Florida Homestead Exemption: Palm Beach Gardens Guide

Buying or owning a home in Palm Beach Gardens comes with a powerful tax benefit you do not want to miss. If this is your primary residence, Florida’s homestead exemption can lower your taxable value and stabilize future assessments, which can add up to real savings. You may also be able to limit annual increases through Save Our Homes and even transfer that benefit when you move. This guide explains how these programs work, who qualifies, how to apply in Palm Beach County, and what to expect if you buy or sell in the area. Let’s dive in.

What the homestead exemption does

Florida’s homestead exemption reduces the taxable assessed value of your primary residence and offers constitutional protections against certain creditor actions. For many owners, it leads to meaningful savings on county and municipal property taxes each year. The exemption sits on top of your home’s assessed value and interacts with local millage rates to determine your tax bill in Palm Beach Gardens.

You also have two related tools to know: the Save Our Homes assessment cap and portability. Save Our Homes limits how fast your assessed value can rise. Portability lets you transfer some or all of that saved benefit to your next Florida homestead if you move.

Who qualifies in Palm Beach Gardens

To get the homestead exemption for a given tax year, you must own the property and make it your permanent, primary residence as of January 1 of that year. You can claim only one homestead exemption per person or household at a time. The typical filing deadline is March 1 for that tax year.

Eligibility is based on residency and ownership, not on how long you have lived in Florida. If you moved into your Palm Beach Gardens home and were living there on January 1, you can usually apply for that year’s exemption. If you closed or moved in after January 1, you would generally apply for the following tax year.

How to apply in Palm Beach County

The Palm Beach County Property Appraiser is your point of contact. You can usually file online, by mail, or in person using county and state forms.

Follow these steps:

1. Verify that you owned and occupied the home as your permanent residence on January 1.
2. Complete the county’s homestead exemption application.
3. Submit supporting documents and identification.
4. Watch for approval or a request for more information from the Property Appraiser.

Apply by March 1 for the current tax year. If you miss the deadline, the county may have limited late-filing options. Check with the Palm Beach County Property Appraiser for current rules.

What to bring: documents checklist

• Proof of ownership such as a recorded deed or closing statement.
• Florida driver’s license or Florida ID card showing the property address.
• Voter registration with your Palm Beach Gardens address, if applicable.
• Vehicle registration or recent utility bills tied to the address.
• Social Security Number for identification.
• Any special exemption documents, such as disability letters or veteran records, if you qualify for additional benefits.

Save Our Homes cap, explained

Save Our Homes (SOH) is a constitutional rule that limits how much the assessed value of a homesteaded property can increase each year. The increase is capped at the lesser of 3 percent or the change in the Consumer Price Index for that year. This helps long-term owners avoid large spikes when market values rise quickly.

Here is a simple example. Suppose your initial assessed value is $600,000. Next year, the market value jumps to $700,000. Without SOH, your assessed value could rise near that market figure. With SOH, the increase is limited to the lesser of 3 percent or CPI, so your assessed value might be about $618,000. Your SOH benefit is the difference between just value and assessed value, which in this example is $700,000 minus $618,000, or $82,000. You pay ad valorem taxes on the lower assessed value.

SOH only applies while the property is your homestead. If you sell or move out, the cap stops going forward and the next owner’s assessed value can reset closer to current market. SOH also does not affect non-ad valorem assessments and does not eliminate taxes; it reduces the taxable assessed value used for ad valorem taxes.

Portability when you move

Portability lets you transfer some or all of your accrued SOH benefit from one Florida homestead to another. The transfer reduces the new home’s assessed value, subject to statutory limits and proper filing.

How it works in practice:

• Determine your SOH differential: just value minus assessed value on your prior homestead.
• When you buy your next Florida primary residence, apply for homestead on the new property and file the portability application at the same time.
• The Property Appraiser uses the approved differential to reduce your new assessed value, up to the statutory maximum. You must still apply for the homestead exemption separately.

There is a maximum amount you can transfer, and rules can change. Confirm the current cap and timelines with the Palm Beach County Property Appraiser or the Florida Department of Revenue before you file.

Simple portability example

• Just value of your new Palm Beach Gardens home: $500,000.
• Approved SOH benefit from your prior Florida homestead: $100,000.
• Potential new assessed value for ad valorem taxes: $500,000 minus $100,000 equals $400,000, before applying your homestead exemption. This is a simplified illustration. The county will calculate final figures under state law.

Timelines and planning tips

• Pre-closing: Plan to establish Florida residency if this will be your homestead. Update your Florida ID and voter registration after closing.
• January 1 test: You must own and occupy as your primary residence on January 1 to qualify for that year’s exemption.
• By March 1: File your homestead application with Palm Beach County for that tax year.
• Moving within Florida: File your homestead application and your portability application together for your new home.
• Keep records: Save deeds, closing statements, homestead approval letters, and occupancy documentation to support portability.

How school taxes are affected

Florida’s homestead exemption has two parts. The first portion, up to $25,000 of value, applies to all taxing authorities, including school districts. The second portion, which adds up to another $25,000 within a set value range, generally applies only to non-school taxes. Your actual bill will depend on local millage rates and assessed values for the year.

Other exemptions to ask about

You may qualify for additional exemptions, such as senior, disability, widow or widower, or veteran-related exemptions. Each has its own eligibility rules and documents. The Palm Beach County Property Appraiser can provide the latest requirements and forms.

Local scenarios to keep in mind

• Closed after January 1: If you did not own and occupy the home on January 1, you typically apply by the next March 1 for the following tax year’s exemption. Ask the Property Appraiser about any limited late-filing options.
• Selling a homesteaded property: The SOH cap benefit stays with the property while it is homesteaded. It does not move to the buyer unless you are porting your own benefit to a new Florida homestead.
• Relocating to Palm Beach Gardens from another county: Apply for homestead in Palm Beach County and include your portability application. Provide details of your prior Florida homestead so the county can verify your SOH differential.

Planning a move, purchase, or sale in Palm Beach Gardens and want to map out your tax timeline? Reach out for local guidance tailored to your situation. Connect with Matt & Kate Shaw to get started.

FAQs

How does the Florida homestead exemption work in Palm Beach Gardens?

• It reduces the taxable assessed value of your primary residence and, when combined with local millage rates, can lower your county and municipal property taxes.

What documents do I need to file with Palm Beach County?

• Common items include proof of ownership, Florida ID with your homestead address, voter registration if available, vehicle registration or utility bills, your Social Security Number, and any paperwork for special exemptions.

What is the Save Our Homes cap and how is it calculated?

• For homesteaded properties, the annual increase in assessed value is limited to the lesser of 3 percent or the change in CPI, which helps prevent sharp jumps in taxable value.

How does portability help when I move to a new Florida home?

• You can apply to transfer your accrued Save Our Homes benefit from your prior Florida homestead to your new one, lowering the new home’s assessed value within statutory limits.

If I buy after January 1, when can I claim the exemption?

• You generally apply by March 1 for the following tax year, since you must own and occupy the home as your primary residence on January 1 to qualify for that year.

Does the homestead exemption reduce school taxes in Palm Beach County?

• The first $25,000 of the homestead exemption typically applies to school taxes, while the second $25,000 usually applies only to non-school taxes within a defined assessed value range.