Buying or moving within Oviedo and trying to make sense of Florida homestead, Save Our Homes, and portability? You are not alone. These rules can lower your property tax bill, but the timelines and forms matter. In this guide, you will learn exactly how to claim homestead in Seminole County, how the Save Our Homes cap works, and what to do to transfer your tax savings when you move. Let’s dive in.
Homestead in Oviedo: what it is
Florida’s homestead exemption reduces property taxes on your primary residence. To qualify, you must own and occupy the property as your permanent residence by January 1 of the tax year, and you must file an application by the usual March 1 deadline. Only one Florida property per owner can receive homestead at a time.
The exemption is administered locally by the property appraiser’s office. In Seminole County, you apply with the Seminole County Property Appraiser. Always confirm specific dates, forms, and procedures with the county each year, since forms and local practices can change.
Who qualifies by January 1
To be eligible in a given tax year, you must:
- Hold legal title and use the property as your permanent residence as of January 1.
- Be a natural person as the owner. Some trusts qualify, but entities like corporations typically do not.
- Claim homestead on only one Florida property. If you own more than one home, choose the primary residence.
If your situation involves a trust, co-ownership, or a recent change in marital status, the property appraiser may request additional documentation. When in doubt, ask the county to review your setup.
What to bring when you file
Gather these documents before you apply. Bring originals or certified copies when possible, and check county instructions for any updates.
- Proof of ownership: recorded deed or Closing Disclosure
- Photo ID and Social Security numbers for all applicants
- Proof of Florida residency with your property address, such as:
- Florida driver license or state ID
- Voter registration
- Vehicle registration
- Recent utility bill in your name at the property address
- If applicable: marriage certificate, divorce decree, trust documents, guardianship paperwork
- If requesting portability: prior year tax bill or notice showing homestead on your previous Florida property, and the prior parcel ID
How to apply in Seminole County
- File with the Seminole County Property Appraiser by the county’s filing deadline, commonly March 1, for the current tax year. You can confirm procedures and available online filing options on the Seminole County Property Appraiser website. Visit the Seminole County Property Appraiser to verify current instructions.
- If you purchase and occupy the home after March 1, you are typically filing for the next tax year. Set a reminder now so you do not miss the window.
- If you plan to transfer a prior Save Our Homes benefit, you will request portability during the homestead application process. See the portability section below for details.
Save Our Homes: how the cap works
Save Our Homes, often called SOH, limits how much your homestead property’s assessed value can increase each year. Your assessed value can go up by no more than the lesser of 3 percent or the change in the Consumer Price Index for that year. Many people summarize this as “3 percent or CPI, whichever is less.”
This cap does not stop the market value from moving up or down with the market. Instead, it limits the assessed value used to calculate your taxes for your homestead property.
Simple example of SOH in action
Imagine your home’s market value is $300,000 and last year’s assessed value was $250,000. Your SOH benefit is the difference, or $50,000. In the following year, the assessed value can increase by no more than 3 percent or CPI, whichever is lower. If the cap is 3 percent, the assessed value ceiling would be $257,500. If market value drops below that, the assessed value will not exceed market value.
Why SOH matters to you
Save Our Homes helps long-term homeowners by buffering sharp jumps in assessed value as the market moves. Over time, many owners build a meaningful gap between market value and assessed value. That gap creates your SOH benefit, which you may be able to transfer to a new Florida homestead through portability.
Portability: moving your SOH benefit
Portability lets you transfer some or all of your accumulated Save Our Homes benefit from your previous Florida homestead to a new Florida homestead. This can lower the assessed value of your new home and may reduce your property taxes. Portability applies statewide, so you can move within Seminole County or anywhere else in Florida.
Your transferable amount is the difference between the previous home’s market value and its assessed value. The transfer cannot reduce the new home’s taxable assessed value below zero. A statutory limit applies to the amount you can transfer, so confirm the current cap with the county or the state.
Upsizing vs. downsizing examples
Upsizing example:
- Old home market value: $200,000; assessed value: $140,000. SOH benefit: $60,000.
- New home market value: $400,000. If the full $60,000 is eligible, the new assessed base could be about $340,000, subject to the statutory cap and other limits.
Downsizing example:
- Old SOH benefit: $150,000; new home market value: $120,000.
- The transferred amount cannot create a negative assessed value. Portability will be applied up to the new market value, and any unused amount is not carried forward beyond what the law allows.
These are simplified illustrations. Your actual calculation depends on values as determined by the property appraiser and current statutes.
How to request portability
- Indicate on your new homestead application that you want to transfer your prior SOH benefit. You will provide documentation that shows you had homestead on your previous Florida property, including the prior parcel information.
