Florida Homestead Exemption Basics For Miami Buyers

Buying a home in Miami comes with sunshine, culture, and a new set of property tax rules. If you plan to make your Miami address your permanent Florida residence, the homestead exemption can lower your tax bill and protect you from sharp assessment increases over time. Many buyers miss out because they do not apply on time or do not know which documents to gather. In this guide, you will learn the key benefits, who qualifies, how and when to file in Miami-Dade, and how portability can preserve tax savings when you move. Let’s dive in.

What the Florida homestead exemption does

Florida’s homestead exemption reduces the taxable assessed value of your permanent residence, which lowers your annual property taxes. The standard exemption is up to $50,000 off your assessed value. The first $25,000 applies to all taxing authorities. The second $25,000 applies to the assessed value between $50,000 and $75,000 and does not apply to school district taxes. Your actual tax savings depend on local millage rates in Miami-Dade.

It helps to separate three terms you will see on your bill:

• Market value: the appraised fair market value of your home.
• Assessed value: the value the property appraiser uses for taxes, which may be limited by Save Our Homes.
• Taxable value: the assessed value minus exemptions. Homestead lowers this number.

Homestead also pairs with the Save Our Homes assessment cap, which limits how much your assessed value can increase each year when the property is your homestead.

Who qualifies in Miami-Dade

To qualify, you must own the property, be a Florida resident, and make the home your permanent residence as of January 1 of the tax year. If you meet those conditions, you can file an application with the Miami-Dade County Property Appraiser.

For county procedures and the online portal, visit the Miami-Dade County Property Appraiser.

Documents you may need

Miami-Dade may request several items to confirm ownership and residency. Common documents include:

• Proof of ownership, such as a recorded deed.
• Florida driver’s license or Florida ID card showing the property address. A Declaration of Domicile can also support residency.
• Florida voter registration and Florida vehicle registration with the same address.
• Supporting items if addresses are not aligned, such as a closing statement or utility bills.
• Social Security number for each owner applying. Counties often request SSNs for identification under state rules.

The county can request additional documentation as needed to establish that the property is your permanent residence.

Ownership and special situations

Homes held in a trust can qualify in some cases, but details matter. The structure of the trust or other forms of ownership may affect eligibility. If your situation involves a trust, multiple owners, divorce, probate, or an inheritance, consult a real estate attorney or tax professional and coordinate with the Property Appraiser.

When and how to apply in Miami-Dade

The general filing deadline for a new homestead exemption is March 1 of the tax year. You must both own and occupy the property as your permanent residence on January 1 to qualify for that year.

• If you close on December 20 and live in the home on January 1, you may file for that year’s exemption by March 1.
• If you close on January 10, you missed the January 1 occupancy date and would apply for the next year.

You can apply online or in person with the Miami-Dade County Property Appraiser. The office reviews your application and will either approve it or request more information. In the summer, you will receive a Notice of Proposed Property Taxes (TRIM notice) that reflects changes to assessments and exemptions.

For statewide guidance on exemptions, review the Florida Department of Revenue’s overview of property tax exemptions.

Save Our Homes: assessment cap and long-term protection

Save Our Homes (SOH) limits how much the assessed value of a homesteaded property can increase each year. The increase is capped at the lesser of 3 percent or the change in the Consumer Price Index. This cap can create a meaningful gap over time between market value and assessed value, which helps stabilize your yearly tax bill.

For a clear explanation of SOH, see the Florida Department of Revenue’s page on Save Our Homes.

Portability: moving your SOH benefit to a new Miami home

If you had a homestead anywhere in Florida and you are buying another Florida homestead, you may be able to transfer, or “port,” some or all of your Save Our Homes assessment difference to your new property. This can reduce the assessed value of the new home and lower your tax bill.

Key points:

• You must apply for portability when you establish the new homestead and follow the deadlines set by state law and the county.
• The Property Appraiser calculates how much of your assessment difference can transfer, subject to state limits.
• The state’s portability form is commonly known as DR‑501T. You can find it in the Florida Department of Revenue’s property tax forms library.

