What is Save Our Homes in Florida?
Save Our Homes is a Florida law that caps annual increases in the assessed value of a homesteaded home at 3% (or inflation, if lower). It protects long-term homeowners from big tax jumps as values rise — but it resets when a home is sold.
Save Our Homes is a Florida constitutional protection that caps how much the assessed value of your homesteaded (primary) residence can increase each year — at 3% or the rate of inflation, whichever is lower. It shields long-time owners from runaway tax bills when the market climbs.
Here's the catch for buyers: the cap resets when a home sells. So a long-time owner might be paying taxes on a value far below market, while you, the new buyer, start fresh at the current value. That's why your tax bill can be higher than the seller's. I make sure clients understand this before they buy so the first tax bill isn't a shock.
This answer is general education, not legal, tax, or financial advice. Your situation is unique — let's talk through the specifics together.