Portability

The applicant must establish the Homestead Exemption on the new property within three assessment years after abandoning the Homestead Exemption on the previous property.

For example: If the previous Homestead Exemption is abandoned March 2024, the applicant must establish the new Homestead Exemption by January 1, 2027.

If the applicant is granted a Homestead Exemption, but does not apply for portability within three consecutive years, they may apply at a future date. The Save Our Homes assessment difference from the year in which the Homestead Exemption was abandoned will be applied to the assessed value of the new homesteaded property in the year that the portability is first approved. However, property taxes will not be subject to refunds for previous years.

If you had a previous Homestead Exemption with other persons, you can transfer (port) your assessment difference.

However, all recipients of the Homestead Exemption of the previous property must abandon the previous homestead before the assessment limitation can be ported and the portability is distributed according to the ownership share of the previous property.

Spouses abandoning jointly titled property may designate shares of the Homestead Assessment Difference by filing a Designation of Ownership Shares of Abandoned Homestead form (DR-501TS). To qualify to make such a designation, spouses must be married on the date the jointly owned property is abandoned.

When two people who previously owned separate homestead properties decide to move in together and establish a new homestead, the highest assessment limitation from either of the prior homesteads is eligible to transfer.