Florida Homestead Portability Calculator

Prior Home Market Value Market value can be found on your home's Notice of Proposed Property Taxes.

Prior Home Assessed Value Assessed value can be found on your home's Notice of Proposed Property Taxes.

New Home Purchase Price

Ad Valorem Property Tax Millage Rate (%) The ad valorem property tax millage rate is set by your local government.

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Transferable Save Our Homes Portability Benefit: Portability is capped at $500,000.
New Home Assessed Value with PORT:
Florida Homestead Exemption: Qualifying homeowners receive a Homestead Exemption up to $50,000. The first $25,000 applies to all property taxes, including school district taxes. The second $25,000 only applies to non-school taxes.
New Home Assessed Value with PORT and Homestead:
New Home Ad Valorem Taxes without Portability: Ad valorem property taxes are calculated by multiplying your home's taxable (assessed) value by the millage rate, which is determined by your local government.
New Home Ad Valorem Taxes with Portability:
Portability Property Tax Savings:
New Home Taxes with Portability and Homestead:
Homstead Property Tax Savings:
Total Portability and Homestead Property Tax Savings:
Save up to $81,000
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Reduce your closing costs when buying in Florida with a Hauseit Buyer Closing Credit.

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Documentary Stamp Tax, title & lien search fees, HoA estoppel letter fees, prorated property taxes, mortgage payoff, Realtor fees & more.
What Are Florida Seller Closing Costs?
Florida seller closing costs are lower compared to New York, and will run on average between 7% to 8% of the sale price, assuming a typical 6% Realtor commission and the seller pays for title insurance and related search fees. [...]
Overview of closing costs for a buyer in Florida. Average cost as well as price ranges for each closing cost item home buyers can expect.
What Are Closing Costs for a Buyer in Florida?
New Yorkers buying a home in Florida will be pleasantly surprised to find that closing costs down here are substantially lower than the closing costs they're used to up north. With the exception of broker commissions, paid by the seller, [...]
The purpose of a seller's affidavit, typically signed on closing day for a home, what the seller attests to and a sample affidavit to review.
What Is the Seller’s Affidavit for Closing?
A seller's affidavit, otherwise known as a seller's closing affidavit, is a typical document signed by the seller on closing day, along with the warranty deed, bill of sale, assignment of parking space and power of attorney, if applicable. The [...]
A Florida Bill of Sale is a closing document signed by the seller on closing day to account for any personal property related to the sale.
Why do you need a Florida Bill of Sale for a home sale?
A Florida Bill of Sale is one of the typical closing documents a home seller will sign in addition to the Florida Warranty Deed. A Bill of Sale is necessary because the sale of a typical home invariably will come [...]
What a Florida warranty deed is, how buyers are protected, what obligations sellers have as well as a sample warranty deed to review.
What is a Florida Warranty Deed?
The Warranty Deed is used for most transactions involving an arms length buyer and seller, i.e. when the counter-parties are strangers. With a Warranty Deed, the grantor, or seller, is giving the grantee, or buyer, a guarantee of warranty that [...]
Unlike New York, Florida requires sellers to fill out a property condition disclosure form and disclose all known, latent material defects.
What is the Seller Disclosure Form in Florida?
The seller disclosure form in Florida is required by law1 to be filled out by sellers and presented to buyers after a purchase contract has been signed, and is an important part of the process of buying a condo in [...]
Sample title commitment letters for all cash and financed condo purchases in Miami. Exceptions, requirements & more explained.
Sample Title Commitment for a Florida Home Purchase
We've included sample title commitment letters below for a hypothetical all cash condo purchase as well as a financed condo purchase in Miami, Florida. Notice how the title insurance commitment specifies exactly who and what is being insured, and how [...]
A step-by-step overview of the process of buying a condo in Miami in 2023 and how the Florida buying process differs from buying in New York.
The Complete Guide to Buying a Condo in Miami (2023)
Buying a condo in Miami is an exciting event, but it can catch many first time buyers or out-of-towners by surprise because of how different the process is. For example, many New Yorkers used to submitting multiple, completely non-binding offers [...]
Detailed Miami buyer closing cost calculator incorporating local norms for whether the buyer or seller pays certain property closing costs.
Miami Buyer Closing Cost Calculator
Miami Buyer Closing Cost Calculator Purchase price Are you financing with a mortgage? No/Yes Loan amount Are you buying a house or condo? Condo House Email Me The Results Email Me The Results Send Estimated closing costs Title insurance Settlement [...]

Glossary

Florida Homestead Exemption

The Florida Homestead Exemption reduces property taxes for qualifying Homestead Property homeowners in Florida. The Homestead Exemption lowers property taxes by reducing assessed value by up to $50,000 and capping the annual increase in assessed value to the lower of 3% or the percentage change in the Consumer Price Index (CPI).

Save Our Homes

Save Our Homes (SOH) is a property tax exemption for qualifying Homestead Property homeowners in Florida which lowers your property taxes. SOH works by capping the annual increase in assessed value for tax purposes to the lower of 3% or the percentage change in the Consumer Price Index (CPI).

FAQ

Can I transfer my Homestead Exemption to a new property?

Yes. You can transfer your accumulated Save Our Homes (SOH) benefit to a new primary residence up to a maximum of $500,000. To port your SOH benefit, first apply for Homestead on your new home using form DR-501. Thereafter, complete Form DR-501T and file it with your property appraiser by March 1.

Is it possible to reduce my closing costs in Florida?

Yes. You can reduce your buyer closing costs by requesting a buyer agent commission rebate from Hauseit. A commission rebate is a legal and non-taxable way to reduce your closing costs. If you’re selling, consider 1% Full Service or Agent Assisted FSBO to reduce your closing costs.

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