Broward County Property Appraiser Marty Kiar discusses property assessment portability and its impact on you in his July newsletter. Effective tax year 2021, a property owner who applied and was approved for Homestead Exemption for 2021 is eligible to apply for Portability if the property owner held a Homestead Exemption at a previous Florida home in one of the three previous tax years. Portability allows eligible property owners to pay less property taxes at their newly homesteaded property by transferring all or a portion of the Save Our Homes (SOH) savings from one Florida property to another Florida property within the strict time frame allowed by law. If you qualify, portability will reduce your property’s assessed value, resulting in tax savings this year and possible tax savings in future years depending upon the market value of your home each year.
