"Save Our Homes" Benifit
You must own and live in a residential property that already qualifies for Florida's Homestead Exemption benefit. Approximately 50% of residential properties in Palm Beach County do not qualify for Homestead Exemption and are not entitled to the 3% assessment cap.
Portability of the "Save Our Homes" (SOH ) benefit is available for homeowners who had homestead exemptions on their old home after 2006 and who purchase a new homestead. Homeowners can transfer their SOH benefit to a new home if they had the homestead exemption on the old home in either of the previous two years.
The maximum benefit a homeowner can transfer is $500,000.
Information courtesy of Rowlett Real Estate School LLC. Captain Wayne Rowlett, Real Estate Trainer. Feel Free to visit our website at http://www.rowlettrealestateschool.com and check out our schedule of classroom and online real estate courses. Our Florida Real Estate School is fully accredited and State Approved. Rowlett Real Estate School provides live classroom real estate training in Panama City and in Destin Florida and provide affordable online real estate courses for most every state through our affiliate partners.
P.Stone,RRES
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