Planning a move within Fort Lauderdale and wondering if your property taxes will jump? If you currently have a Florida homestead exemption, you may be able to bring part of your tax benefit with you when you buy in Poinsettia Heights. That option is called homestead portability, and it can meaningfully reduce your new home’s assessed value. In this guide, you’ll learn what portability is, how it works, and the steps to take so you do not miss important deadlines. Let’s dive in.
What portability means in Florida
Florida’s homestead exemption reduces your taxable value when you make a property your permanent residence. Once you have that exemption, the Save Our Homes cap limits yearly increases in your assessed value, generally to 3 percent or the change in CPI, whichever is lower. Over time, the gap between your market value and assessed value grows. That gap is your Save Our Homes benefit.
Portability lets you transfer some or all of that Save Our Homes benefit to a new Florida homestead. When you buy in Poinsettia Heights, the transferred amount reduces the new home’s assessed value for property tax purposes. This does not change your tax rate. It simply lowers the number to which local millage rates are applied.
How the transfer works
The basic math
- Portability amount equals your prior homestead’s market value minus assessed value.
- That dollar amount can be applied to your new homestead’s assessed value, subject to rules and limits.
- Your actual tax savings depend on the combined millage that applies to the new property in Fort Lauderdale and Broward County.
Limits and caps
There is a statutory maximum on how much benefit you can transfer. Because caps can change, confirm the current limit with the Florida Department of Revenue or the Broward County Property Appraiser before you apply. Do not assume the maximum from past years still applies.
Timing and tax year
- Portability applies after you establish homestead on the new property.
- The reduction impacts the tax year tied to your new homestead exemption.
- There is an application deadline administered by the county. Filing windows and late rules are set locally, so verify the current dates with the Broward County Property Appraiser.
Who can use portability
If you had a Florida homestead exemption and are moving to another primary residence anywhere in Florida, you can apply to transfer your Save Our Homes benefit. Moves across counties are allowed, including into Poinsettia Heights from elsewhere in the state. You cannot hold homestead on two properties at the same time. If you qualify for other exemptions such as senior or disability, those are evaluated separately and can still apply.
Steps for moving to Poinsettia Heights
Before you list or buy
- Identify your Save Our Homes benefit amount from your most recent tax bill or by contacting your former county property appraiser.
- Ask the Broward County Property Appraiser what documentation they prefer to verify your prior homestead and benefit.
During contract and closing
- Coordinate with your title or closing agent to ensure the deed and closing package are submitted promptly to the Broward County Property Appraiser.
- If your previous homestead was in another county, gather proof such as the prior exemption letter, last tax bill, or contact information for the former county so Broward can verify your benefit.
After closing and homestead filing
- Apply for the Broward homestead exemption for your Poinsettia Heights property.
- File the portability application. Florida uses a statewide application commonly referred to as Form DR-501 for transferring the homestead assessment difference.
- File by the county’s deadline, commonly March 1 of the year after you establish the new homestead. If you miss it, ask about late filing rules and exceptions.
- Keep copies of your submission and confirmations from the property appraiser.
Real world examples
These simplified examples show how portability reduces assessed value. Actual tax bills depend on final assessments and local millage rates.
Example A - modest move up
- Previous home: market value 300,000; assessed value 225,000. Save Our Homes benefit equals 75,000.
- New Poinsettia Heights home: market value 450,000. Without portability, assessed value is about 450,000 before base exemptions. With portability, assessed value becomes about 375,000.
- Result: lower taxable value and a lower tax bill compared with no portability.
Example B - large move up
- Prior Save Our Homes benefit equals 150,000. New home market value equals 900,000.
- Portability reduces the new assessed value by 150,000, but the new assessment will still be much higher than the old home’s assessment. Portability softens the increase rather than eliminating it.
Example C - moving to a lower value home
- Prior Save Our Homes benefit equals 200,000. New home market value equals 250,000.
- Portability can substantially reduce assessed value, but it cannot create a negative assessed value. County rules and caps still apply.
Smart coordination tips
- Confirm your Save Our Homes benefit early so you can plan your budget and offer strategy.
- Share prior homestead documents with your agent and title company so verification is easy for Broward County.
- Ask the property appraiser which IDs and residency proofs they accept, such as a Florida driver’s license or voter registration.
- If you also qualify for other exemptions, discuss how those interact with portability when estimating your tax outcome.
Common pitfalls to avoid
- Assuming portability is automatic. You must apply and provide documentation.
- Missing the filing deadline. Put the county’s cutoff date on your calendar and set reminders.
- Relying on old cap amounts. Caps and procedures can change. Always confirm with the property appraiser.
- Expecting your tax bill to stay the same. Portability reduces your assessed value, not the tax rate. Millage in Fort Lauderdale and Broward County will affect the final number.
When to involve a tax professional
Consider hiring a tax professional if you have a very large Save Our Homes benefit, the new property is significantly more or less expensive than your prior home, or you are layering other exemptions. A qualified advisor can model the likely tax impact using the local millage rates and special assessments that apply to your Poinsettia Heights address.
Ready to plan your move
Portability can be a powerful tool when you are moving into Poinsettia Heights. With the right preparation, you can transfer your Save Our Homes benefit, reduce your new assessed value, and avoid missed deadlines. If you want help coordinating timelines, documents, and local contacts, request a private consultation with Vicki Annecca for concierge-level guidance.
FAQs
What is Florida homestead portability and how does it help in Poinsettia Heights?
- It allows you to transfer the Save Our Homes assessment benefit from your prior Florida homestead to your new Poinsettia Heights homestead, lowering the new assessed value and potentially reducing your tax bill.
Do I automatically get portability when I buy a new Fort Lauderdale home?
- No. You must apply with the county property appraiser and provide documentation to transfer your assessment difference.
Can I transfer my Save Our Homes benefit into Broward County from another Florida county?
- Yes. Cross-county transfers are allowed, and Broward County accepts portability from any county in Florida.
What is the deadline to apply for portability after buying in Poinsettia Heights?
- Counties enforce filing deadlines. The cutoff is commonly March 1 after you establish homestead on the new property, but you should confirm the current date with the Broward County Property Appraiser.
Does portability change my tax rate in Fort Lauderdale?
- No. Portability reduces the assessed value only. Your local millage rates from the city, county, schools, and special districts still determine the final bill.
Can I have homestead on two Florida properties at the same time?
- No. You must give up homestead on the old property when you establish homestead on the new one. The chronology matters for exemption dates.
What documents should I gather to apply for portability in Broward County?
- Typical items include proof of your prior homestead exemption, your most recent tax bill, your deed or closing statement, and proof of Florida residency such as a driver’s license or voter registration.
