Buying in Palm Beach County and wondering how to reduce your property taxes from day one? Between West Palm Beach, Boca Raton, and Delray Beach, carrying costs can add up fast, especially in your first year. The Florida homestead exemption is one of the best tools to lower your taxable value, stabilize future increases, and protect your budget over time. In this guide, you’ll learn what the exemption does, who qualifies, when and how to file in Palm Beach County, and how portability can follow you to your next home. Let’s dive in.
What the homestead exemption does
Florida’s homestead exemption reduces the taxable assessed value of your primary residence, which lowers your annual property tax bill. Most homeowners receive up to $50,000 in exemption in two parts:
- The first $25,000 applies to all property taxes, including school district taxes.
- The second $25,000 applies to the assessed value above $50,000 and does not apply to school district taxes.
Once the exemption is in place, the Save Our Homes cap limits how much the assessed value can rise each year. The cap is the lesser of 3 percent or the change in the Consumer Price Index for that year. That limit helps prevent sharp tax increases when market values climb.
Who qualifies in Palm Beach County
To qualify, you must meet Florida’s statewide rules that Palm Beach County follows:
- You own the property as of January 1 of the tax year.
- The property is your permanent residence as of January 1.
- You are a Florida resident and a natural person. Only one homestead is allowed per person.
If you buy and move in by January 1, you can apply for homestead for that same tax year. If you close after January 1, you will generally be eligible for the following tax year.
When to file and key dates
Eligibility is tied to the January 1 status each year, and the application deadline is March 1 of the tax year.
- If you owned and occupied by January 1, file by March 1 for that year’s exemption.
- If you closed after January 1, file by March 1 of the next year.
- If you miss March 1, contact the Palm Beach County Property Appraiser right away. Limited late filing options may exist, but do not assume automatic retroactive approval.
Portability claims typically follow the same March 1 deadline. If you plan to transfer a Save Our Homes benefit from a prior Florida homestead, start early so you have time to gather documentation.
How to apply in Palm Beach County
Palm Beach County’s Property Appraiser’s Office handles homestead applications and determines eligibility. The Tax Collector sends and collects the tax bills. You can usually apply online or submit your application in person or by mail.
Prepare these items before you apply:
- Proof of ownership, such as a recorded deed or closing statement.
- Florida driver’s license or Florida ID card with your homestead address.
- Vehicle registration showing your Florida address, if applicable.
- Social Security numbers for each owner applying.
- Additional documents if you plan to claim special exemptions like senior, veteran, or disability benefits.
Documentation requirements can change, and Palm Beach County may require your ID to show the homestead address. It is best to confirm the current list with the Property Appraiser before you submit.
Portability: moving your Save Our Homes benefit
If you are moving within Florida and had a prior homestead, portability can lower the assessed value on your new Palm Beach County home. Portability transfers some or all of your Save Our Homes assessment differential from your old homestead to your new one, subject to a statutory maximum.
What to know:
- You must file a portability claim along with your homestead application.
- The deadline is generally March 1 of the tax year you want it to apply.
- You will need records from your previous county showing the prior market and assessed values, and proof that the previous property had homestead.
Portability can be a powerful tool if you are moving to a higher priced home in West Palm Beach, Boca Raton, or Delray Beach. It can significantly reduce your new home’s taxable assessed value and ongoing taxes.
How much can you save
Your tax bill is based on the taxable value after exemptions and the total millage rate for the taxing authorities in your area.
- Taxable value = Assessed value minus exemptions.
- Annual tax = (Taxable value × total millage) ÷ 1,000.
Illustrative example only:
- Market or assessed value: $400,000
- Homestead exemption: $50,000
- Taxable value: $350,000
- If combined millage is 20 mills, estimated tax = $350,000 × 0.020 = $7,000
- Without homestead, estimated tax = $400,000 × 0.020 = $8,000
- Estimated annual savings = $1,000
Actual savings vary by property, exemptions, and local millage. Because the second $25,000 of homestead does not reduce school district taxes, your savings may be less than a straight $50,000 reduction across all millage. Check your property’s assessed value and the current millage rates when estimating.
Save Our Homes over time
The Save Our Homes cap protects you in future years by limiting increases in assessed value to the lesser of 3 percent or the change in CPI. Over time, long-term homestead owners often pay taxes on an assessed value far below market value. If you later move, portability lets you carry some of that benefit to your next Florida home, subject to state limits.
