Florida portability transfers an eligible Save Our Homes assessment difference, not the old homestead exemption or the old tax bill. You must establish the new property's eligibility for homestead separately.

The assessment difference is the gap between the old homestead's just value and its assessed value. The Florida Department of Revenue explains that homestead exemption itself is not transferable, while some or all of the assessment difference may be portable to a new Florida homestead.

Here is a simplified example. An old home has a $400,000 just value and a $250,000 assessed value, producing a $150,000 difference. If the owner qualifies to transfer that full difference to a higher-valued new home with a $550,000 just value, the resulting assessment would be $400,000 before applicable exemptions. This is an assessment calculation, not a $150,000 tax refund or a promise that the two homes will have the same bill.

Eligibility, ownership and timing still matter. The Palm Beach County Property Appraiser's portability explanation describes a maximum transferable difference of $500,000 and the three-tax-year timing framework. Moving to a lower-valued property can produce a proportional transfer rather than the full dollar difference. Joint ownership can also affect the calculation.

Ask the new county's property appraiser about the homestead application and the separate transfer form, DR-501T. Do not measure the filing window as simply three years from the closing date or assume the transfer happens automatically.

Our property taxes guide explains the values used in these calculations. Keep the three ideas separate when studying: exemption reduces taxable value, assessment limits affect assessed value, and portability may carry an existing assessment difference to another eligible home.