Buying a home in Oviedo or settling into your new place? One simple step can lower your property tax bill and help you budget with confidence. Florida’s Homestead Exemption, paired with the Save Our Homes cap, is a powerful benefit if you make the property your primary residence. In this guide, you’ll learn who qualifies, when to file, how the Save Our Homes cap works, and what to know about portability in Seminole County. Let’s dive in.
Homestead exemption basics
Florida’s Homestead Exemption reduces the taxable assessed value of your primary residence. When approved, it pairs with the Save Our Homes assessment limit, which restricts how quickly your assessed value can rise each year. Together, these benefits can lower your property taxes compared to the home’s market value.
Local administration is handled by the Seminole County Property Appraiser for Oviedo addresses. You apply with that office, which sets documentation requirements and offers filing options.
Who qualifies in Oviedo
To qualify, you must both own and occupy the home as your permanent primary residence on January 1 of the tax year. If you were not the owner-occupant on January 1, you generally cannot claim the exemption for that tax year.
“Primary residence” is based on facts that show intent to make the home your permanent residence. Counties typically request a Florida driver license or ID with the property address, voter registration, and vehicle registration as proof. Always confirm the latest document list with the county before filing.
Key deadlines to know
The standard statewide deadline to apply is March 1 of the tax year you want the exemption. If you miss March 1, the exemption usually cannot be applied to that tax year. Contact the Seminole County Property Appraiser immediately to ask about any late-file or exception procedures.
After you apply, watch for your Notice of Proposed Property Taxes (TRIM notice) in the summer. Review your assessed value and exemption status and contact the Property Appraiser promptly if something looks off.
Save Our Homes cap explained
Save Our Homes (SOH) limits the annual increase in your assessed value for a homesteaded property to the lesser of 3% or the Consumer Price Index (CPI) change. In rising markets, this often means your assessed value grows more slowly than market value.
Here’s a simple example. If last year’s assessed value was $300,000 and the market value rises 10% to $330,000, your assessed value might increase by only up to 3% to $309,000 under SOH. The gap between market and assessed values becomes your SOH benefit and can help keep taxes in check over time.
Portability when you move
Portability allows you to transfer some or all of your accrued SOH benefit from one Florida homestead to a new Florida homestead. This can significantly reduce the assessed value on your next home.
You apply for portability with the Property Appraiser when you establish your new homestead. The safest move is to apply when you file for homestead or by the March 1 deadline for that tax year. Timing and paperwork are handled locally, so follow Seminole County’s published instructions.
How to file in Seminole County
Use this quick checklist to prepare and apply:
- Confirm your timing. You must own and occupy the home as your primary residence on January 1 to get the exemption for that year.
- Gather proof of ownership. A recorded deed is commonly requested. A closing or settlement statement may also help.
- Gather proof of residency. Counties typically accept a Florida driver license or ID with the property address, voter registration, vehicle registration, or a Declaration of Domicile.
- Have owner identification ready. Many counties request Social Security numbers for verification.
- File your application by March 1. Seminole County generally offers online, in-person, and mail-in options. Check the county site for current details.
- If moving from another Florida homestead, apply for portability when you file your new homestead application.
After you file: what to expect
- Watch for your TRIM notice in the summer. Review the assessed value and exemption status shown.
- If something looks incorrect, contact the Seminole County Property Appraiser promptly to ask about next steps and timelines.
- Explore whether you qualify for additional exemptions, which require separate forms.
If you miss March 1
Don’t wait. Contact the Seminole County Property Appraiser right away. Some counties have limited late-file or correction processes, but they are time-sensitive and not guaranteed.
Other exemptions to explore
Beyond the basic homestead exemption, Florida offers other property tax exemptions that may apply, each with its own rules and forms. Common examples include senior exemptions, disability exemptions, disabled veteran exemptions, and widow or widower exemptions. Check Seminole County’s requirements to see what applies to you.
Quick tips for Oviedo buyers
- Buying mid-year. If you purchase after January 1 and move in, you typically must wait until the next tax year to claim homestead.
- Planning your move. If possible, closing and occupying by January 1 is the simplest way to secure homestead for that year.
- Coming from another Florida home. Gather your prior homestead’s assessed and market value details so you can apply for portability on your new home.
Ready to plan your move?
Securing your homestead exemption and understanding Save Our Homes can make a real difference in your monthly budget. If you’re buying or selling in Oviedo or anywhere in Seminole County, we can help you plan the timing, track key dates, and coordinate a smooth transition. Reach out to Richard Sherrod to discuss your goals and schedule your free home valuation & consultation.
FAQs
What is Florida’s Homestead Exemption for Oviedo homeowners?
- It reduces the taxable assessed value of your primary residence and pairs with Save Our Homes to limit yearly assessed value increases.
Who qualifies for homestead in Seminole County?
- You must own and occupy the home as your permanent primary residence on January 1 of the tax year and file an application with the county by March 1.
What is the Save Our Homes cap?
- For homesteaded properties, assessed value increases are limited to the lesser of 3% or the Consumer Price Index change each year.
How does portability work if I move within Florida?
- You can generally transfer your accrued Save Our Homes benefit to a new Florida homestead by applying with the Property Appraiser, typically when you file your new homestead.
What documents do I need to file in Seminole County?
- Expect to provide a recorded deed, Florida ID with the property address, voter or vehicle registration, and identification details for owners; confirm the current list with the county.
What if I closed on my Oviedo home after January 1?
- You usually cannot claim homestead for that tax year and would apply for the following year, meeting the January 1 occupancy requirement and the March 1 filing deadline.
Does the homestead exemption offer creditor protection?
- Florida’s constitutional homestead protection provides certain protections with exceptions, such as mortgages and tax liens; consult an attorney for legal advice on your situation.
