, Form DR-501, at the same time — both are required.
Does portability apply if I downsize to a smaller Florida home?
Yes, but with a proportional formula rather than a full transfer. Divide your previous assessed value by previous market value, then multiply by the new home’s market value to find your new assessed value. Retirees downsizing often expect the full differential to transfer and are surprised when the math delivers less.
Where to go from here
Portability is the tool that protects what long-term Florida homeowners have already built. Move within three tax years, file both DR-501 and DR-501T, and abandon the old homestead cleanly — and up to $500,000 of your accumulated Save Our Homes differential rides with you to the new Florida home. If Amendment 3 passes in November, the larger non-school exemption would stack on top, a potential compounding benefit worth watching.
Every move is different, and the escrow math depends on the county, the loan program, and your profile. When you are ready to run those numbers on a specific Florida purchase, we are here to help.
This article is for informational purposes only and does not constitute financial advice. Speak with a licensed mortgage professional before making any mortgage decisions.
Sources & References
- Florida Senate Press Release (June 2, 2026): Senate Passes Historic Property Tax Cut for Florida Homeowners
- Florida Statutes §193.155 — Homestead assessments and Save Our Homes portability
- Florida Statutes §196.031 — Homestead exemption
- Article VII, Section 4(d), Florida Constitution — Save Our Homes assessment cap
- Florida Department of Revenue — Property Tax Oversight forms (DR-501, DR-501T)
- Palm Beach County Property Appraiser — Portability guidance and calculator
- Florida Policy Institute — Amendment 3 ballot language summary (June 2026)
- Barnes Walker — Florida Property Tax Update: The Amendment Now Headed to Your November 2026 Ballot