Frequently Asked Question

Does Florida's Save Our Homes cap make buying more attractive than in other states?

By Pam HeinoldBuyer GuideLast Updated:

Quick Answer

Florida's homestead exemption reduces your home's taxable value, and the Save Our Homes cap limits annual increases in assessed value to 3% for homesteaded properties, regardless of how much market values rise. Renters receive no equivalent protection — landlords can and often do pass along rising costs at lease renewal.

Key Takeaways

  • Florida's homestead exemption reduces your home's taxable value, and the Save Our Homes cap limits annual increases in assessed value to 3% for homesteaded properties, regardless of how much market values rise.
  • Renters receive no equivalent protection — landlords can and often do pass along rising costs at lease renewal.
  • Over a long hold, this cap is one of the more underappreciated financial advantages of owning in Florida specifically.

The Full Answer

Yes, meaningfully. Florida's homestead exemption reduces your home's taxable value, and the Save Our Homes cap limits annual increases in assessed value to 3% for homesteaded properties, regardless of how much market values rise. Renters receive no equivalent protection — landlords can and often do pass along rising costs at lease renewal. Over a long hold, this cap is one of the more underappreciated financial advantages of owning in Florida specifically.

This answer is part of a longer article by Pam Heinold:

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