Could you be leaving real property tax savings on the table in Boca Raton? If you own or plan to buy a primary residence here, Florida’s homestead exemption can lower your taxable value and help stabilize future taxes. Whether you are relocating, converting a second home, or planning a sale, a clear plan can save you time and money. This guide explains eligibility, filing in Palm Beach County, Save Our Homes, portability, and how these rules shape your long-term carrying costs. Let’s dive in.
What the homestead exemption is
Florida’s homestead exemption is state-level property tax relief for a primary residence. It reduces the property’s taxable assessed value and can lower your annual tax bill. It also connects you to assessment protections under Save Our Homes, which can keep your taxable value from increasing too quickly over time.
Most homeowners see up to $50,000 in exemption value in two parts:
- The first $25,000 applies to all taxing authorities, including school district levies.
- The additional up to $25,000 applies to assessed value between $50,000 and $75,000 and generally does not apply to school taxes.
Local application can vary by assessed value. Check current language and examples with the Palm Beach County Property Appraiser.
Who qualifies in Boca Raton
You must meet three core requirements for the tax year you claim:
- Residency: The home is your permanent residence as of January 1 of that year.
- Ownership: You hold legal or beneficial title to the property.
- Property use: Single-family homes, condos, co-ops, and some mobile homes can qualify if they are your permanent residence. Investment property and pure vacation homes do not.
Florida looks at the intent to make the home your primary residence. Indicators include a Florida driver’s license with the local address, Florida voter registration, vehicle registration, a Declaration of Domicile, utility bills in your name, and the address on your tax returns.
Key deadlines to know
- Permanent residency date: You must occupy and be domiciled in the home by January 1 to claim the exemption for that year.
- Filing deadline: The initial application is generally due by March 1. Late-filing rules vary. If you miss the deadline, contact the Palm Beach County Property Appraiser.
- Practical timing: If you buy or convert your home after January 1, you typically first receive the exemption for the following tax year.
How to apply in Palm Beach County
You file with the Palm Beach County Property Appraiser. Most owners can file online, by mail, or in person. Confirm document upload requirements, signature needs, and any in-person verification before you go. If your situation involves co-owners, a recent move, or a mobile home, the office can clarify the exact documents they accept.
Documents you will need
Have these on hand when you apply. The Property Appraiser will provide the official list, but you can expect to show:
- Proof of ownership: deed or closing statement
- Government photo ID with Florida address: driver’s license or state ID
- Proof of Florida residency: voter registration, vehicle registration, Declaration of Domicile
- Additional evidence: recent utility bill in your name, employer records, address on tax returns
- Social Security numbers for applicants and co-owners
If you recently moved, bring occupancy proof such as your closing documents or a lease that reflects your move-in date.
Save Our Homes explained
Save Our Homes (SOH) limits how fast your assessed value can rise each year on a homesteaded property. The annual increase is capped at the lesser of 3% or the change in the Consumer Price Index (CPI).
- In an appreciating market, this cap often keeps your assessed value below market value.
- Over time, that gap can become meaningful and can reduce your annual tax burden compared with a non-homesteaded property.
How portability works
Portability lets you transfer some or all of your accumulated SOH benefit from one Florida homestead to your next Florida homestead. This can reduce the starting taxable assessed value on the new home and lower your taxes compared with a buyer who has no portability.
Key points:
- Portability is not automatic. You must apply with the Property Appraiser for your new county.
- You can move your benefit statewide, even if your prior homestead was in another Florida county.
- There are time windows and documentation requirements, so check the latest forms and deadlines with the Palm Beach County Property Appraiser and the Florida Department of Revenue.
How it affects your tax bill
Think of the homestead exemption in two layers:
- Short term: The base exemption reduces your taxable value right away once approved.
- Long term: Save Our Homes can slow the growth of your assessed value, which can help contain your tax bill over many years.
If you sell a homesteaded home and buy another without portability, the new home’s assessed value will likely reset closer to market value. If you qualify for portability and file properly, your transferred benefit can lower the starting assessed value on your new homestead.
Converting a second home
If you are converting a Boca Raton second home to your primary residence:
- Move in and establish domicile by January 1 to get that year’s exemption.
- Update your Florida driver’s license, voter registration, and vehicle registration promptly.
- Gather several residency indicators to reinforce intent.
- If you had a homestead elsewhere in Florida and sold it, explore portability to reduce your new home’s assessed value.
Buyer tips for Boca Raton
- Plan your closing date: A purchase that closes after January 1 usually means you first claim homestead the following tax year.
- Budget for year one: Your first tax bill may reflect no homestead and no SOH cap if you bought mid-year. Adjust escrow and cash flow accordingly.
- Verify HOA and special districts: City, county, school district, and any special districts or CDDs all influence the total bill. Homestead affects assessed value, not every line item the same way.
Seller tips in Boca Raton
- Expect questions about taxes: Long-term homestead and SOH can make your taxes look low compared with market value. Be prepared to explain why.
- Discuss portability early: If you are moving within Florida, portability could be a key part of your financial plan for the next purchase.
- Prepare documents: Keep prior assessment notices and any homestead records handy in case buyers or their advisors ask.
Avoid these common mistakes
- Missing March 1: Filing late can cost a full year of savings. Set reminders when you close.
- Assuming it is automatic: You must apply to start homestead and you must apply to transfer portability.
- Thin residency evidence: Strengthen your file with multiple documents that show domicile.
- Expecting full tax relief: Homestead reduces taxable value but does not eliminate all taxes. Millage rates and levies still apply.
Your action plan
- Confirm your primary residence status by January 1.
- File your homestead application with the Palm Beach County Property Appraiser by March 1.
- Gather strong domicile evidence: ID, voter registration, vehicle registration, Declaration of Domicile, and recent utility bills.
- If you are moving from another Florida homestead, request portability details and file the required application.
- Review how city, county, school district, and special district millage rates affect your total bill, and plan your escrow or cash flow accordingly.
If you want a clear plan tailored to your move, your second home conversion, or your sale and next purchase, we are here to help. For concierge-level guidance on timing, documentation, and what to expect in Boca Raton and across South Florida, connect with Donna Zalter, PA MBA.
FAQs
What is the Florida homestead exemption for Boca Raton homeowners?
- It is a state property tax benefit for primary residences that reduces taxable assessed value and connects your home to Save Our Homes assessment caps.
When is the filing deadline in Palm Beach County?
- The initial homestead application is generally due by March 1 for that tax year, and you must occupy and be domiciled as of January 1.
How does Save Our Homes affect my taxes in Boca Raton?
- SOH caps annual assessed value increases at the lesser of 3% or CPI, which can keep your taxable value below market value over time.
Can I transfer my tax benefit to a new Boca Raton home?
- Yes, portability can transfer your accumulated SOH differential to a new Florida homestead if you apply and meet documentation and timing rules.
What documents prove my home is my primary residence?
- Common proofs include a Florida driver’s license with the property address, Florida voter and vehicle registration, a Declaration of Domicile, utility bills, and your deed or closing statement.
