Thinking about how to lower your property taxes on a Tampa home? Florida’s homestead exemption is one of the most valuable benefits available to primary homeowners. If you understand the basics and file on time, you can reduce your taxable value and protect yourself from sharp assessment increases over time.
In this guide, you’ll learn what the homestead exemption does, who qualifies, what to file, key deadlines in Hillsborough and Pasco, how portability works, and the simple steps to take after closing. Let’s dive in.
Homestead exemption benefits
Florida’s homestead exemption reduces the assessed value used to calculate your property taxes on a primary residence. For most homeowners, the maximum exemption is up to $50,000. The first $25,000 applies to all taxing authorities, including school district taxes. The second $25,000 applies to the assessed value between $50,000 and $75,000 and typically does not apply to school taxes.
Once your home has homestead status, the Save Our Homes assessment cap limits yearly increases in assessed value. The limit is generally 3 percent or the Consumer Price Index, whichever is less. In a rising market, this cap can keep your assessed value from climbing as fast as market value, which may save you money over time.
If you move, you may also be able to transfer, or “port,” your Save Our Homes benefit to a new Florida homestead. Portability can reduce the assessed value on your next home, which can ease the jump in taxes when you buy again.
Why this matters in Tampa
Tampa has seen strong appreciation in recent years. The base homestead exemption and the Save Our Homes cap can both lower your tax burden compared with a non-homestead property.
Many residents move within the Tampa Bay region, including Hillsborough, Pasco, and Pinellas. Portability is available statewide, so your benefit can follow you across county lines when you buy another Florida primary residence.
Who qualifies in Florida
To qualify for a given tax year, you must own the property and occupy it as your permanent legal residence on January 1 of that year. One person can have only one homestead, and a single property can only receive one homestead exemption.
Individuals and many living trusts qualify when the grantor is the beneficiary and occupies the home. Corporations and LLCs are generally not eligible. Co-ownership can be eligible when the owner-occupant meets residency rules. Always check how your title is structured.
Proof you may need
When you apply, counties typically request:
- Proof of ownership, such as a recorded deed or title documents.
- Official photo ID with your Florida address, like a Florida driver’s license or Florida ID card.
- Social Security numbers for the owner-occupant(s), or a note if an owner is exempt from providing an SSN.
- Evidence of permanent Florida residency, which may include your Florida driver’s license or ID with the property address, voter registration, vehicle registration, a declaration of domicile, or utility bills.
- Trust documents, if the property is owned by a trust, showing the grantor and beneficiary rights.
Special situations
- Co-owners with different residencies. The exemption applies to qualifying Florida resident owners who occupy the home. Title structure can affect how the exemption is applied.
- Condos, co-ops, and mobile homes. These can qualify if they are your permanent residence. Documentation and steps may differ by county.
- Additional exemptions. Some categories, such as surviving spouses, seniors, and disabled veterans, may have separate exemptions that require their own applications and documents.
Filing in Hillsborough and Pasco
Florida uses a statewide process that counties administer. For Tampa-area homeowners, you will work with the Hillsborough County Property Appraiser if your home is in Hillsborough, or with the Pasco County Property Appraiser if your home is in Pasco.
- General deadline. The filing deadline for a new homestead exemption is March 1 of the tax year. You must own and occupy the home as your permanent residence by January 1 of that year.
- Where to file. File with the property appraiser in the county where the property is located. Many counties accept online applications, as well as in-person or by mail.
- What to confirm. Each county posts current instructions, acceptable documents, and any online filing options. Check office locations, hours, and any local guidance before you go.
Step-by-step after closing
Confirm your closing date and whether you will occupy the home as your permanent residence on January 1 of the upcoming year.
Gather documents. Have your recorded deed or final settlement paperwork, Florida driver’s license or ID with your new address or your plan to update it, Social Security numbers, and any trust documents if applicable.
