Save Our Homes cap

Save Our Homes is a Florida constitutional provision that caps the annual increase in the assessed value of a homesteaded property, regardless of how fast its market value climbs. Over years, this can open a wide gap between a home's market value and its capped assessed value.

That gap is why a long-time owner's tax bill can be far below what a new buyer will pay: when the home sells, the assessment generally resets toward market value and the accumulated cap benefit is lost.

The specific cap percentage and mechanics are set in the state constitution and statutes; the county Property Appraiser applies them to a given parcel and is the source for the current figures.