Owning a home in Miami comes with one major financial advantage: the Florida Homestead Exemption. If you live in your property as your primary residence, you may qualify for up to $50,000 in property tax exemptions, plus the powerful Save Our Homes cap, which limits how much your assessed value can increase each year.
What Is the Homestead Exemption?
The Homestead Exemption reduces the taxable value of your home. In Miami‑Dade County, this can translate into significant annual savings, especially as property values rise.
How Much Can You Save?
- First $25,000 exemption: Applies to all property taxes.
- Second $25,000 exemption: Applies to non‑school taxes.
- Save Our Homes cap: Limits annual assessed value increases to 3% or the CPI, whichever is lower.
For long‑term homeowners, this cap is often worth tens of thousands over time.
Who Qualifies?
You must:
- Own the property
- Occupy it as your primary residence
- Apply by March 1st of the tax year
How to Apply
You can apply online through the Miami‑Dade Property Appraiser website. You’ll need:
- Florida driver’s license
- Vehicle registration
- Voter registration (if applicable)
- Utility bills
Portability: Take Your Savings With You
If you move within Florida, you can transfer up to $500,000 of your Save Our Homes benefit to your new property.
Why This Matters in 2026
Insurance costs and rising values make tax savings more important than ever. Homestead is one of the strongest homeowner protections in the country.
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