SAVE OUR HOMES
The Florida Constitution limits annual increases in the assessed value of property with Homestead Exemption to three percent or the change in the Consumer Price Index, whichever is lower. The property will benefit from the limitations of the Save Our Homes Cap in the second year of the new owner's Homestead Exemption.
For example, if a property owner applies for and receives Homestead Exemption for 2024, the Assessed Value will be capped in 2025. If a property has been sold, caps and exemptions are removed at the end of the calendar year. A change in property ownership will effectively "reset" the Capped Value to full market value. It is important to know that property taxes will increase the next year as the assessed value must be adjusted to equal the current market value.
Save Our Homes Cap History
| Year | CPI Change | SOH Cap |
| 2024 | 3.4% | 3.0% |
| 2023 | 6.5% | 3.0% |
| 2022 | 7.0% | 3.0% |
| 2021 | 1.4% | 1.4% |
| 2020 | 2.3% | 2.3% |
| 2019 | 1.9% | 1.9% |
| 2018 | 2.1% | 2.1% |
| 2017 | 2.1% | 2.1% |
| 2016 | 0.7% | 0.7% |
| 2015 | 0.8% | 0.8% |
| 2014 | 1.5% | 1.5% |
| 2013 | 1.7% | 1.7% |
| 2012 | 3.0% | 3.0% |
| 2011 | 1.5% | 1.5% |
| 2010 | 2.7% | 2.7% |
| 2009 | 0.1% | 0.1% |
| 2008 | 4.1% | 3.0% |
| 2007 | 2.5% | 2.5% |
| 2006 | 3.4% | 3.0% |
| 2005 | 3.3% | 3.0% |
| 2004 | 1.9% | 1.9% |
| 2003 | 2.4% | 2.4% |
| 2002 | 1.6% | 1.6% |
| 2001 | 3.4% | 3.0% |
| 2000 | 2.7% | 2.7% |
| 1999 | 1.6% | 1.6% |
| 1998 | 1.7% | 1.7% |
| 1997 | 3.3% | 3.0% |
| 1996 | 2.5% | 2.5% |
| 1995 | 2.7% | 2.7% |