How Does the Miami-Dade Homestead Exemption Work?

Florida's homestead exemption reduces the taxable value of your primary residence by up to $50,000, and it also caps annual increases in your assessed value under the Save Our Homes provision, which can result in significant long-term property tax savings.

What the Exemption Actually Reduces

The standard homestead exemption removes up to $50,000 from your home's assessed value for tax purposes — the first $25,000 applies to all property taxes, and an additional $25,000 (on value between $50,000 and $75,000) applies to non-school taxes only.

The Save Our Homes Cap

Beyond the exemption itself, Florida's Save Our Homes provision limits how much your home's assessed value can increase each year to 3% or the change in the Consumer Price Index, whichever is lower — even if your home's market value rises faster than that. Over time, this can create a meaningful gap between market value and assessed value.

Who Qualifies

To qualify, the property must be your permanent, primary residence in Florida as of January 1 of the tax year, and you must file an application with the Miami-Dade County Property Appraiser's office.

How to Apply

New homeowners typically apply online, by mail, or in person through the Miami-Dade Property Appraiser, generally between January 1 and March 1 of the year following purchase, providing proof of residency such as a Florida driver's license and voter registration.

Portability

If you're moving from one Florida homestead to another, "portability" lets you transfer some or all of your accumulated Save Our Homes savings to your new home, which can significantly reduce the tax hit of moving up or downsizing within the state.

Why This Matters When Buying

Because assessed value resets closer to market value when a home changes ownership, a home's current property tax bill (as a homesteaded seller) is often lower than what a new, non-homesteaded buyer should expect to pay — always calculate your own likely tax bill rather than assuming the seller's bill will carry over.

FAQ

Q: How much can I save with the Florida homestead exemption?
A: Savings vary by home value and local millage rates, but the exemption itself removes up to $50,000 of assessed value, with the Save Our Homes cap providing additional long-term savings the longer you stay.

Q: When is the deadline to file for homestead exemption in Miami-Dade?
A: The general filing deadline is March 1 of the year following your purchase, though it's best to confirm current deadlines directly with the Miami-Dade County Property Appraiser.