- Counties use Florida Department of Revenue forms to process homestead and portability. You can review statewide guidance and forms on the Florida Department of Revenue’s property tax site. Many applications use DR-501 for homestead and a related portability request form, which your county provides or links to.
- The new county will determine the eligible portability amount and adjust your assessed value accordingly for the tax roll.
Timelines and closing tips for Seminole County
Timing affects when your exemption and portability start. Keep these points in mind as you plan your move.
If you own and occupy by January 1
- File by March 1 to receive the exemption for that tax year. If you miss the deadline, contact the property appraiser right away to ask about late filing options or whether you must file for the next year.
- Bring your recorded deed or Closing Disclosure, photo ID, Social Security number, and Florida residency documents. If your driver license still shows your old address, bring voter or vehicle registration or a utility bill to back up your residency.
If you close after March 1
- You are typically applying for the next tax year. Mark your calendar to file by March 1 of the following year.
- If you are requesting portability, you will transfer your SOH benefit when you file for homestead on the new home. Keep your prior tax bill and parcel ID handy.
If you are selling and buying within Florida
- Ask the Seminole County Property Appraiser for an estimate of your accumulated SOH benefit before closing. Your next county will use this number to calculate the portability transfer.
- Provide accurate closing dates to your buyer and closing agent, especially if the buyer plans to claim homestead in the current tax year.
Buyer and seller checklists
Buyer’s homestead filing checklist
- Recorded deed or Closing Disclosure
- Florida driver license or state ID, plus voter or vehicle registration if needed
- Social Security numbers for all applicants
- Utility bill as residency backup if your ID has not updated yet
- If requesting portability: prior Florida homestead tax bill and parcel ID
Seller or move-up buyer checklist
- Request your SOH benefit estimate from the property appraiser before listing or closing
- Keep copies of your most recent tax bill showing homestead
- Share your prior parcel ID and homestead proof with your new county when you apply there
- Coordinate timelines with your closing agent to avoid missing the March 1 deadline
Common edge cases to flag early
- Title in a trust: Many revocable grantor trusts qualify if titled correctly. Bring trust documents so the county can verify eligibility.
- Co-ownership: Homestead is for owners who occupy the property as their permanent home. Documentation may be needed to show who qualifies.
- Renting your home: Short-term or seasonal rentals can affect eligibility. If you rent the property instead of using it as your permanent residence, you may lose the exemption.
- Additional exemptions: Seniors, disabled veterans, and survivors may have extra exemptions that interact with homestead and SOH. Ask the property appraiser about what may apply in your case.
- New to Florida: Update your Florida driver license and voter registration promptly to document domicile at your new address.
Where to verify forms and rules
Property tax rules can change, so always check with official sources before you file.
- Seminole County Property Appraiser: Confirm local filing procedures, deadlines, and online options. Start at the Seminole County Property Appraiser.
- Florida Department of Revenue: Review statewide guidance on homestead, Save Our Homes, portability, and current forms on the Florida Department of Revenue’s property tax site.
How Sherrod Luxury Homes can help
Getting the timelines, documents, and portability request right can save you real money year after year. As a local advisor based in Central Florida, we help you plan your move around the January 1 and March 1 milestones, coordinate with your closing team, and connect you with the right county offices so you file correctly the first time. Whether you are upsizing in Oviedo, relocating across Seminole County, or moving from another Florida county, you can make smarter decisions with a clear plan.
If you are thinking about buying or selling in Oviedo, reach out for personalized guidance and a clear next step. Schedule your free home valuation and consultation with Unknown Company today.
FAQs
What is the homestead filing deadline in Seminole County?
- The usual deadline is March 1 for the current tax year. Confirm the exact date and filing options with the Seminole County Property Appraiser.
Can I claim Florida homestead on more than one property?
- No. You can claim homestead on only one Florida property that is your permanent residence at a time.
How does Save Our Homes affect my taxes in Oviedo?
- SOH caps the annual increase of your homestead’s assessed value at the lesser of 3 percent or the CPI change, which can reduce taxable value growth over time.
Does portability work if I move from another Florida county to Oviedo?
- Yes. Portability is statewide. You can request to transfer your eligible SOH benefit to a new homestead in Seminole County when you apply.
What happens if I miss the March 1 homestead deadline?
- Contact the property appraiser immediately. Some late filing options may exist, but you may need to file for the next tax year depending on circumstances.
What documents do I need to request portability in Oviedo?
- Provide proof of prior Florida homestead, such as your last tax bill and prior parcel ID, along with your new homestead application and standard identity and residency documents.