Apply by March 1. Submit your homestead application to the county property appraiser where your home is located. If online filing is available, follow the county’s instructions.
If you moved from another Florida homestead, file the separate portability application with your new county. Your county property appraiser can confirm which form to use and what proof is needed.
After you file
The county will review your application and send a notice of approval or denial. Approved exemptions appear on the property tax roll for that year.
Watch for your TRIM notice, which usually arrives in August. It will show your assessed and taxable values, exemptions applied, and the millage rates. If you disagree with your assessed value, the TRIM notice explains how to appeal to the Value Adjustment Board and when to file.
Save Our Homes portability
Portability allows you to transfer some or all of the Save Our Homes benefit from your previous Florida homestead to your new one. The benefit is the difference between market value and assessed value on your previous homestead.
You file the portability claim with the property appraiser in the county where your new homestead is located. You will provide details about your prior homestead, proof that you abandoned it, and proof of ownership and occupancy of the new home.
Timing tips
Timing rules apply, so contact the new county property appraiser soon after you move. You can often submit portability when you first apply for homestead at the new home. If you wait, confirm the deadlines and required documentation with the county or the Florida Department of Revenue’s guidance.
Post-closing checklist for Tampa buyers
Use this quick list to stay on track:
- Update your Florida driver’s license or ID to your new address.
- Register to vote in Florida using your new address.
- Update your vehicle registration if required.
- File your homestead exemption with the Hillsborough or Pasco County Property Appraiser by March 1.
- If you expect portability, contact your new county to file the portability claim and confirm documentation.
- Notify your mortgage servicer once your exemption is approved and provide any proof they need for escrow.
- Review your TRIM notice in August for assessed value, exemptions, and deadlines to appeal.
Common mistakes to avoid
- Missing the March 1 deadline. File early so you have time to fix any issues.
- Confusing move-in with January 1 residency. You must own and occupy as of January 1 to qualify for that tax year.
- Waiting to update your ID. Align your driver’s license or ID with your homestead address as soon as you establish residency.
- Assuming escrow updates automatically. Your lender is not automatically notified. Send them your approval so they can adjust your escrow.
- Forgetting portability. If you moved from another Florida homestead, ask your new county about the portability claim when you file.
- Claiming more than one homestead. Only one primary residence can receive homestead at a time.
Work with a local guide
A little preparation goes a long way with Florida’s homestead rules. If you plan to buy, sell, or move within Tampa Bay, a local guide can help you line up timing, gather documents, and understand how homestead and portability may affect your tax picture on your next home.
For personal guidance before you buy or sell, connect with the boutique team trusted by Tampa families. Request your consultation with Carr Signature Premier Group today.
FAQs
Do I qualify if I close after January 1 in Hillsborough County?
- To receive the exemption for a tax year, you must own and occupy the home as your permanent residence on January 1 of that year. If you closed after January 1, you generally apply for the next tax year.
What happens if I miss the March 1 homestead deadline in Tampa?
- Counties may allow late or corrective filings in certain cases. Contact the county property appraiser as soon as possible to learn about options and what documentation is required.
How do I update my mortgage escrow after my homestead is approved?
- Your lender is not automatically notified. Send your servicer the county approval notice or other proof so they can adjust your escrow and future tax payments.
Can I claim more than one Florida homestead at the same time?
- No. Homestead is for your primary residence only, and you can have only one homestead exemption at a time.
When will I see tax savings after I apply in Hillsborough or Pasco?
- Once approved, the exemption will appear on the tax roll for that year. You will see the change on your TRIM notice and the annual tax bill.
How does Save Our Homes portability work if I move from Pasco to Tampa?
- You can transfer the Save Our Homes benefit from your previous Florida homestead to your new one by filing a portability claim with the new county and providing details and proof of both properties.
What documents are needed for a trust-owned Tampa home?
- Provide trust documents that show the grantor and beneficiary rights, along with your deed, Florida ID, Social Security number(s), and residency evidence the county accepts.