If you are new to Florida or buying a home that did not have homestead protection, your assessed value may track market value more closely until your homestead is approved and the cap starts applying.
Common scenarios to watch
- Closed in February or later: You will not qualify for that year. Apply by March 1 for the next tax year.
- Keeping a residence in another state: Florida requires that your homestead is your permanent residence. Be prepared to document Florida residency if asked.
- Title held in a trust or entity: Only natural persons can claim homestead. Certain trust arrangements may qualify, but entity ownership like an LLC generally does not. Confirm with the Property Appraiser and your legal advisor.
- Divorce or ownership change after January 1: Changes typically affect the following tax year. Notify the Property Appraiser of ownership changes.
Special exemptions to explore
Beyond basic homestead, you may qualify for additional benefits:
- Senior exemptions: Some local programs benefit owners age 65 and over who meet income limits.
- Veterans and surviving spouses: Added exemptions or full relief may apply for certain service-connected disabilities.
- Disability exemptions: Additional exemptions may apply with qualifying documentation.
Each program has its own rules and documentation requirements. Review the Palm Beach County forms and the Florida Department of Revenue guidance before you apply.
Palm Beach buyer checklist
Use this quick plan if you are buying in West Palm Beach, Boca Raton, Delray Beach, or elsewhere in Palm Beach County.
Before closing:
- If you already have a Florida homestead, collect proof of your prior homestead and the assessed and market values for portability.
At and after closing:
- Confirm your deed records correctly in your name.
- Update or obtain your Florida driver’s license or ID with your new address right away.
- Register vehicles in Florida if applicable.
- Gather your recorded deed, settlement statement, and IDs.
Apply by the deadline:
- File your homestead application with the Palm Beach County Property Appraiser by March 1 if you owned and occupied by January 1.
- If eligible, submit your portability claim and supporting documents by the same deadline.
Verify and follow up:
- Check your Property Appraiser account for approval and your taxable value.
- Review your Tax Collector bill when it arrives and ask about any discrepancies.
First-year expectations and budgeting
Your first tax bill after buying may not reflect homestead if you closed after January 1. That means your initial carrying costs can be higher until the exemption and Save Our Homes cap take effect in the next tax year. Build that into your budget so there are no surprises.
Once your homestead is in place, your ongoing taxes should be lower than they would be without the exemption. Over time, the Save Our Homes cap can make a meaningful difference as values rise across Palm Beach County.
Next steps
- Mark your calendar with the January 1 status requirement and the March 1 filing deadline.
- Gather your documents now so you can file promptly.
- If you sold a Florida homestead, start your portability claim early to avoid delays.
Have questions about how the homestead exemption could affect a specific home in West Palm Beach, Boca Raton, or Delray Beach? Connect with the local team that closes transactions across Palm Beach County. Reach out to Premiere Realty, LLC for guidance tailored to your purchase and neighborhood.
FAQs
What is the Palm Beach County homestead exemption for homeowners?
- It is a Florida property tax benefit that reduces the taxable value of your primary residence by up to $50,000 and limits future assessed value increases through Save Our Homes.
What is the deadline if I closed after January 1 in Palm Beach County?
- You will generally not qualify for that year and should apply by March 1 of the following year when you meet the January 1 ownership and occupancy requirement.
What documents do I need to apply for homestead in Palm Beach County?
- Expect to provide proof of ownership, a Florida driver’s license or ID with the property address, vehicle registration if applicable, and Social Security numbers for owners claiming the exemption.
How does portability work for a move within Florida?
- You can transfer some or all of your Save Our Homes benefit from a previous Florida homestead to your new homestead in Palm Beach County by filing a portability claim by March 1, subject to state limits.
How much does the homestead exemption save in West Palm Beach, Boca Raton, or Delray Beach?
- Savings depend on your assessed value, exemptions, and local millage; use the formula taxable value times millage divided by 1,000 to estimate and remember the second $25,000 does not reduce school district taxes.
Who should I contact about my application or tax bill in Palm Beach County?
- Contact the Palm Beach County Property Appraiser for applications and eligibility and the Palm Beach County Tax Collector for billing and payment questions.