Because portability calculations can be complex, gather information about your prior Florida homestead and consult the Miami-Dade Property Appraiser or a tax professional to estimate your savings.

Practical scenarios for Miami buyers

• You buy after January 1. You will not qualify for that year’s homestead exemption because you did not occupy the home on January 1. Apply for the next tax year by March 1.
• You are relocating from out of state. Update your Florida driver’s license and vehicle registration to your new address, register to vote in Florida, and keep utility records. File your homestead application with Miami-Dade by the March 1 deadline.
• You have a prior Florida homestead. Review your last property’s assessed value and SOH benefit, then apply for portability with the DR‑501T when you file your new homestead.
• You plan to rent part or all of the property. Active rental use conflicts with the requirement that the home be your permanent residence. The county may request proof of occupancy.

Quick filing checklist

Use this list to stay on track after closing on a Miami home you plan to occupy.

• Confirm you will own and occupy the home as of January 1 of the tax year.
• Update Florida driver’s license or Florida ID to the property address.
• Update voter registration and vehicle registration.
• Collect your recorded deed and closing statement.
• Save a utility bill or move-in proof with the property address.
• File your homestead application with the Miami-Dade Property Appraiser by March 1.
• If eligible, submit the portability request (DR‑501T) with your homestead filing.

Additional exemptions you may qualify for

Beyond the standard homestead exemption, Florida offers added relief for specific groups, such as low-income seniors, disabled persons, disabled veterans, and surviving spouses. These programs have separate rules and documentation. Review the Florida Department of Revenue’s overview of property tax exemptions and then confirm requirements with the Miami-Dade Property Appraiser.

Planning tips for Miami-Dade buyers

• File early. Do not wait until the last week of February. Give yourself time to gather documents and respond to any county requests.
• Align your addresses. Make sure your Florida ID, voter registration, and vehicle registration show the same property address.
• Keep move-in records. Utility start dates, delivery receipts, or a homestead affidavit can help confirm occupancy if asked.
• Ask about portability. If you owned a homesteaded property elsewhere in Florida, portability can make a large difference in your new home’s taxes.
• Get professional guidance. Complex title situations, trusts, and life changes like divorce or probate can affect eligibility. Coordinate with a tax professional or attorney.

For statutory background, Florida’s homestead exemption is created by state law. If you want to review the legal framework, see Chapter 196 of the Florida Statutes, then confirm procedures locally with Miami-Dade.

Work with a trusted local advisor

Understanding homestead rules helps you plan your Miami purchase with confidence. It affects your carrying costs, your long-term tax strategy, and how quickly you can act on a move. If you are relocating, upgrading, or downsizing, our team can help you time your closing, coordinate documents, and connect you with property tax professionals so you file correctly and on time.

Ready to discuss your Miami move and tax timeline in private? Contact the Ben Moss Group to schedule a private consultation.

FAQs

When can I first claim homestead if I buy after January 1 in Miami-Dade?

• You generally apply for the next tax year because you must own and occupy the home as your permanent residence on January 1 to receive that year’s exemption.

What documents does Miami-Dade usually request for a homestead application?

• Expect to provide a recorded deed, Florida driver’s license or ID with the property address, voter and vehicle registrations, and supporting items like a closing statement or utility bills.

How does the Save Our Homes cap limit Miami property tax increases?

• For homesteaded properties, assessed value increases are limited to the lesser of 3 percent or the change in CPI each year, which helps stabilize your tax bill over time.

How does portability work if I move from another Florida county to Miami?

• You can request to transfer your prior Save Our Homes assessment difference to your new homestead using the DR‑501T form, subject to state eligibility rules and deadlines.

Can I rent my Miami homestead and keep the exemption?

• The homestead must be your permanent residence; active rental use conflicts with occupancy requirements and can jeopardize the exemption.