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SAVE
OUR HOMES
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Your
understanding of Save Our Homes (SOH) will help you avoid
being surprised by higher real estate taxes.
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The
potential for substantial increase in assessed value and
property taxes is not often a topic discussed during
negotiation of the property purchase.
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The
property taxes for a new buyer are almost always more than a
former owner due to the removal of the SAVE OUR HOMES Cap.
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Save
Our Homes is a constitutional amendment passed in 1992 by the
voters of the State of
Florida
and effective
January 1, 1995
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The amendment limits the value increase for homestead
properties by no more than 3% of the assessed value (THE SAVE
OUR HOMES Cap).
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The
calculation you just viewed on the Parcel Detail Page
illustrates the benefit of the SAVE OUR HOME Cap that is
currently applied to this property.
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