Palm Beach Homestead Exemption Guide for Owners

Buying or selling a home in Palm Beach County and wondering how the homestead exemption can lower your tax bill? You are not alone. Between deadlines, documents, and portability, the process can feel confusing when you just want clear steps. In this guide, you will learn who qualifies, how to file by the deadline, what documents to gather, and how Save Our Homes and portability can protect your tax savings when you move. Let’s dive in.

Palm Beach homestead, in plain English

Florida’s homestead exemption reduces the taxable assessed value of your primary residence. The rules come from the Florida Constitution and Florida Statutes, and the Palm Beach County Property Appraiser administers applications and verifies eligibility. Your actual dollar savings depend on local tax rates after your assessed value is reduced.

In most cases, the exemption applies to a home you own and occupy as your permanent residence. You can claim it on only one property at a time.

Who qualifies and when

To qualify for the current tax year, you must own the property and use it as your permanent legal residence on January 1 of that year. You do not need to be a U.S. citizen. The key tests are ownership and permanent residency at the address.

Only one homestead exemption is allowed per person. If you and a spouse have different homes, special rules can apply. When in doubt, contact the Palm Beach County Property Appraiser for guidance.

Filing deadline and how to apply

The standard filing deadline is March 1 of the tax year you want the exemption. If you miss the deadline, reach out to the Palm Beach County Property Appraiser as soon as possible to ask about late‑filing options.

You can apply online or in person with the Palm Beach County Property Appraiser. Keep copies of everything you submit. If you recently closed, have your recorded deed or settlement statement handy.

Documents you will likely need

Have these items ready before you start your application:

• Proof of ownership: recorded deed or closing/settlement statement if recently purchased.
• Proof of permanent residency at the address: Florida driver’s license or ID with the Palm Beach address, Florida voter registration, Florida vehicle registration, a Declaration of Domicile, or recent utility bills.
• Identity verification: last four digits of your Social Security Number as required on the county form.
• If claiming portability: documents about your prior Florida homestead, such as the prior parcel number, a prior tax bill, or a statement from the prior county property appraiser showing your assessed value and Save Our Homes benefit.

How the exemption saves you money

The homestead exemption reduces your assessed value before millage rates are applied. Florida commonly explains the exemption in two parts:

• A base exemption amount that applies to all taxing authorities.
• An additional exemption amount that generally applies to values above a threshold and typically does not apply to school district taxes.

Because the county applies exemptions against assessed value, your exact tax savings vary by taxing authority and millage rate.

Save Our Homes cap explained

The Save Our Homes (SOH) protection limits how much a homesteaded property’s assessed value can rise each year. The annual increase is capped at the lesser of a fixed percentage commonly referenced as 3 percent or the change in the Consumer Price Index. Over time, this cap creates a gap between market value and your capped assessed value. That gap is your accumulated SOH benefit.

This is why long‑time owners often see smaller assessment increases year to year, even in rising markets.

How portability works

Portability lets you transfer some or all of your accumulated SOH benefit from a prior Florida homestead to a new Florida homestead. This can lower the assessed value on your new home and reduce your taxes.

Key points to remember:

• Portability only works between Florida homesteads. It does not apply when moving into Florida from another state.
• You claim portability when you file homestead for your new residence, using the required state or county forms.
• Bring documentation from your prior county that shows your SOH benefit and assessed values.

Simple scenarios to picture

• You are selling a home with a low capped assessed value after many years. Your buyer’s assessment will reset to market value. If you buy another Florida home, you may reduce your new assessed value by porting your SOH benefit.
• You are moving from another Florida county to Palm Beach County. When you apply for homestead here, include a portability claim and documentation from your former county.
• You are relocating from out of state. You can apply for homestead in Palm Beach County once you establish Florida residency and occupy as of January 1, but there is no portability from outside Florida.
• You buy after January 1. You will usually qualify for homestead the following tax year, filed by March 1.

Step-by-step filing timeline

Follow these steps to stay on track:

1. At closing: Save your recorded deed and settlement statement. Note your move‑in date.
2. Within 30 days of moving: Update your Florida driver’s license or ID, voter registration, and vehicle registration to your new Palm Beach address.
3. If porting SOH: Gather your prior parcel number, last tax bill, or a statement from your prior county property appraiser showing your SOH benefit.
4. By March 1: File your homestead exemption with the Palm Beach County Property Appraiser. If porting, submit the portability claim with your application.
5. After filing: Keep confirmation copies and watch for county acknowledgment. Follow up if you do not receive one.

Practical tips for buyers and sellers

• Buying after January 1 usually means your homestead starts the next tax year. Plan for this in your first‑year tax budget.
• Changing title ownership can affect eligibility. If you add or remove owners, place the home in a trust, or transfer title through an estate, review how that change may impact homestead.
• If you are divorcing, selling, or moving across the year‑end, ask the property appraiser how to handle dates and documentation.
• Active duty military and other special cases may have additional options. Ask county staff or consult a tax professional for complex situations.

Quick starter checklist

• Gather deed and closing paperwork.
• Update your Florida driver’s license or ID and voter and vehicle registrations to your new address.
• Verify you occupied the home as of January 1 for the year you want the exemption.
• File by March 1 with the Palm Beach County Property Appraiser.
• If moving within Florida, add a portability claim and include prior homestead documentation.

Your next step

If you are planning a move or want help timing your purchase to make the most of homestead and portability, reach out for local, step‑by‑step guidance. As a teacher‑hearted advisor, I will walk you through the documents, deadlines, and the best way to protect your tax savings while you buy or sell in Palm Beach County. Connect with Abbey Adair to plan your move with confidence.

FAQs

What is the Palm Beach homestead exemption?

• It is a Florida property tax benefit that reduces the taxable assessed value of your primary residence, administered locally by the Palm Beach County Property Appraiser.

Who qualifies for the homestead exemption in Palm Beach County?

• You must own the home and use it as your permanent legal residence on January 1 of the tax year, and you can claim only one homestead per person.

When is the Palm Beach homestead filing deadline?

• The standard deadline is March 1 of the tax year you want the exemption, and you should contact the property appraiser if you miss it.

How does the Save Our Homes cap work in Florida?

• It limits annual assessment increases on homesteaded property to the lesser of a commonly referenced 3 percent or the change in CPI, creating a long‑term savings gap.

Can I transfer my Save Our Homes benefit when I move within Florida?

• Yes, portability lets you transfer your accumulated SOH benefit from a prior Florida homestead to a new Florida homestead when you file.

What if I buy a Palm Beach home after January 1?

• You generally do not qualify for homestead for that tax year and should plan to file by March 1 for the following tax year.

Do I need to be a U.S. citizen to claim Florida homestead?

• No, citizenship is not required, but you must meet ownership and permanent residency tests and provide acceptable identification.

Will the homestead exemption eliminate my Palm Beach County property taxes?

• No, it reduces your taxable assessed value but does not remove all taxes, though other specialized exemptions may provide larger benefits in certain cases.