Is your property tax bill higher than it needs to be? If you own a primary residence in Palm Beach, the homestead exemption and Save Our Homes cap can meaningfully reduce what you pay each year. If you are planning a move within Florida, portability can help you carry those savings to your next home too. In this guide, you will learn who qualifies, how to file, when deadlines matter, and how the math works so you can plan your budget with confidence. Let’s dive in.
Homestead exemption basics
The Florida homestead exemption reduces the taxable assessed value of your primary residence. This lowers the amount that local taxing authorities use to calculate your annual property taxes.
There are two core pieces to understand:
- A dollar-value exemption that reduces your taxable value.
- The Save Our Homes assessment cap that limits how fast your assessed value can rise each year for a homesteaded property.
Effective date and deadline
Eligibility is determined as of January 1 of the tax year. To qualify, the property must be your permanent residence on that date. You generally need to apply by March 1 with the county property appraiser for that same tax year.
Because deadlines and procedures can change, confirm current dates and forms with the Palm Beach County Property Appraiser. Property tax bills are later issued and collected by the Palm Beach County Tax Collector, a separate office from the appraiser.
Who qualifies in Palm Beach County
Core eligibility
You typically qualify if all of the following are true:
- The home is your permanent legal residence as of January 1.
- You have legal or beneficial title to the property as an individual.
- You are a U.S. citizen or a qualified permanent resident. Some non-citizen residents may qualify based on local guidance.
Common documentation
The property appraiser will tell you exactly what to provide. Typical items include:
- Proof of ownership, such as a recorded deed or closing statement.
- Proof of Florida residency at the property address, like a Florida driver’s license or ID card, vehicle registration, voter registration, or a Declaration of Domicile.
- Social Security number details as requested by the county.
- For new owners, your settlement statement showing the closing date.
Special situations
- Multiple owners: All owners usually need to treat the property as a primary residence. Fractional interests can affect eligibility.
- Rentals or seasonal use: Occasional rentals may be allowed, but the property must remain your permanent residence on January 1.
- Trusts: Homes in certain revocable trusts can qualify, with the right beneficiary and trustee documentation.
- Non-citizens: Some qualified alien residents can be eligible. Check the county’s instructions.
For forms, step-by-step instructions, and current documentation lists, start with the Palm Beach County Property Appraiser.
Save Our Homes cap, explained
Florida’s Save Our Homes (SOH) assessment limitation is a powerful benefit. Once your property is homesteaded, the annual increase in your assessed value is limited to the smaller of 3 percent or the annual change in the Consumer Price Index. In years when market prices jump, this cap keeps your assessed value from rising as fast as your home’s market value.
Over time, many long-term owners see a widening gap between market value and assessed value. That gap is the SOH benefit, and it can translate into significant annual tax savings.
Portability when you move
You can often transfer some or all of your accumulated SOH benefit to a new primary residence in Florida. This is called portability. It can reduce the starting assessed value at your next home, which helps keep taxes lower.
Portability requires an application and has rules about timing and how much benefit you can transfer. For current statewide guidance, review the Florida Department of Revenue’s property tax resources at the Florida Department of Revenue property tax page, and then confirm the filing steps with the Palm Beach County Property Appraiser.
How to apply in Palm Beach County
Where to file
Homestead exemption and portability applications are handled by the Palm Beach County Property Appraiser. Many homeowners file online, though in-person and mail-in options are commonly available. The appraiser can confirm what to bring and how to submit.
Remember, the Palm Beach County Tax Collector sends the tax bill and accepts payment, but does not process homestead filings.
Step-by-step checklist
- Verify you lived in the home as your permanent residence on January 1 of the tax year.
- Gather typical documents: Florida ID with the property address, vehicle and voter registration as applicable, proof of ownership, and any trust documents if relevant.
- Apply by March 1 through the county’s online portal or at an office listed by the property appraiser.
