Thinking about moving within Ponte Vedra Beach but worried you’ll lose your property tax savings? You are not alone. Florida’s Save Our Homes rules can feel technical when you are planning a sale and purchase. This guide explains how homestead portability works in St. Johns County so you can protect your savings and move with confidence. Let’s dive in.
Save Our Homes, in plain English
Save Our Homes limits how much your homestead’s assessed value can go up each year. The annual increase is capped at the lesser of 3% or the change in CPI, which often creates a gap between market value and assessed value over time. That gap is your Save Our Homes benefit. You can review the rule’s basics in Florida’s administrative guidance on assessed value limits and caps on increases. See the state’s rule summary.
What homestead portability means
Portability lets you transfer some or all of that Save Our Homes assessment difference to a new Florida homestead. The St. Johns County Property Appraiser explains portability and confirms the $500,000 cap, plus how to see your portability amount on your TRIM notice. Read the county’s overview.
- Portability only applies within Florida. You cannot port a benefit from another state. County guidance confirms the Florida-only rule.
- You still need to apply for a new homestead exemption. Portability transfers the assessment difference, not the exemption itself. Forms are available on the state site. Find the DR-501, DR-501T, and related forms.
How the numbers work
The $500,000 cap
You can transfer up to $500,000 of the assessment difference. If your prior benefit is larger, $500,000 is the maximum you can port. St. Johns County outlines this cap.
Upsizing formula
If your new home’s market value is equal to or higher than your prior home’s market value, you can transfer the lesser of your prior Save Our Homes difference or $500,000. Your new assessed value starts at new market value minus the transferred amount.
- Example: Prior just value $400,000; prior assessed $300,000. Save Our Homes difference $100,000. New just value $500,000. You transfer $100,000. Your new assessed value begins at $400,000. County example reference.
Downsizing formula
If your new home’s market value is lower than your prior home’s market value, the transfer is proportional:
- Port amount = (prior SOH difference ÷ prior just value) × new just value, up to $500,000.
- Example: Prior just value $400,000; assessed $300,000. Difference $100,000. New just value $250,000. Port = (100,000 ÷ 400,000) × 250,000 = $62,500. New assessed value = $250,000 − $62,500 = $187,500. County calculation approach.
Situations with no transfer
If your prior homestead’s assessed value equaled its market value in the year you abandoned it, there is no Save Our Homes difference to move. See case discussion for context.
Deadlines, forms, and St. Johns County steps
Three-year lookback window
You can transfer your benefit when you establish your new Florida homestead within three tax years after abandoning the prior homestead. Florida voters approved this extension in 2020. Learn more about the amendment.
- Quick example: If you abandoned your prior homestead at any point in 2022, you generally must qualify your new homestead by the 2025 tax year to remain within the three-year window. Always confirm your exact timing with the St. Johns County Property Appraiser at 904-827-5500.
March 1 filing deadline
To claim portability for a given tax year, file your new homestead application (Form DR-501) and attach the portability form (Form DR-501T) by March 1. If you miss the deadline, contact the county about late-filing options. Access the official forms.
Inter-county transfers
If your prior homestead was in another county, St. Johns County will request certification of your transferable amount from the prior county. Procedures and timing are set by state administrative rule. See the administrative rule details.
Checklist for Ponte Vedra Beach homeowners
- Confirm you had an active Florida homestead exemption on your prior home and note the last tax year claimed. Review local guidance.
- Gather documents: deed or proof of title, Florida driver’s license with your new address, proof of residency, Social Security numbers, prior parcel ID, and the date you abandoned or sold the prior homestead.
- If multiple owners are splitting the benefit, file Form DR-501TS to designate ownership shares, especially in divorce or separation situations. Attach it with your application. Find the designation form.
- File DR-501 and DR-501T by March 1 for the tax year you want portability applied. Use the state forms index.
- Check your TRIM notice for the portability total or call the St. Johns County Property Appraiser at 904-827-5500 to verify the amount. County page with details.
Common questions and pitfalls
- Can you keep the old house as a rental and still port? You must abandon the prior homestead before portability can be used. All prior homestead claimants must no longer claim that property as their permanent Florida residence. Rule guidance here.
- Is portability the same as the homestead exemption? No. You must apply for a new homestead exemption and separately request the transfer of the assessment difference. See the state forms.
- What if spouses change names on title? If ownership shares are changing, use DR-501TS to designate how to split the prior benefit so it follows the plan you want. Access DR-501TS.
- Are all value reductions portable? No. Only the Save Our Homes assessment limitation transfers. Other classifications or reductions are excluded and must be added back before calculating the transfer. Administrative rule reference.
When to talk to a local expert
Timing your sale, purchase, and filings correctly can preserve significant savings in Ponte Vedra Beach. If you are weighing an upsize in Marsh Landing, a move to the Beaches, or a downsize near the club, a brief planning call can help align your closing dates with the March 1 deadline and the three-year window. For tailored guidance and a seamless plan to protect your value, connect with Sharon Mills.
FAQs
What is Save Our Homes in Florida?
- It is a cap that limits annual increases in a homestead’s assessed value to the lesser of 3% or CPI, which can create a transferable assessment difference. State rule summary
How much can I transfer with portability in St. Johns County?
- Up to $500,000 of your Save Our Homes assessment difference, subject to eligibility and formulas. County overview
Does portability work if I downsize in Ponte Vedra Beach?
- Yes, but the transfer is proportional based on the ratio of your prior benefit to your prior market value. Calculation overview
What is the deadline to file DR-501T for portability?
- File DR-501 and DR-501T by March 1 of the tax year you want the transfer applied, and confirm any late-filing options with the county. Official forms
Can I port my benefit from another state to Florida?
- No. Portability only applies between Florida homesteads. County guidance
