Guide · Updated:
Property tax and homestead
If your Miami home is your permanent residence on January 1, you can apply by March 1 for the homestead exemption, which lowers the assessed value and caps its rise at 3% a year or inflation.
Sources: Florida Statutes, s. 196.031 · Florida Statutes, s. 196.011 · Florida Statutes, s. 193.155 · checked Sep 30, 2026
Ask for a shortlist and documentsYour message includes this guide topic.What is the homestead exemption?
A reduction in assessed value for someone who, on January 1, owns and lives in the property as a permanent residence.
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Section 196.031 gives a person who on January 1 holds title to Florida real property and in good faith makes it their permanent residence, or that of their dependants, a tax exemption of up to $25,000 of assessed value. The same section adds up to $25,000 more on assessed value above $50,000, which does not apply to school taxes and is adjusted yearly for inflation. A home you rent out or use a few weeks a year does not qualify.
Source: Florida Statutes, s. 196.031 · checked Sep 30, 2026
When do I apply?
By March 1 of the year you want it to apply, with the county property appraiser.
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Section 196.011 says anyone entitled to an exemption must file with the county property appraiser on or before March 1 each year. In Miami-Dade that is the Property Appraiser's office. If you buy in October and move in before January 1, you apply by the following March 1. Miss the deadline and you pay the full year without the exemption.
Source: Florida Statutes, s. 196.011 · checked Sep 30, 2026
How much can the tax rise each year?
With homestead, assessed value rises at most 3% or inflation, whichever is lower. Without it, up to 10%.
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Section 193.155 caps the annual rise in assessed value of a homestead at the lower of 3% or the change in the consumer price index. For other residential property, section 193.1555 sets the cap at 10%. On a sale the assessed value resets to market value for the new owner, so the seller's tax bill is no guide to yours. Ask Carolina for an estimate based on market value.
Sources: Florida Statutes, s. 193.155 · Florida Statutes, s. 193.1555 · checked Sep 30, 2026
This summarises what the law says and what the cited sources publish; it is not legal or tax advice. Before you decide, confirm it with a Florida-licensed attorney or CPA.
Written by Carolina Suárez Rivas, Florida-licensed real estate agent (SL3336060).