- If you are moving within Florida and want portability, complete the portability request together with your new homestead application. Bring closing documents for both the old and new homes if requested.
- Keep copies of everything you submit and note your confirmation number or receipt.
After you file
If approved, the exemption will appear on your property record for that tax year. Your annual property tax bill will arrive from the Tax Collector later in the year. If anything looks off on your assessment or exemption status, contact the property appraiser right away to discuss next steps.
How much can you save
A simple example
Assume your assessed value would otherwise be $300,000. If you receive a $50,000 homestead exemption, your taxable value is $250,000. If the combined millage rate in your area were 20 mills, which is $20 per $1,000 of taxable value, the exemption would save about $1,000 for the year. That is a straightforward way to see why filing on time matters.
If you also have a large Save Our Homes benefit, your assessed value could be much lower than your home’s market value. That difference can add substantial additional savings each year.
Local millage matters
Combined millage rates vary by municipality, the county, the school district, and special districts. Your savings depend on the rates where the property is located. The property appraiser’s site can help you understand the components of your taxable value, while the tax collector provides payment timelines and billing information.
Buyer and seller quick tips
- If you buy after January 1, you usually cannot claim the exemption for that calendar year. Plan for higher taxes in year one and apply for the following year.
- If you are moving from one Florida homestead to another, explore portability right away. It can meaningfully reduce taxes at your next address.
- Coordinate with your closing agent so your homestead and portability paperwork is handled quickly after closing.
- If you are considering occasional rentals, speak with the property appraiser first to make sure you do not jeopardize your homestead status.
Avoid these pitfalls
- Missing the March 1 deadline. Late filing may be allowed only in limited cases set by the county.
- Listing the property as a vacation rental without keeping it as your permanent residence. That can jeopardize the exemption.
- Forgetting to update your Florida driver’s license, vehicle registration, or voter registration to your homestead address. These are common proof items.
- Overlooking portability when upsizing or downsizing within Florida. You could leave valuable savings behind.
Local resources
- For applications, forms, and status questions, start with the Palm Beach County Property Appraiser.
- For tax bills, payment options, and discount timelines, visit the Palm Beach County Tax Collector.
- For statewide explanations of homestead, Save Our Homes, and portability, review the Florida Department of Revenue property tax page.
When you understand how the homestead exemption, the Save Our Homes cap, and portability fit together, you can make smarter choices about budgeting, timing a move, and evaluating the long-term cost of ownership. If you are planning a purchase or a sale in Palm Beach and want a clear plan for taxes, timelines, and next steps, I am here to help you move with confidence. Reach out to Rachel Cruz to set a strategy that fits your goals.
FAQs
What is the homestead exemption in Palm Beach?
- It is a property tax benefit that lowers the taxable assessed value of your primary residence and provides a Save Our Homes cap that limits annual increases in assessed value.
When do I have to live in the home to qualify?
- You must establish the home as your permanent residence on January 1 of the tax year, then apply by March 1 with the county property appraiser.
Who processes homestead applications in Palm Beach County?
- The Palm Beach County Property Appraiser handles homestead and portability filings, while the Tax Collector issues and collects tax bills.
How does the Save Our Homes cap work?
- For homesteaded properties, the assessed value cannot increase by more than the smaller of 3 percent or the change in CPI each year, which can lower taxes over time.
Can I transfer my Save Our Homes benefit when I move?
- Yes. Portability lets you transfer some or all of your SOH benefit to a new Florida homestead, subject to rules and deadlines. Start with the Florida Department of Revenue property tax page and confirm steps with the county.
What if I buy after January 1?
- You usually cannot claim the exemption for that year. Plan to apply for the following tax year and confirm your documents early so you meet the March 1 deadline.
Can I keep the exemption if I rent my home sometimes?
- The property must remain your permanent residence on January 1. Occasional rentals may be allowed, but rental activity can complicate eligibility, so check with the property appraiser first.
