Buying or owning a home in Stuart can come with meaningful property tax savings if you use Florida’s homestead benefits correctly. The rules are straightforward once you understand the key dates, documents, and terms. In this guide, you will learn what the homestead exemption is, who qualifies, how the Save Our Homes cap works, how to port savings when you move, and how to file in Martin County. Let’s dive in.
Florida homestead, in plain English
Florida’s homestead exemption reduces the taxable assessed value of your primary residence. The most common benefit is up to a total of $50,000 in exemption value.
- The first $25,000 applies to all taxing authorities, including school taxes.
- The second $25,000 applies only to non-school taxes and only to the portion of assessed value above $50,000.
Your actual dollar savings equal the exemption amount multiplied by the local millage rate. Because millage rates vary, two owners with the same exemption can save different amounts.
Who qualifies in Stuart
To claim homestead for a tax year, you must generally own and occupy the property as your permanent residence on January 1 of that year. You also need to file your application with the county property appraiser by the deadline, which is commonly March 1.
If you purchase after January 1, you are typically not eligible for that calendar year’s exemption. You can usually apply for the next tax year once you meet the January 1 ownership and residency test. If your situation is unique, contact the Martin County Property Appraiser for guidance.
Save Our Homes cap, explained
Save Our Homes limits how much your assessed value on a Florida homestead can increase each year. The annual increase is capped at the lesser of 3 percent or the prior year’s percentage change in the Consumer Price Index.
Over time, this cap can create a gap between your market value and your assessed value. That gap is often called your Save Our Homes benefit, and it helps keep property taxes more predictable even when market prices rise.
Remember, the homestead exemption and Save Our Homes are separate. The exemption subtracts a fixed amount from assessed value. The Save Our Homes cap limits how fast assessed value can grow.
Portability when you move
Portability lets you transfer your accumulated Save Our Homes benefit from your prior Florida homestead to your new Florida homestead. When you port that benefit, it reduces the assessed value of the new home, which can lower your taxes.
There is a statewide cap on the amount you can port. This has been historically referenced as up to $500,000. You generally file for portability when you apply for homestead on the new property, or within a limited time window after you establish the new homestead.
If you are moving within Martin County or anywhere in Florida, planning portability during your move can preserve valuable savings.
How to file in Martin County
The most common timeline is simple:
- Own and occupy your home as your permanent residence on January 1 of the tax year.
- File your homestead exemption application with the Martin County Property Appraiser by March 1.
- If you have a prior Florida homestead, complete the portability request at the same time.
The Martin County Property Appraiser handles exemption applications and determines eligibility. The Martin County Tax Collector sends tax bills and collects payments. If you miss a deadline, contact the property appraiser right away to learn whether a late application or appeal may be available.
What to bring or upload
When you apply, be ready to provide documents that show you own and live in the property as your permanent residence.
- Government-issued photo ID with your Florida address
- Proof of legal ownership, such as a recorded deed or closing statement
- Proof of Florida residency, which can include a Florida driver’s license or ID, Florida vehicle registration, voter registration card, or utility bills
- Social Security number or the last four digits
- For portability, documents confirming your prior Florida homestead and the assessed values, such as a prior ad valorem tax notice or property appraiser records
County requirements and accepted documents can change. If in doubt, ask the Martin County Property Appraiser which proofs they prefer.
Simple savings examples
Here are quick, illustrative scenarios to make the numbers feel real. Your results will vary based on assessed value and local millage rates.
Homestead exemption savings: If you receive a $25,000 exemption and your combined millage rate is 20 mills (0.020), your savings are roughly $25,000 × 0.020 = $500. If the second $25,000 portion applies to non-school taxes for your home, that part would generate additional savings only on those non-school millages.
Save Our Homes in action: Suppose your assessed value last year was $300,000 and market values in your area rose by 8 percent. If CPI change is 3 percent or more, your assessed value increase is capped at 3 percent, so it would rise to about $309,000 rather than tracking the full market jump. That lower assessed value reduces your tax bill compared to an uncapped scenario.
Portability when you move: Imagine your prior Florida homestead had a market value of $600,000 and an assessed value of $400,000. Your Save Our Homes benefit was $200,000. If you buy a new Florida homestead with a market value of $700,000, you may be able to port up to that $200,000 benefit to reduce the assessed value of the new home, subject to statewide caps and county processing. You would also apply the homestead exemption once approved.
Planning tips for buyers and sellers
- Time your move around January 1. If possible, plan occupancy so you meet the January 1 test for your chosen home. Closing in late December or early January can affect your eligibility for that tax year.
- File portability at the same time. When you move between Florida homes, include your portability request with your new homestead filing so you do not risk losing your Save Our Homes benefit.
- Keep residency documents current. Update your Florida driver’s license and voter registration promptly to support your permanent residence claim.
- Consider your long-term plans. If you may convert a home to a second home or move out of state soon, think through whether and when to claim homestead. Abandoning your Florida homestead stops Save Our Homes accrual and eliminates future portability if you are not moving to another Florida homestead.
- Ask for personalized guidance. Complex situations like co-ownership, trusts, or recent out-of-state moves benefit from a quick review with the Martin County Property Appraiser or a qualified tax professional before filing.
Common pitfalls to avoid
- Missing the March 1 filing deadline
- Assuming a mid-year purchase qualifies for the current tax year
- Forgetting to file portability when you establish your new homestead
- Not updating Florida identification and voter registration to reflect your homestead address
- Confusing market value with assessed value when estimating taxes
Your next step
A clear homestead plan can save you money and reduce surprises at tax time. If you are buying or selling in Stuart, a quick strategy session can help you time closing and filings, understand portability, and coordinate with your lender and escrow. If you are preparing a home for market, programs like Compass Concierge and bridge loan solutions can also help you move on your timeline.
If you want local, concierge-level guidance from a team that understands Martin and northern Palm Beach County, connect with Stacie Ahee to Request a Concierge Consultation.
FAQs
Who qualifies for Florida homestead in Stuart?
- You must own and occupy the property as your permanent residence on January 1 of the tax year and file with the Martin County Property Appraiser by the deadline, commonly March 1.
How does the Save Our Homes cap affect taxes?
- It limits your annual assessed value increase to the lesser of 3 percent or the prior year’s CPI change, which can keep assessed value below market value over time and reduce your tax burden.
What is portability when moving within Florida?
- Portability lets you transfer your accumulated Save Our Homes benefit from a prior Florida homestead to a new Florida homestead to lower the new home’s assessed value, subject to statewide caps and filing timelines.
When and where do I file in Martin County?
- File with the Martin County Property Appraiser, typically by March 1 for that tax year; the Tax Collector handles billing and payments once assessments are set.
Does the second $25,000 exemption apply to school taxes?
- No, the additional $25,000 applies only to non-school taxes and only to assessed value above $50,000.
I bought my home after January 1. Can I claim homestead this year?
- Typically no, because you must own and occupy the property on January 1; plan to file for the next tax year unless the property appraiser confirms a rare exception.
What if I miss the March 1 filing deadline?
- Contact the Martin County Property Appraiser immediately to ask about late filing options or appeals, since policies vary and additional steps may be required.
Do I need to be a Florida resident to qualify?
- Yes, the property must be your permanent residence as of January 1, and you should be ready to show Florida residency through acceptable identification and records.
How can I estimate my tax savings from homestead?
- Multiply the applicable exemption amount by your local millage rate; for example, a $25,000 exemption at 20 mills (0.020) produces about $500 in savings, with additional non-school savings possible from the second $25,000 portion.