If I owned property with another owner and they still live in my previous home can I apply for "portability"?
The law requires the previous exemption be forfeited before you can "port" any portion of the assessment cap benefit. Meaning, the remaining owner may not receive the full benefit and must re-apply. The "port" would be a portion of the savings dependent on how many owners were on the deed.
Can I also apply for additional exemptions such as widows/widowers, disability or senior’s exemption if I use "portability"?
Yes, "portability" refers to adjusting the assessed value of the new homestead property; you may still apply for any additional exemptions that you may be eligible.
What is the maximum SOH savings benefit I can "port" to my new property?
The maximum amount you can port is $500,000.
I owned a property with my ex-spouse. I was awarded the house in the divorce. I sold it in 2007 and purchased a new home that I will homestead. My ex-spouse also purchased a new home that he will homestead. Since I was awarded the house in the divorce is my ex-spouse eligible to apply for any of the portability? And, how will the portability amount be split or divided between our new homesteads?
The new legislation requires that the portability amount be divided equally among the recipients (owners) of the homestead exemption as of January 1, 2007. All parties on the deed to the property where the portable savings resides must "abandon" the homestead prior to the "portable amount" being available to any of the parties.
I own a property that has three (3) people receiving the homestead. One owner has a 60% interest. The other two owners have a 20% interest each. If we sell and apply for portability, how will the portability amount be split or divided between our new homesteads?
The new legislation requires that the portability amount be divided equally between the new homesteads.
Can I "port" a savings from another state?
No, portability applies only if you had a State of Florida homestead exemption in 2007.
How many times in one (1) year can I use portability?
One time. Since a homestead exemption is required in order to transfer a portable benefit, you must reside in the new home on or before 1/1/2008 (or January 1 of a future year). If you sold your home in 2008 and established a new homestead on or before 1/1/2009, you could technically "port" your savings again for the 2009 homestead.
I owned a property with another person. I moved and established another homestead; however, they still live in the original property. Can I transfer or "port" my SOH benefit to my new homestead?
No, the law requires the previous exemption be "abandoned" before you can port any of the Save Our Homes benefit. Meaning, another person can’t still be receiving the old exemption.